Investing in Gold

Thread: Investing in Gold

  1. dpSparhawk's Avatar

    dpSparhawk said:

    Default Investing in Gold

    Would like a bit of advice if I may.

    So, sadly my mum passed away a few weeks ago. I am the Sole benficiary in her will and the amount will be approximately £95,000 as well as a Mortgage free house and at a rough guess, £50,000 in Jewellery (based on certificates of authenticity and valuations done on various pieces)

    The Jewellery I know is already a significant investment, however I'm contemplating the idea of buying some gold. Bullion or Coins as an investment. Saving money in the banks is pointless and earns fuck all.


    Is it really worth a ago? I quite like the idea of having some nice shiny gold coins.
     
  2. Lestronics's Avatar

    Lestronics said:

    Default Re: Investing in Gold

    Firstly. sorry for your loss

    If I had the cash then I would definately invest in Gold ! It always holds its value, someone I know had 30 Gold Krugerands left to them, they was easy to sell on and made a nice profit. So that's what I would invest in South African 1oz Gold Krugerand Coins.


    Regards
     
  3. piggzy's Avatar

    piggzy said:

    Default Re: Investing in Gold

    Got a friend lives near me who moved from South Africa about 3 years ago. He invested in gold heavily which he still says is a good thing to do.
    Down side is he goes through periods of wanting the money but unable to sell due to how poor golds value is at the current time. Obviously he could sell but at a loss and I remember him telling me how gold has been shit for years.

    In his case though it is better than converting Rand to Pound especially as SA restrict taking money from the country but that wont apply to you.
     
  4. ss30's Avatar

    ss30 said:

    Default Re: Investing in Gold

    As piggzy say's the price hasn't been good, as all metals/currancies go up and down in price, if you invest in Gold and want the money in a few years you might need to sell at a loss.
    This is the price in Dollars for 1 Troy Ounce of Gold (around 31.1g) as you can see if you bought around December 2011 you would be $700 down on todays price!


    If you want to invest you can get around 7% intrest(but you need to leave it their for a minium of a year) with companies like Funding Circle and you are protected upto £80k
     
  5. koola2's Avatar

    koola2 said:

    Default Re: Investing in Gold

    Quote Originally Posted by ss30 View Post
    If you want to invest you can get around 7% intrest(but you need to leave it their for a minium of a year) with companies like Funding Circle and you are protected upto £80k
    Thanks Funding Circle looks interesting, I did try zopa a few years ago. I guess this is counted as interest and not earnings so tax free.
     
  6. CzarJunkie's Avatar

    CzarJunkie said:

    Default Re: Investing in Gold

    My preferred p2p option is RateSetter, as you can set your own rate and only have money tied up for as short as a month, or as long as five years.

    As regards gold, now is a good time to buy as it tends to be a cheaper commodity when stocks are rising, which they currently are. Gold usually goes up in price when stock markets crash, and investors look for a safe harbour for their money. I use Bullionvault, it's a straight forward service and you actually own the gold you buy on their markets and it's stored securely for you.
     
  7. dpSparhawk's Avatar

    dpSparhawk said:

    Default Re: Investing in Gold

    Cheers guys. Appreciated.

    Yeah to be honest, I'd be investing and wouldn't need it for potentially 5 - 10 years, maybe longer, maybe less. Thinking of maybe investing £10 - £20k in 1oz coins

    I can't do it right away though CJ as I have to wait for inheritance. I'm the sole benficiary so it's just a case of waiting. I'm just looking at my options in advance
     
  8. hilljd00's Avatar

    hilljd00 said:

    Default Re: Investing in Gold

    Renewable have a 6-8% return.
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