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Piling Back Into Gold

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I'm thinking about piling back into gold as I've run out of places to put my money.

Anyone think the gold price could plummet?

Is goldmoney still considered a decent place to trade?

Run out of places to put money?

Where else have you put it that is beating inflation and doesnt keep you awake at night?

am not taking the michael btw, am genuinely interested.

Edited by richyc

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I'm thinking about piling back into gold as I've run out of places to put my money.

Anyone think the gold price could plummet?

Is goldmoney still considered a decent place to trade?

Would steer clear of anything but buying physical gold that you can keep in your possession if I were you. Goldmoney has margins of about 2% and is easy if you want to trade, however there are reports they may not have the gold to back their accounts, not to mention your account can be taxed or withheld at the stroke of a pen should the government deem it necessary in a 'national emergency'.

If you're in it for long term wealth preservation, and of course potentially massive speculative gains when the wheels finally come off in this financial crisis, then I'd stick with physical.

Of course gold could pull back in the short term, investors are stupid enough to be piling into the Euro right now, so anything can happen, but it's pretty certain it's a long term winner, unless interest rates suddenly fly back up, which isn't going to happen until things are beyond stupid.

Of course you could wait for the next gold price dip, but then you might not get your dip and could end up missing out. Best strategy is to divide your total purchases over the course of a few weeks to smooth out volatility, well that's generally the best thing unless gold goes on a massive tear from here. Personally I think it will hang around the 1300 mark for a bit, as it's one if those psychological barrier levels that needs to be consolidated against and then smashed, before gold has it's next leg up.

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Of course gold could pull back in the short term, investors are stupid enough to be piling into the Euro right now, so anything can happen, but it's pretty certain it's a long term winner, unless interest rates suddenly fly back up, which isn't going to happen until things are beyond stupid.

Nice to see someone else thinking this too... Guess they are hoping the PIIGS won't blow again - best of luck there...

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Would steer clear of anything but buying physical gold that you can keep in your possession if I were you. Goldmoney has margins of about 2% and is easy if you want to trade, however there are reports they may not have the gold to back their accounts, not to mention your account can be taxed or withheld at the stroke of a pen should the government deem it necessary in a 'national emergency'.

If you're in it for long term wealth preservation, and of course potentially massive speculative gains when the wheels finally come off in this financial crisis, then I'd stick with physical.

Of course gold could pull back in the short term, investors are stupid enough to be piling into the Euro right now, so anything can happen, but it's pretty certain it's a long term winner, unless interest rates suddenly fly back up, which isn't going to happen until things are beyond stupid.

Of course you could wait for the next gold price dip, but then you might not get your dip and could end up missing out. Best strategy is to divide your total purchases over the course of a few weeks to smooth out volatility, well that's generally the best thing unless gold goes on a massive tear from here. Personally I think it will hang around the 1300 mark for a bit, as it's one if those psychological barrier levels that needs to be consolidated against and then smashed, before gold has it's next leg up.

The spreads on kruggerands look nasty - near 10%!

I had heard that about goldmoney; it does make me nervous.

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Run out of places to put money?

Where else have you put it that is beating inflation and doesnt keep you awake at night?

am not taking the michael btw, am genuinely interested.

My biggest expense (rent) is actually falling and fixed for some time, so I'm not lying awake at night ;-)

Half my money is in NS&I index-linked bonds.

The remainder is in my wife's name in various bank bonds (she doesn't work, so tax-free) spread over several years.

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The spreads on kruggerands look nasty - near 10%!

I had heard that about goldmoney; it does make me nervous.

Stupid question time. I know coins sell at a premium. But don't you sell at a premium also, or does a dealer give you only say 98% of the current gold spot price and not the current coin price.

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The spreads on kruggerands look nasty - near 10%!

I had heard that about goldmoney; it does make me nervous.

Look at hatton garden metals, 3%, quite reasonable.

I know of better spreads for sovs if you are buying more than 10 or 20 halves.

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I would suggest having some in Goldmoney or BV for easy trading/liquidation. Goldmoney does allow you to take possession in 100g bars, IIRC, with BV it's a bit trickier.

If you want to keep the stuff in your house, I wouldn't go for Krugs, but look at Sovs/Brits, which are CGT exempt, and if there is a big fiat blowup, then you can avoid the inevitable CGT that such a devaluation of Sterling would entail. However, I don't know where you are domiciled for tax purposes, so this consideration may not apply.

Also, I have heard that a lot of the dealers are not putting any spreads on selling and are buying at spot, so keen are they to get their hands on the stuff. However, this does mean that the buyer is paying the full whack of the spread.

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not used them yet but these came recommended http://www.elminvestments.co.uk/gold-coins.html

they have the best prices I have found for sovs but minimum order is 10 full or 20 halves. They are a bit medieval though, only take payment by check and you have to pay extra postage to get it there next day to fix the price. Stay under 5k otherwise the money laundering regs become a pain in the rear having to prove identity.

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I'm thinking about piling back into gold as I've run out of places to put my money.

Anyone think the gold price could plummet?

Is goldmoney still considered a decent place to trade?

I think there is a good risk of a plummet in the short term. If it does so, it will be quite soon. After that, then the ride of our lives will be up for grabs. GoldMoney is the safest way to go. I have sold half my holding pending correction possibility. I do favour Silver over gold for my next purchase.

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not used them yet but these came recommended http://www.elminvestments.co.uk/gold-coins.html

they have the best prices I have found for sovs but minimum order is 10 full or 20 halves. They are a bit medieval though, only take payment by check and you have to pay extra postage to get it there next day to fix the price. Stay under 5k otherwise the money laundering regs become a pain in the rear having to prove identity.

Apologies for drifting a bit off topic but who/what was the recommendation? I've tried searching the forum for positive feedback about Elm Investments without success. I'd be interested to hear from anybody who has bought or sold with them.

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Anyone think the gold price could plummet?

In the short term, a nasty slump could happen at any time. I plan to hold for years. Good luck with your trading - you'll need it!

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I think there is a good risk of a plummet in the short term. If it does so, it will be quite soon. After that, then the ride of our lives will be up for grabs. GoldMoney is the safest way to go. I have sold half my holding pending correction possibility. I do favour Silver over gold for my next purchase.

I trade gold also and have been waiting for this ' big correction' for the last 3 weeks but as yet no sign, I can't see it going below 1262 there are just too many buyers waiting at these low prices and its a strong support level. if it doesgo to 1260 though I'd be a buyer at that price. here's hoping. :rolleyes:

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Apologies for drifting a bit off topic but who/what was the recommendation? I've tried searching the forum for positive feedback about Elm Investments without success. I'd be interested to hear from anybody who has bought or sold with them.

no one from the internet but a personal friend that has used them.

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I trade gold also and have been waiting for this ' big correction' for the last 3 weeks but as yet no sign, I can't see it going below 1262 there are just too many buyers waiting at these low prices and its a strong support level. if it doesgo to 1260 though I'd be a buyer at that price. here's hoping. :rolleyes:

I see the £ value is taking a hit as the $ slips back. I sold etf in pounds yesterday because it was slipping fast as the pound went up against the doller. may buy again in dollers next week if it carries on

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however there are reports they may not have the gold to back their accounts

I had heard that about goldmoney; it does make me nervous.

Does anyone have any links relating to this, I'm afraid I can't seem to get Google to look in the right places.

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I see the £ value is taking a hit as the $ slips back. I sold etf in pounds yesterday because it was slipping fast as the pound went up against the doller. may buy again in dollers next week if it carries on

Yes I don't like the idea that gold in gbp is now @820 when back in may was 850, heres hoping for some new UK QE

been watching usd/eur last few weeks but more importantly the usd/jpn have you seen those recent BOJ early morning interventions? I've been getting up bright and early to check, great short scalping opp.

Edited by goldfever

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Yes I don't like the idea that gold in gbp is now @820 when back in may was 850, heres hoping for some new UK QE

been watching usd/eur last few weeks but more importantly the usd/jpn have you seen those recent BOJ early morning interventions? I've been getting up bright and early to check, great short scalping opp.

It makes it more of a forex gamble now, rather than gold as a hedge. Exchange rate seems to be changing faster than the price of gold.

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I'm thinking about piling back into gold as I've run out of places to put my money.

Anyone think the gold price could plummet?

Is goldmoney still considered a decent place to trade?

******, i might have known. Bought some yesterday and its dropping like a stone. Maybe the BOE is right. Spend it.

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Yes I don't like the idea that gold in gbp is now @820 when back in may was 850, heres hoping for some new UK QE

been watching usd/eur last few weeks but more importantly the usd/jpn have you seen those recent BOJ early morning interventions? I've been getting up bright and early to check, great short scalping opp.

Gold is now £828.48p. It's going to be breaking that £850 soon.

Don't look at a gift horse in the mouth.

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  • 150 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% +
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