Gold as an investment.

[gavroche]

I am not a wealthy person but my savings are not returning anything nowadays. I don't trust stock and shares and will not go that way and was thinking of buying gold but have no idea of how to do it so here are my questions for any of you experts in the matter:
- Where do I buy gold from?
- In what shape does it come?
- How do I resell it when the time comes?
- Is there commission to be paid when buying and selling?
I am looking forward to seeing your answers. Many thanks.

 

[screenman]

I thought it was at quite a high price at the moment, I could well be wrong.

 

[Deleted member 26715]

I had a source of 1oz gold ingots in about 1986 they were just over £100 each, looking at what a 1986 £100 is worth now it says £249 https://www.inflationtool.com/british-pound/1986-to-present-value but the price of 1oz gold today is £1,367, so on that basis they would appear to be a good investment.

I wouldn't know as although I had a source I could never afford to buy any for myself & I suspect I would have sold them before now had I anyway.

 

[PeteXXX]

If you do buy gold, it won't necessarily be an ingot to keep under the stairs. You can pay to have it stored.

 

[Deleted member 26715]

If you do buy gold, it won't necessarily be an ingot to keep under the stairs. You can pay to have it stored.

But at nearly £2K an ounce you don't need that much space for even £100k's worth

 

[Gunk]

I bought my son a 100g block of silver at Christmas and price has shot up recently.

not as much as Turbo trainers though, I wish I’d bought a few of them pre Coronavirus!

 

[gavroche]

But at nearly £2K an ounce you don't need that much space for even £100k's worth

£100k ?????? I wish.

 

[steveindenmark]

I bought my son a 100g block of silver at Christmas and price has shot up recently.

not as much as Turbo trainers though, I wish I’d bought a few of them pre Coronavirus!

Or Guiness or Interflora

 

[Cycleops]

Gold always appreciates when currencies are shaky and there is uncertainty like now.
Gold as an investment has always lured people so there are always those who supposedly trade in gold who say they can make money for you.
Living in a country that produces the stuff it's always tempting to believe people who say they can obtain 'cheap' gold for you, in fact there are quite a few fraudsters who offer fantastic deals.
Besides that there are some who boast high returns if you invest with them, one such fell to earth recently:
https://www.cedidollar.com/menzgold-scandal-ceo-faces-61-charges/
Maybe we should ask James Stunt how his bullion dealing came to bankrupt him.

 

[Yellow Saddle]

Gold isn't an investment, just a hedge against inflation. It just keeps track of inflation.

An analogy I once heard goes like this: "If X grams of gold, in the Roman times could buy you a pair of shoes, X-grams of gold can still only buy you a pair of shoes today."

That sounds pessimistic, but insert any monetary value in there and run the same exercise.

Buy gold in coins. The French have one (dunno what it's called) , South Africa has the Kruger Rand etc.

Don't "invest" in those "investment" coins which are graded at the time of sale, on their pristine minting characteristics or commemorative value etc. A good example is Nelson Mandela Kruger Rands. These were sold at a higher price than plain gold coins for the same weight. Today, they're just worth whatever the price of gold is.

Stay away from jewelry too. Most of the value in that is locked up in the retail cost, which disappears the minute you leave the jeweler's shop.

 

[Beebo]

Gold is a safe place to keep money during turbulent times when stocks look volatile. Which is why the value is currently so high.
you will have to incur a fee to buy and sell like any commodity.

 

[fossyant]

Turbo trainers are the new gold.

 

[Archie_tect]

If you have spare money that you don't need, send it to me...

 

[figbat]

How about oil? That’s at a pretty deep low right now.

 

[Milkfloat]

I purchased a few thousand pounds of gold back in 2010 (mainly Sovereign coins) and again at 2016 when the spot price hit £750, I also purchased quite a few silver dollars by the tube when I spent a lot of time in the US. I bought common coins every time as they are easier to sell and a very cost effective way to buy. I bought them as the ultimate insurance to supplement my stocks and share. At the moment I could sell a quite a profit but would rather sit on them as to cash them in and throw money into the depressed stock market is not a risk I am willing to take. A paid a little bit of a premium for a few coins, sovereigns and krugerrands in mint conditions for family birth years, but the majority were bought in bulk by the weight. I am not giving financial advice, but for me I will not sell right now but neither would I buy.