Gold bullion

Discussion in 'Diamond Lil's' started by finknottle, Mar 23, 2013.

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  1. As the interest rates are shite I am considering using a large proportion of my savings to buy gold. Has anyone else considered this?
     
  2. Your a couple if years too late mate.
    No way in hell I would buy gold when it is at it's current high price.
     
  3. A fellow countryman of yours could perhaps advise you on bid/offer price of gold......that is if he knew the difference....



    [​IMG]
     
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  4. Finx, old chum.....I have this 'friend' of mine that used to be a bank manager in Reykjavik a few years ago.....he then set up an investment fund of Hellenic Smaller Companies in Athens.....he is now in the process of looking for venture capitalists on the sun soaked island of Cyprus.......interested ?
     
  5. Finks. I am thinking along the same lines as you. Looking at investing a few thou in gold for my daughters future. I know, as has been pointed out, that gold is high just now but you have to think of the very long term.
    Once I have my gratuity, I will buy gold but probably sovereigns as they also have te collector value. They have been advertising this years sovereign on TV
    Im looking very long term investment at least 30 years though.
    give it a go and see what happens :):)
     
  6. C'mon Finx..............you know it makes sense......


    [​IMG] .....he who dares.....
     
  7. Flags, do you think I am mental? As for Goggsy, enough said.
     
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  8. The price was low in January, relatively speaking so I am waiting patiently for the price to drop again, I have no intention of jumping in with both feet and like you I am thinking long term. I am fed up to my remaining back teeth with bastard banks.

    I was thinking a 50gm bar would be a good starting point.
     
  9. I'd be inclined to stick it under the mattress at present, mate................I heard a buzz about negative interest rates.........thats where you pay the bank for looking after your dosh........the 'Cyprus' effect.......without the sun.
     

  10. Two points here drew..........don't tie it all up for 30 years.....some of it maybe, but give yourself an escape route. Secondly...diversify...don't put all your eggs in one basket....for 30 years you are spoiled for choice....propery, equities, gold....over 30 years.....historically over that period of time they should all do well.
    You could do it yourself, but monitoring the markets/taxation changes etc. over the next 30 years and making decisions may not be your bag............see a financial advisor...I would.
     
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  11. In the last 5 years gold has doubled in price, in another 5 years will it have doubled again or lost its current value, there is the dilemma I would go very carefully.
     

  12. Flags, I can barely squeeze onto my mattress as it is now so close to the ceiling! Banks? I've shit 'em.
     
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  13. I remember them saying that in the 70's......and the 80's.......and the ......oh ...WTF....
    ......what goes around comes around.......its knowing when....its called timing....nothing to do with luck.
    oh...the 70's.... flared trousers....the Bee Gees.....Kruger Rands !....remember them ?.....(No, its not a pop band)......nurse.... my meds please.....!
     
  14. So, tell me more about your socialist principles fink...
     
  15. Finks,

    'savings' are just that, i.e. 'rainy day' money

    investment monies are for......wait for it 'investing' for growth (in most cases as opposed to income) in accordance to your attitude to risk and most importantly taking into account your 'capacity/appetite for loss'

    as has been touched upon in earlier posts - have a dabble by all means but do not put all your eggs in one basket. Do not use your savings for this venture, use money that you can afford to lose (as daft as that sounds)

    buying gold is not a 'regulated' activity per se and therefore there is no consumer protection from the likes of the FSCS

    if you have money to spare i would recommend that you arrange an appointment with an Independent Financial Advisor and invest it based upon his recommendations

    my day job consists of auditing IFA's and checking how they operate their business models in accordance to the 'rules' of the land (and there are aplenty) This also consists of checking the advice that they give to their clients. i can honestly say that at no time in the last 13 years of doing this have i come across any recommendations from an IFA to his clients to have a punt and buy some gold. There are much safer alternatives with the potential for comparative returns

    further details can be provided upon request

    for what it is worth i hope my missive helps
     
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  16. Could still be a risk, the price of gold has dropped 13% since it all time high in 2012 & is still going down, at the moment you stand to lose about 3%PA on your cash if you've got it stashed under the bed, you will risk losing a lot more in bullion if the price continues to drop, bullion like shares are only good for the long game.

    A good short term bet is Barclay's bank shares, they are steadily climbing back up to their previous level & are now starting to pay an annual dividend again.
     
    Last edited: Mar 24, 2013
  17. Bought into Dragon Oil back in 97, only stuck £130 in as I had just bought a house. Forgot all about them and now they are worth £1200. Not a bad return.
     
  18. It does help and thank you. I do wonder why the people of the Middle East, Sub Continent and Asia set so much store in possessing a bit of gold, there has to be something in it.
     
  19. Gold teeth to pay for the funeral ?, perhaps Rocksteady could give us the heads up.
     
  20. Gold has always been the ulitmate currency..........the exchange rate is constant, world wide.
    If you were in Greece and had the choice of being paid in Euros or gold.....which would you choose ?
     

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