Investing in GOLD

[The G.F.P]

ive been considering this for ages and as the price of gold has gone up around 40% in the last year or so i though i might buy some gold coins (soverigns, kougernas ect.)

as the £ is about to be devalued so that its on parity with the $ & EU i though having £10k worth of coins would be good as gold will always be worth money as paper is worthless

any tips

 

[A210AMG]

Just one

Don't wear it all at once

 

[RodgerDodger]

Yes gold will always be worth money - so long as the supply is controlled (history records that silver was rendered valueless when the spanish conquistadors booty was released into the world economy)

what about antiques - maybe paintings i.e., hang your cash on the wall and enjoy it too

 

[travelininstyle]

ive been considering this for ages and as the price of gold has gone up around 40% in the last year or so i though i might buy some gold coins (soverigns, kougernas ect.)

as the £ is about to be devalued so that its on parity with the $ & EU i though having £10k worth of coins would be good as gold will always be worth money as paper is worthless

any tips

Hi GFP,

If you decide to take the plunge,I have some krugerrands I am looking to sell in the future - I am listed on Ebay,with 100% feedback over 5 years and have sold silver,gold and platinum - beware some of the sellers though,there are some right scams going on at the moment - my feedback speaks for itself.

Travelinstyle

 

[Smiley]

easiest way is to buy an exchange traded fund in gold - the ticker symbol is PHAU. You can buy through any share dealing service. Much more liquid and less difference between buying and selling than buying coins from a dealer.

 

[crockers]

as the £ is about to be devalued so that its on parity with the $ & EU i though having £10k worth of coins would be good as gold will always be worth money as paper is worthless

any tips

Interesting quote... $1 is currently €.75 at the moment.

So are you expecting the euro to strengthen or the dollar to weaken?

if euro strengthens then it will be worth more than a £ - if dollar weakens then that will be worth less than current $1.40 - so it is hard to envisage the £ being on parity with both currencies.

 

[The G.F.P]

thing is i would not know real gold from a chocolate gold coin

i listen to an american internet radio station (alex jones) and he has adverts about buying them and that made me think

id only do it if i had the coins in my hand and not on paper

pm me with your ebay site (ive been using ebay since 2000 when it was usa only)

 

[Smiley]

The easiest and cheapest way is to buy an exchange traded fund - the ticker symbol for the gold fund is PHAU.
Remember that you are betting on currency movement as well as gold is priced in dollars - most of the recent 40% GBP price rise has been down to the movement of the pound against the dollar. The dollar could turn - it beats me whay it has become so strong so quickly - they have the same awful economic and debt problems that we do.
Usually gold is a hedge against inflation not deflation which is what we have more of today.

 

[The G.F.P]

Interesting quote... $1 is currently €.75 at the moment.

So are you expecting the euro to strengthen or the dollar to weaken?

if euro strengthens then it will be worth more than a £ - if dollar weakens then that will be worth less than current $1.40 - so it is hard to envisage the £ being on parity with both currencies.

it will go one of 2 ways, the 4 main regions will have new currencies, the usa, canada & mexico will have the amero, we will be forced into the euro and asia will have one as will africa

the other way is to weaken the dollar just like they have done to the pound and then have parity world wide and then have a single world currency as then the banks will controll the entire world (like they dont already) and then one day have a cashless society where they can track what we do to the n'th degree

its all a matter of time

could be wrong but thats where its all heading as far as i can see

 

[Smiley]

it will go one of 2 ways, the 4 main regions will have new currencies, the usa, canada & mexico will have the amero, we will be forced into the euro and asia will have one as will africa

the other way is to weaken the dollar just like they have done to the pound and then have parity world wide and then have a single world currency as then the banks will controll the entire world (like they dont already) and then one day have a cashless society where they can track what we do to the n'th degree

its all a matter of time

could be wrong but thats where its all heading as far as i can see

I cant see Russia and China giving up their own currencies - they can control their economic activity through interest and exchange rates. They are going to become more powerful as the holders of the assets - along with middle east investors and sovereign wealth funds. There is a shift in who owns the worlds assets going on right now - the west has borrowed a shed load of money from the east to buy goods made by the east and now we have to settle up with them - and as we have no manufactured goods to sell back to them they are going to take our assets off us at knock down prices to settle the debts. It is all very very sad.

 

[crammy69]

Its all well and good buying Gold as a hedge against inflation, but I read today in fact that back in the 30's the US government made it illegal to hold gold privately, and confiscated private Gold!. However if you are going to do it because your concerned about the pound becoming worthless then make sure you buy throught someone reputable. I have seen the name Chards mentioned positively on a few forums regarding buying physical gold. Good luck!

 

[The G.F.P]

drugs are illegal but most of the people on this planet have them or can get them in a very short lenght of time so even if they made gold illegal what can they really do

Smiley, yes i cant see China or Russia playing ball in the NWO/Bilderberg scenarios but the uk & usa are getting financially raped by the rest of the world as we make nothing, own nothing, have nothing and owe everybody

the russians have been a sleeping giant and are now about to come back in and along with china be the 2 new super powers

sooner the better we stop bleeding our cash abroad on wars & other such pointless activities as we need to shut up shop and start to look after ourselfs and not annoy anyone and rebuild from within

im no leftie by a long strech but the time has come to stop piggybacking the yanks with every stupid idea they have, obama will contary to popular belife not save the usa and the world but just continue their downward spiral into where ever they belong, obama is owned by the same people who owned bush and hilary

 

[Dryce]

drugs are illegal but most of the people on this planet have them or can get them in a very short lenght of time so even if they made gold illegal what can they really do

If you want to own/sell/buy something that is illegal to trade then that adds significant risk to ownership and your ability to make a safe transaction.

Smiley, yes i cant see China or Russia playing ball in the NWO/Bilderberg scenarios but the uk & usa are getting financially raped by the rest of the world as we make nothing, own nothing, have nothing and owe everybody

Actually UK and US own a lot of manufacturing capability and rights. UK has extensive coal and oil resources. US has massive natural resources and agriculture. Both countries have manufacturing capability. Eg. UK is capable of making 1,000,000 + quality vehicles per year. (Whether anybody wants to buy is another matter given the market).

the russians have been a sleeping giant and are now about to come back in and along with china be the 2 new super powers

Russia is an interesting mess, not a sleeping giant. China is actually quite a poor country despite the media hype. Currently the US is leagues ahead of both of them in terms of being *the* superpower.

If I was a Chinese or Russian politician watching the US in Iraq I'd be concerned. The US is showing staying power, adaptability, and is continually refining and evolving its in-field capability. It's doing it in a way that the Russians didn't manage in Afghanistan. The media tend to represent the US political and military machinery as over-paid, arrogant, and hick as if they throw money and firepower at a problem - they forget the sophistication and brainpower and willpower are there in force.

 

[Biscuit]

it will go one of 2 ways, the 4 main regions will have new currencies, the usa, canada & mexico will have the amero, we will be forced into the euro and asia will have one as will africa

the other way is to weaken the dollar just like they have done to the pound and then have parity world wide and then have a single world currency as then the banks will controll the entire world (like they dont already) and then one day have a cashless society where they can track what we do to the n'th degree

its all a matter of time

could be wrong but thats where its all heading as far as i can see

Invest in gold if you predict that what you pay for it is likely to lose value. but don't forget that people with more money and more experience are generally way ahead of you. i would stick to the maxim that you shouldn't risk more than you can afford to lose.

as an aside I would be very careful basing any investment strategy on the conspiracy theories surrounding the amero.

http://www.boston.com/bostonglobe/ideas/articles/2007/11/25/the_amero_conspiracy/

 

[Ted]

Remember that gold is priced in dollars, and if that is weak, the value will be less.
I had a meeting with Coutts (name drop there) last week, and from the stats they gave me the value of gold has remained static over the last year.
I can probably scan/pm you the graphs if you like.

 

[Rovinghawk]

as the price of gold has gone up around 40% in the last year or so i though i might buy

Generally, a better time to buy is when the price has gone down, not up.
Buy something where the price has fallen recently, eg property or shares.

RH

 

[Smiley]

Remember that gold is priced in dollars, and if that is weak, the value will be less.
I had a meeting with Coutts (name drop there) last week, and from the stats they gave me the value of gold has remained static over the last year.
I can probably scan/pm you the graphs if you like.

Hmm well just shows the big names dont know what they are talking about. Gold has shot up recently in sterling terms - but mainly because of the fall in sterling.

 

[Ted]

Hmm well just shows the big names dont know what they are talking about. Gold has shot up recently in sterling terms - but mainly because of the fall in sterling.

Have to admit I was surprised - but that was their explanation.

 

[Smiley]

Generally, a better time to buy is when the price has gone down, not up.
Buy something where the price has fallen recently, eg property or shares.

RH

There is another old saying about dont try to catch a falling knife - and look how well that could have served you. Last year people were saying look how cheap RBS is - when it fell from nearly £20 to £2 - now look at it - between 10 and 15 pence.
Property is a one way bet right now so dont be looking for short term gains.

 

[Smiley]

drugs are illegal but most of the people on this planet have them or can get them in a very short lenght of time so even if they made gold illegal what can they really do

Smiley, yes i cant see China or Russia playing ball in the NWO/Bilderberg scenarios but the uk & usa are getting financially raped by the rest of the world as we make nothing, own nothing, have nothing and owe everybody

the russians have been a sleeping giant and are now about to come back in and along with china be the 2 new super powers

sooner the better we stop bleeding our cash abroad on wars & other such pointless activities as we need to shut up shop and start to look after ourselfs and not annoy anyone and rebuild from within

im no leftie by a long strech but the time has come to stop piggybacking the yanks with every stupid idea they have, obama will contary to popular belife not save the usa and the world but just continue their downward spiral into where ever they belong, obama is owned by the same people who owned bush and hilary

I 100% agree with you about getting the focus back on the UK and stop pretending that we are some sort of world super power that has to send its troops all over the place - how 19th century is THAT?
Maybe we are going to become a low cost manufacturer, maybe we are going to become an agricultural specialist - we have the right climate and land and the world needs food - but I wish we would have the leadership to create that destiny instead of encoruaging us to spend spend spend - on what - imported TVs from Korea. How the heck is that going to help?

Rant nearly over.....