Gold price all times high GBP and climbing

chucknorris

Peter_Williams wrote: »

If you're confident that your income is secure and that you will always be able to access your cash (assuming you are paid by bank transfer, not cash in hand?). Plus if you're happy for the govt to know about all your assets / savings, then I agree, don't bother to hold physical gold.
Physical gold is really about privacy and security and you pay a price for that.

I have nothing to hide, I pay all my taxes, there is no reason for me to hide my assets from the government.

Peter_Williams

chucknorris wrote: »

I have nothing to hide, I pay all my taxes, there is no reason for me to hide my assets from the government.

Then probably physical gold is not for you.
If you wanted exposure to the price you'd be better off with an ETF / mining stocks.
That way you avoid the risks of theft / counterfeit bullion too.

Horses for courses etc.

Dippypud

AG47 wrote: »

Property has huge downside risk and not much upside potential at these all time highs.

Silver is about a quarter of the all time high from back in the 1970s

Silver has huge upside potential and almost zero downside risk.

It’s also private and portable unlike property which likes to be taxed heavily by cash strapped governments

Silver is not as desirable as it used to be ...

It was used in traditional film, silver nitrate, this is where there is no longer such a strong market... remember a thing is only worth what someone will pay for it and silver has had it's day ...

Unless you can foresee a market for it ...

Peter_Williams

Dippypud wrote: »

Silver is not as desirable as it used to be ...

It was used in traditional film, silver nitrate, this is where there is no longer such a strong market... remember a thing is only worth what someone will pay for it and silver has had it's day ...

Unless you can foresee a market for it ...

Solar panels.

triathlon

Peter_Williams wrote: »

Then probably physical gold is not for you.
If you wanted exposure to the price you'd be better off with an ETF / mining stocks.
That way you avoid the risks of theft / counterfeit bullion too.

Horses for courses etc.

Who in the real world owns little lumps of gold?, what world are you people living in.

westernpromise

I reckon they also bury tins of beans in the back garden.

Mistermeaner

I guess if the zombie apocalypse does happen and world order calls apart those that survive will be exactly the kind of folk who would pointlessly trade food for worthless gold

They'll last a few weeks more than the rest of us

Until they realise the best investment was in fact guns .... Lead might be a better buy

edgex

Peter_Williams wrote: »

I consider physical precious metals an insurance, not an investment.

You can't live in them though.
A property you own, you can live in it.
(even if you've got a mortgage, if there was a massively major financial crash, they would not be a priority to be dealt with)

Peter_Williams wrote: »

Gold is a physical asset that can be held outside of the financial system.
Having millions in a share portfolio isn't much good if the banks are shut and the website down / closed.
How are you going to access your money?

How can you realise it's cash value outside of the system though?
If all banks are shut, then all other financial services are shut. How can you extract the cash value of your gold?

Peter_Williams wrote: »

If you're confident that your income is secure and that you will always be able to access your cash (assuming you are paid by bank transfer, not cash in hand?). Plus if you're happy for the govt to know about all your assets / savings, then I agree, don't bother to hold physical gold.
Physical gold is really about privacy and security and you pay a price for that.

:rotfl:

How do you pay for the gold? Who are you buying it via? Where is it being held?
If the gov want to know who is buying gold, they can very easily find out.

DannyGold

The £ is tumbling so gold will skyrocket in the £ as well as every currency

westernpromise

So you could instead buy dollars, get the same gain versus sterling, but also get an income from them.