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littleickle

A Good Time To Buy Gold?

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Hi long time lurker looking for a little advice regarding diversifying the money I have been saving for a deposit.

I have £29000 currently split between ISAs and Alliance and Leicester 3.65 savings account and am a higher rate tax payer.

I have read through a lot of the posts both here and in the Gold sections and have come up with the following plan.

Move £3000 into Swiss francs savings account through www.swissquote.ch, seems to be fee free and 1.5% interest paid.

Use another £3000 to buy 1 ounce gold bullion bars and 1 kilo silver bars from ATSBullion.

I wonder if anyone else has used www.swissquote.ch and would they recommend them? I am concerned that I am jumping into this too late, Gold and silver have increased, the pound has fallen badly against the franc etc. However I am inclined to do this anyway as I think things are going to get worse.

Also as I am planning to use the money I have saved as a deposit for a house and the prices of houses are falling, I'm concerned that I may be over reacting with these measures?

Anyway any advice anyone could give me with this would be much appreciated, thanks for your time

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Hi long time lurker looking for a little advice regarding diversifying the money I have been saving for a deposit.

I have £29000 currently split between ISAs and Alliance and Leicester 3.65 savings account and am a higher rate tax payer.

I have read through a lot of the posts both here and in the Gold sections and have come up with the following plan.

Move £3000 into Swiss francs savings account through www.swissquote.ch, seems to be fee free and 1.5% interest paid.

Use another £3000 to buy 1 ounce gold bullion bars and 1 kilo silver bars from ATSBullion.

I wonder if anyone else has used www.swissquote.ch and would they recommend them? I am concerned that I am jumping into this too late, Gold and silver have increased, the pound has fallen badly against the franc etc. However I am inclined to do this anyway as I think things are going to get worse.

Also as I am planning to use the money I have saved as a deposit for a house and the prices of houses are falling, I'm concerned that I may be over reacting with these measures?

Anyway any advice anyone could give me with this would be much appreciated, thanks for your time

unless you are worried that the entire financial system will collapse - probably worth buying through bullionvault.com (google the owner - he's sound). You then don't have the physical ownership issues... but you probably do have a capital GAINS tax issue (you probably have that overseas too... but who knows....)

Look at the historial gold/silver ratio. If gold goes up (and it will. A lot) then silver MIGHT do even better. the gold/silver ratio is way out from the "norm" and looks likely to correct as more people return to physical gold/silver as alternatives to failing fiat currencies.

If gold doubles (at least) then I believe silver will treble (at least)

As with all investments, don't put all your eggs in one basket.

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Re the Jim Sinclair link in the Times - Like a beardless Branson, he plays to the gallery, once climbing on to a full-size replica pig to illustrate his upbeat prospectus on farm product prices.

Oh that's what it was IO thought it was the pigs tale :o:lol:

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Guys...anyone studying the gold charts? Is there any chance of a dip towards 800 like we saw a couple of weeks ago?

why not, when do you want it?

joking aside, what the bull have said (if they're right) its still dirt cheap so just buy asap, before £££ crashes.

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Ok thanks for all the advice guys, I've decided to go down the bullionvault route, have opened an account and transferred some money across. I looked at buying physical gold, but the mark up over spot and the worries of storing it put me off. Did anyone have an opinion on Swiss Francs and the account I mentioned?

Cheers

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Ok thanks for all the advice guys, I've decided to go down the bullionvault route, have opened an account and transferred some money across. I looked at buying physical gold, but the mark up over spot and the worries of storing it put me off. Did anyone have an opinion on Swiss Francs and the account I mentioned?

Cheers

Au £646 / oz from £630 in half an hour!!

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Ok thanks for all the advice guys, I've decided to go down the bullionvault route, have opened an account and transferred some money across. I looked at buying physical gold, but the mark up over spot and the worries of storing it put me off. Did anyone have an opinion on Swiss Francs and the account I mentioned?

Cheers

I do like bullionvault, however I do like having some of the physical stuff as well. When I was buying Britannias and Krugerrands 18 months ago for around £350 a pop, I thought that they were expensive, now they are twice that price.

Edited by Take Me Back To London!

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  • 284 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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