If so where do you buy from?
There appears to be many online platforms which of course want 30-40% more per gram than the current selling price. Everything I'm reading over the past few months seems to suggest it might possibly be a great time to invest.....any experience?
Edit.....yes buying physical gold and hold it yourself.
Last edited by Franky Four Fingers; 29th May 2019 at 20:00.
Hatton garden metals are well regarded if you wish to buy physical gold and hold it yourself. I used them to buy, and later sell, gold coins. Very efficient it was.
If it’s bullion or gold stored somewhere else, I don’t know, sorry.
Do you want to hold yourself? If yes, the royal mint is actually pretty good.
If not, then Gold Bullion Securities is one option, and Bullionvault another.
What have you read?Originally Posted by Franky Four Fingers
Looking at a gold chart you can see that it has not been able to break past £1000 in the past 5 years. The highest was £1048 and it is £1008 today. The 15 year high is £1149.
With brexit running mock tangible investments seem obvious seeing as gold is invested globally and not just at home.
The fifteen year low is £200, so 5.7x increase is better than Rolex :-)
In seriousness it's a hedge - can perform well when other assets are crashing, so can be a good stabilising aspect to a portfolio. But everyone's needs are different and beliefs different, so may not suit for all.
Buying shares in gold mining companies is also very good. When the price of gold goes up, the share prices rocket as do the dividends.
As always, don't be a plonker and buy at the top of the curve, obvious advice but millions still do it.
One of the better options i've used are gold sovereigns from Atkinsons bullion dealers, they are reliable and offer a good selection of bullion coins at excellent prices.
Paul Atkinson is a brilliant guy to deal with.
Yes hold it myself
Yes a moderate holder, though wouldn't be buying at the moment
Gold Bullion Securities (GBS) can be held in ISA.
If you want exposure to physical then recommend Bullionvault.
Also consider exposure to miners - Exchange Traded Funds GDX and GDXJ
Safest bet is buying physical as long as you have a holding which is insurance approved.
If buying physical then there will be a different price with and without a certificate.
Buy at the right price and it is the Safest commodity to invest in.
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a guy I work with showed me a chart last night showing the price rose 7% last month - that's pretty healthy - I buy coins and lock them away as and when prices are good enough to speculate - gut feel says price will continue to rise a little - then calm down when Trump and Co and Brexit sorts itself
I’m still waiting for the price to drop to £800 an ounce again...I could be waiting a while. Had a healthy collection of krugerrands which I sadly lost my bottle on and sold and now want more. Like buying Rolex, wish I could go back and buy more at a favourable price!
UK Sovereigns and Britannias are CGT free and a good option for longer term holding if the price rises significantly.
There is a good thread on pistonheads why gold is not a good long term investment (as part of a defensive strategy in a large investment portfolio then maybe holding a small amount but otherwise... ).
https://www.pistonheads.com/gassing/...&t=1735735&i=0
Cheapest gold is Baird & Co London. I use them as a price checker for everyone else and have bought from them many times.
You can also go and pick up pieces from them. www.bairdmint.com
Oh, and remember, gold is a repository rather than active investment. But, it seems there's a recession coming...
Goldmoney is halfing its buy fees today as a special offer.
Why....?
At a slight tangent to this, if I were to buy 1 Troy oz which at today’s prices is circa £1100. How much would I expect to receive if I were to sell it straight away to a scrap dealer? Would it be the £1067 which is listed as today’s gold price or less than that?
I was always under the impression the margin was around 5% over or 5% below spot whether you were buying or selling...at least it used to be with Hatton garden metals when I was buying a few years back.
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Not in the UK, they hold the bullion, never heard of them, some horrific Trustpilot reviews....feck that!
Last edited by 33JS; 19th June 2019 at 07:57.
One other point to remember if you elect to buy into goldmines is that your profit is not only dependant on the price of gold rising which should give you a very good dividend as well as an increase in share price, but the currency variations also play an important effect.
During the 1980s I bought into an Australian mine and although the price of gold went up, the Australian currency fluctuations wiped the profit out.
I made a really good profit in the end, even after after taking inflation into account, but it took over 10 years. Just remember shares are for investment and not the usual casual flipping. Only do it if you can forget about the money in the short term.
Gold had a great day today - up $30, in 8 weeks a rise of $110 - it might be the start of interesting shiny times..
I used them myself 10 years ago with no problems. Yes they hold the bullion in a vault of of your choice across various countries,, yes you can ask for it to be delivered.
They are extremely well known.
https://moneyweek.com/509480/gold-ha...rce=newsletter
Time to fill your boots?
Since the last update on this thread, gold currently stands at £1240 an ounce. Quite a rise!
Sorry if this has been mentioned, but would you go bullion or coins?
In my opinion: Coins, specifically UK VAT-free and CGT-free bullion coins. That is to say Sovereigns, Britannias, and similar.
Cheers!
👍
I have shares in 2 gold miners both have performed well over the past couple of months. Hopefully $1500 can be successful breached, onwards and upwards.
Another vote for coins. I’ve bought my daughter a sovereign every year from birth, usually try and pay around £250. I might have to up my budget for next year.
Balls, wish I'd have gone with what I'd read now and got a bit more....oh well!
Been buying gold bullion and silver coins since $1050/$15 an oz simply as a hedge against currency fluctuations. There’s an anecdote that the price of gold never moves, only the currencies it’s priced in. Either way the great great J P Morgan stated that gold is money, everything else is debt (paraphrasing)
My gold crowns just fell out, just wondering how much that’s worth.
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.12345
Last edited by jambobbyb; 2nd September 2019 at 19:12.
Oh very useful! Thanks for that link.
About £38 a gram atm.
It's not just gold that's rising Silver has been making small moderate gains, and currently sits around £14.08 an ounce , could be a very good time to stock up.
It’s worth keeping then. I’ll lock it in the safe.
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or have it stuck back on. A new one might cost you £600
Physical investment Gold has a couple of advantages.
1. Its VAT free .
2. It will likely never get wiped out as an investment : its always going to be worth something even if you make a loss.
3. It seems to track a number of indexes according to the tinfoil hat brigade. Housing , food etc. So can be used as a hedge .
What I used to do was watch the Nymex mainly and put buy or sell orders into Goldmoney . You get a 5minute countdown with the price fixed so can cancel if the price is going the wrong way or dump at a higher price if the market is in freefall.
I often used to dump at the opening and buy back when the price had dropped. Whilst I made some money this way I barely broke even. Just buying on the dips and leaving it would have been more profitable in the long run. However I judged my get out perfectly to within a day of the market tanking back in 2009. Walked away but you can make some money if you can afford the time to actively watch the NYMEX and to a lesser extent the LME.
Also I found watching the price of silver tended to lead gold by maybe 30minutes or so but there is a lot of tinfoil hat nonsense out there on the forums. Kitco was what I used to watch the market.
I never got into shorting , just buying and selling physical . I made about 25% profit from a £60k initial pot in about two months . I’d probably have made closer to 30% just by sitting back but I doubt I’d gave judged my exit as well without having got my hands dirty for the two months. The market is a different beast now though. I might give it another go.
Thought of that, but the root has to be removed. Not done bad it’s stayed there for nearly 20 years.
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But, why has he only got four fingers?
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I make stupid bets with dangerous people
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