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Gold strategy in the current economy

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33 minutes ago, dirtyduck said:

Not sure where you are but my best offer was bullionbypost who buy back at á 2% of purchase price (i cant remember the exact tbh).  But just for people reading...you ofc pay a premium above spot for your coins ect.  The best i purchased were old sovereigns as they have more collectable value, but wayy above spot. 

However the main point being dont put your eggs in one basket.  The 10% rule is probably best.  Buy 10% gold and forget about it - the best case scenario , youll never need it and pass it on to your kids when your dead.  If you start throwing everything at gold in the hope of a big win, your nuts.  Just my opinion and i still like my shiny, its mine , all mine.

I would recommend anyone UK centric to work with either the dealers in the Jewelery Quarter in Hockley which is obviously central  or the dealers in Hatton Garden in London.Eventhough a 1.5 mile walk would be an easy and quick way for me to liquidate my metal ....it would be more than worth my while for buying and selling purposes to go to one of the above ....as my purchase spread would me minimised and my sell price would be much higher than my local town would give me.

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On 05/08/2019 at 12:17, dirtyduck said:

However the main point being dont put your eggs in one basket.  The 10% rule is probably best.  Buy 10% gold and forget about it - the best case scenario , youll never need it and pass it on to your kids when your dead.  If you start throwing everything at gold in the hope of a big win, your nuts.  Just my opinion and i still like my shiny, its mine , all mine.

I'm nuts then😉

Up 350%, 250% & 40% so far on my buys. And of course,  the taxman can go and swivel on  it as well and no parasitical middle men annually leaching a % or two in "fees".

@ Current price = 5 years to retirement

@£1500 = 4 years

@£2000 = 3 years

@£3000 = retire now.

 

 

 

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1 hour ago, Fishfinger said:

I'm nuts then😉

Up 350%, 250% & 40% so far on my buys. And of course,  the taxman can go and swivel on  it as well and no parasitical middle men annually leaching a % or two in "fees".

@ Current price = 5 years to retirement

@£1500 = 4 years

@£2000 = 3 years

@£3000 = retire now.

 

 

 

Well yea.  You obvoiusly got in at the right time and genuine congratz on that.  But from when i started buying around 800 average i made far more from equities/stocks on Hargreaves Landsdown and they payed dividends. 

In the end i think Martin Armstrongs view on Gold is best.  As people lose more confidence in gov , the gold (and other asset prices) will go up.  He thinks 5k$ per oz at peak, but that price might just equal a weeks wages by then.....so.   Im hanging on to mine anyway.

Gold had a strange effect on me in that it made me foam at the mouth. I was impartial about other investments ....up or down.   I remember reading RK on here he gave some balance and i hated reading his posts.

So my nuts comment is to new people reading the posts and thinking on betting their life savings on gold. 

 

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35 minutes ago, dirtyduck said:

 

In the end i think Martin Armstrongs view on Gold is best.  As people lose more confidence in gov , the gold (and other asset prices) will go up.  He thinks 5k$ per oz at peak, but that price might just equal a weeks wages by then.....so.   Im hanging on to mine anyway.

 

 

Martin has been just as wrong as he's been right. $5K gold is not hyper inflation, $50K gold is.

I'm of the belief that the current system will fail or at least be reset whilst all being underpinned by gold. A new gold standard is coming into play.

It's increasingly beginning to look like the world of paper will revert to it's intrinsic value of nought. 

 

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23 minutes ago, Fishfinger said:

Martin has been just as wrong as he's been right. $5K gold is not hyper inflation, $50K gold is.

I'm of the belief that the current system will fail or at least be reset whilst all being underpinned by gold. A new gold standard is coming into play.

It's increasingly beginning to look like the world of paper will revert to it's intrinsic value of nought. 

 

It might be that hyperinflation isnt on the cards, but stagflation.  The governmants hunt for taxes forcing people to spend less in general, while food , for example, rockets up. 

Its going to get pretty nasty, no doubt.  But i rememember the 2008 era and thinking that it was all about to colapse at any moment.  Ive still got a few boxes of 40 year freeze dried food :) Now i just believe that the plebs lifes (myself included), will just become far worse off and the sky wont fall down. On this basis you can probably make more sticking your cash into a stocks and shares ISA and of course a small % into gold in the hope you will never need it. 

I cant see another gold standard comming - It just ends with a few holding all the gold and misery for most.  Bitcoin or a more government controlled version would be more likely.

The one thing i definitely wouldnt do it leave a lump sum in the bank. 

On a final note, i am smiling looking at the gold price tick up.  I have a bunch and silver too.  Im also working in Germany and liking the exchange rate.  So really feeling like a winner right now.

 

 

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1 hour ago, dirtyduck said:

Gold had a strange effect on me in that it made me foam at the mouth. 

You probably shouldn't be eating your gold - although it would pass straight through so you could still salvage it.

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2 hours ago, dirtyduck said:

It might be that hyperinflation isnt on the cards, but stagflation.  The governmants hunt for taxes forcing people to spend less in general, while food , for example, rockets up. 

Its going to get pretty nasty, no doubt.  But i rememember the 2008 era and thinking that it was all about to colapse at any moment.  Ive still got a few boxes of 40 year freeze dried food :) Now i just believe that the plebs lifes (myself included), will just become far worse off and the sky wont fall down. On this basis you can probably make more sticking your cash into a stocks and shares ISA and of course a small % into gold in the hope you will never need it. 

I cant see another gold standard comming - It just ends with a few holding all the gold and misery for most.  Bitcoin or a more government controlled version would be more likely.

The one thing i definitely wouldnt do it leave a lump sum in the bank. 

On a final note, i am smiling looking at the gold price tick up.  I have a bunch and silver too.  Im also working in Germany and liking the exchange rate.  So really feeling like a winner right now.

 

 

There's plenty of posting previously on the hyperinflation -v- stagflation argument so I'll leave this for now but agree it's going to get nasty for most people.

Gold now at £1240! Like you I have silver, bought 200 ozs recently...

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42 minutes ago, Errol said:

I love the silence in the British media about the all time Sterling highs. Barely a mention of it.

I know , but the last time the media really started looking at gold the top was in.  That’s one of my barometers

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I last bought in April when I saw that the US 10 and 3 year had inverted. I bought again today as I think gold has long way to go, the fact that the mainstream media haven’t made a peep fills me with confidence. When the average joe starts talking about it and I see cash for gold everywhere then I’ll dump it.

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13 minutes ago, LetsBuild said:

I last bought in April when I saw that the US 10 and 3 year had inverted. I bought again today as I think gold has long way to go, the fact that the mainstream media haven’t made a peep fills me with confidence. When the average joe starts talking about it and I see cash for gold everywhere then I’ll dump it.

The cash 4 for gold thing has been done and dusted .....they emptied everyone's homes of bits of scrap and anything they could find 10 years ago ...the general populace were fleeced of their only real wealth they had then....now the only thing left for them that is real is tears .!!

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In this environment I'm not sure 10% is the best strategy for Gold. I have 20% in PM's at the moment.

My question is, is anyone here into GoldStocks ? I'm pretty sure they will take a big hit when the DJIA finally crashes. 

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2 hours ago, hurlerontheditch said:

what are peoples thoughts on gold ETFs vs currency hedged gold ETFs. i assume its better to hold a $ ETF as you get the double whammy of gold going up and pound tanking

Physical. ...physical....physical...

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2 hours ago, hurlerontheditch said:

what are peoples thoughts on gold ETFs vs currency hedged gold ETFs. i assume its better to hold a $ ETF as you get the double whammy of gold going up and pound tanking

It's fine to play with ETFs (I have GDX, GDXJ etc etc), but don't make the mistake and think that you own any gold through these. There is no substitute for physical gold.

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2 hours ago, Errol said:

Fully detached is the way to go.

:lol: if things carry on like this. Loadsa money, doin up the 'ouse!

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5 hours ago, Errol said:

It's fine to play with ETFs (I have GDX, GDXJ etc etc), but don't make the mistake and think that you own any gold through these. There is no substitute for physical gold.

Except of course the NEW GOLD ...CRAPTO and BITBOLL#X....obviously they are the future and so much more valuable than the BARBOROUS RELIC.😉

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19 hours ago, Errol said:

It's fine to play with ETFs (I have GDX, GDXJ etc etc), but don't make the mistake and think that you own any gold through these. There is no substitute for physical gold.

I'm considering Goldmoney.... Any pitfalls or concerns ?

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