Investing in gold, any experience? - HotUKDeals
We use cookie files to improve site functionality and personalisation. By continuing to use HUKD, you accept our cookie and privacy policy.
Get the HUKD app free at Google Play

Search Error

An error occurred when searching, please try again!

Login / Sign UpSubmit

Investing in gold, any experience?

numptyj Avatar
5y, 9m agoPosted 5 years, 9 months ago
whats happening Misk.

As above title really, anyone here got experience buying/selling gold as an investment?

I was looking at a website last night (cant find the link again cos im at work at the mo d'oh) but you can buy and sell gold on there and you can either take delivery of the gold or you can pay extra for them to hold it in their branches in London, Zurich or Malaysia.

As with any investment I know there would be some risk invovled but just wanted to gauge peoples experiences and whether they have any sites they can recommend that they've used etc

much love NJ xx
numptyj Avatar
5y, 9m agoPosted 5 years, 9 months ago
Options

All Comments

(36) Jump to unreadPost a comment
Comments/page:
banned 1 Like #1
Dont have any knowledge on buying and selling gold, but it you need to make some easy money and get a free holiday to Thailand, a mate of mine needs a small package brought back that he doesnt trust the postal service with.
#2
guv
Dont have any knowledge on buying and selling gold, but it you need to make some easy money and get a free holiday to Thailand, a mate of mine needs a small package brought back that he doesnt trust the postal service with.


sounds good, and sounds like there is no risk invovled. PM sent :p

Edited By: numptyj on Apr 18, 2011 12:47
banned 1 Like #3
Bit late. 2002 would have been better. Triple return from any investment made then.

Spend whatever money you have to invest in a flux capacitor.

Edited By: JonnyTwoToes on Apr 18, 2011 12:51
#4
JonnyTwoToes
Bit late. 2002 would have been better. Triple return from any investment made then.

Spend whatever money you have to invest in a flux capacitor.


ok thanks!

brb investing money I didnt have in 2002 when I was 13/14
#5
Gold is a commodity that is great to have when the rest of the world is sinking. The price of shot up significantly when the banks told the governments they have no cash, Rangold Resources (FTSE:RRS) doubled their share price in in 2008-2009 due to the price of gold! (they are a mining company specialising in gold mining). Since then their share price has gone down.... sorry mate.

Some useful infromation above, would be worth investing in green energy, technology, etc. If oyu want i can trade shares on your behalf, all i need is your bank details....All the best. Man from Nigeria :)
#6
silver..
banned 1 Like #7
mumbojumbo
If guv's little project doesn't work out then you may want to consider jewellery or coins.
Forget the 9ct gold stuff from the UK high street - this is subject to disproportionately high mark-ups for the 'design' and the resale value is usually poor. Asian gold jewellery tends to be 99.9% pure (24ct). Buy from a reputable dealer and it will come hallmarked and with an invoice that shows the exact weight - the price of the piece will be calculated at the time of sale using the daily gold price with a fixed fee added for design and making-up. Note pure gold is soft and malleable - it distorts easily, so you may not want to wear it. Agree with the others, it's not going to make you money, but it may be worth doing as a little 'nest egg'. :)


Guvs project is pretty safe. Just Find yourself a nice lady and have her smuggle the package back in the front of her pants. Customs won't be suspicious because they'l assume it's her balls.

Numpty ='winning
#8
mumbojumbo
If guv's little project doesn't work out then you may want to consider jewellery or coins.
Forget the 9ct gold stuff from the UK high street - this is subject to disproportionately high mark-ups for the 'design' and the resale value is usually poor. Asian gold jewellery tends to be 99.9% pure (24ct). Buy from a reputable dealer and it will come hallmarked and with an invoice that shows the exact weight - the price of the piece will be calculated at the time of sale using the daily gold price with a fixed fee added for design and making-up. Note pure gold is soft and malleable - it distorts easily, so you may not want to wear it. Agree with the others, it's not going to make you money, but it may be worth doing as a little 'nest egg'. :)


wouldnt be buying any to wear etc would just be buying as an investment. Wouldnt be looking at getting 9ct etc the site I was looking at was selling gold at about 30quid a gram after fees. I do need to have more of a read up etc on it but just though it might be something different than putting it in a bank account with low interest rates atm etc.

With the pound being quite weak it might just be useful to have something outside of a currency in case anything collapses in the forseeable future ;)

Edited By: numptyj on Apr 18, 2011 13:50
#9
numptyj
mumbojumbo
If guv's little project doesn't work out then you may want to consider jewellery or coins.
Forget the 9ct gold stuff from the UK high street - this is subject to disproportionately high mark-ups for the 'design' and the resale value is usually poor. Asian gold jewellery tends to be 99.9% pure (24ct). Buy from a reputable dealer and it will come hallmarked and with an invoice that shows the exact weight - the price of the piece will be calculated at the time of sale using the daily gold price with a fixed fee added for design and making-up. Note pure gold is soft and malleable - it distorts easily, so you may not want to wear it. Agree with the others, it's not going to make you money, but it may be worth doing as a little 'nest egg'. :)

wouldnt be buying any to wear etc would just be buying as an investment. Wouldnt be looking at getting 9ct etc the site I was looking at was selling gold at about 30quid a gram after fees. I do need to have more of a read up etc on it but just though it might be something different than putting it in a bank account with low interest rates atm etc.

With the pound being quite weak it might just be useful to have something outside of a currency in case anything collapses in the forseeable future ;)


I bought this in 2002...can anybody give me a rough guess as to how much its worth?

http://commoditybuyers.co.uk/images/Gold_Bars_Stacked_in_a_Vault.jpg
banned#10
Property is the best place for your money, always has been and always will be.

Yes, there are those scaremongering now about a 'burst bubble' but just use a little common sense and you'll arrive at the conclusion that land is going to become more and more valuable over time.

Not everyone wants to live in a flat, so house prices will continue to rise in the grand scheme of things.
#11
mumbojumbo
numptyj
looking at getting 9ct etc the site I was looking at was selling gold at about 30quid a gram after fees.


^^This is how you will make ur money - selling 9ct gold @ £30 a gram to astute investors. :{


Sorry that was meant to say NOT getting 9ct lol. I'll link the site I was on about later on when I get home.

edit...you just misquoted me, I said I wouldnt be looking at getting 9ct. I assume the site that I was looking at sells pure gold if you can buy pure gold? lol as I've said though need to read up a bit more on it before doing anything thats why I just wanted to ask if anyone has experience in the market currently!

@JTT yeh property is obvs a good investment
1) I just don't have the capital to buy yet
2) Everything is just way expensive around the london area :( so it takes a lot of saving



Edited By: numptyj on Apr 18, 2011 14:22
banned 1 Like #12
numptyj
mumbojumbo
numptyj
looking at getting 9ct etc the site I was looking at was selling gold at about 30quid a gram after fees.


^^This is how you will make ur money - selling 9ct gold @ £30 a gram to astute investors. :{


Sorry that was meant to say NOT getting 9ct lol. I'll link the site I was on about later on when I get home.

@JTT yeh property is obvs a good investment
1) I just don't have the capital to buy yet
2) Everything is just way expensive around the london area :( so it takes a lot of saving


Nobody said you had to buy somewhere to live in. Have a look at some of the condominiums in Florida. Good rental income.

People will look back at this economic climate we've had for the past few years and wish they'd have bought at rock bottom.
#13
JonnyTwoToes
numptyj
mumbojumbo
numptyj
looking at getting 9ct etc the site I was looking at was selling gold at about 30quid a gram after fees.


^^This is how you will make ur money - selling 9ct gold @ £30 a gram to astute investors. :{


Sorry that was meant to say NOT getting 9ct lol. I'll link the site I was on about later on when I get home.

@JTT yeh property is obvs a good investment
1) I just don't have the capital to buy yet
2) Everything is just way expensive around the london area :( so it takes a lot of saving


Nobody said you had to buy somewhere to live in. Have a look at some of the condominiums in Florida. Good rental income.

People will look back at this economic climate we've had for the past few years and wish they'd have bought at rock bottom.



Very true.

I'm a little too young at present.

But we have a recession/economic downturn approx every 12 years or so, so 12 years on, I'll be buying buying buying.

It is true what you say about land, if you can get some land, sit on it for a long period, perhaps during that time try and get planning permission, you can make some serious dollar.

You own a few places don't you JTT?
banned#14
doritos
JonnyTwoToes
numptyj
mumbojumbo
numptyj
looking at getting 9ct etc the site I was looking at was selling gold at about 30quid a gram after fees.


^^This is how you will make ur money - selling 9ct gold @ £30 a gram to astute investors. :{


Sorry that was meant to say NOT getting 9ct lol. I'll link the site I was on about later on when I get home.

@JTT yeh property is obvs a good investment
1) I just don't have the capital to buy yet
2) Everything is just way expensive around the london area :( so it takes a lot of saving


Nobody said you had to buy somewhere to live in. Have a look at some of the condominiums in Florida. Good rental income.

People will look back at this economic climate we've had for the past few years and wish they'd have bought at rock bottom.



Very true.

I'm a little too young at present.

But we have a recession/economic downturn approx every 12 years or so, so 12 years on, I'll be buying buying buying.

It is true what you say about land, if you can get some land, sit on it for a long period, perhaps during that time try and get planning permission, you can make some serious dollar.

You own a few places don't you JTT?


I've got two. I wish I had the liquid money to buy more, but more pressing things at hand at the moment. :)

I'd be buying in Florida and Rep of Ireland (midway between Cork and Dublin) if I had the extra cash.
Both for holiday lets.
banned#15
mumbojumbo
JonnyTwoToes
Have a look at some of the condominiums in Florida. Good rental income.


Except "condominium" usually refers to an apartment owned by the resident. ;)


So you can't rent out condos?
#16
Sounds good BG!
#17
Yeah good plan byker.

4bed in london, its going to be a meaty deposit then ;).

Good luck.

I'm waiting on a phone call from the bank this week in regards to mortgage, so we will see..
banned#18
doritos
Yeah good plan byker.

4bed in london, its going to be a meaty deposit then ;).

Good luck.

I'm waiting on a phone call from the bank this week in regards to mortgage, so we will see..


Northern Rock are a good place for mortgages at the moment. (A couple of years ago, that would have been a joke!) X)
#19
JonnyTwoToes
doritos
Yeah good plan byker.

4bed in london, its going to be a meaty deposit then ;).

Good luck.

I'm waiting on a phone call from the bank this week in regards to mortgage, so we will see..


Northern Rock are a good place for mortgages at the moment. (A couple of years ago, that would have been a joke!) X)

Lol :D.

I haven't tried them actually, they sort of slip my mind when I think about banks.
If this all goes **** up with the bank I'm trying with we'll see!

They are just so much more fussy, (as can be expected..) they are wanting lots more info.
banned#20
doritos
JonnyTwoToes
doritos
Yeah good plan byker.

4bed in london, its going to be a meaty deposit then ;).

Good luck.

I'm waiting on a phone call from the bank this week in regards to mortgage, so we will see..


Northern Rock are a good place for mortgages at the moment. (A couple of years ago, that would have been a joke!) X)

Lol :D.

I haven't tried them actually, they sort of slip my mind when I think about banks.
If this all goes **** up with the bank I'm trying with we'll see!

They are just so much more fussy, (as can be expected..) they are wanting lots more info.


I read somewhere NR have reintroduced a 90% mortgage. Worth a try.

Yeah, HERE IT IS


Edited By: JonnyTwoToes on Apr 18, 2011 15:25
#21
JonnyTwoToes
doritos
JonnyTwoToes
doritos
Yeah good plan byker.

4bed in london, its going to be a meaty deposit then ;).

Good luck.

I'm waiting on a phone call from the bank this week in regards to mortgage, so we will see..


Northern Rock are a good place for mortgages at the moment. (A couple of years ago, that would have been a joke!) X)

Lol :D.

I haven't tried them actually, they sort of slip my mind when I think about banks.
If this all goes **** up with the bank I'm trying with we'll see!

They are just so much more fussy, (as can be expected..) they are wanting lots more info.


I read somewhere NR have reintroduced a 90% mortgage. Worth a try.

Yeah, HERE IT IS



Yeah I did read that, back in march.

Hopefully things are on the up.

Being Self Employed, a lot don't want to know.
banned#22
Have to say the HSBC have always been very good to me - self employed also.

Managed to get a lifetime tracker at 0.3% above base (0.8% at the moment) so pretty happy.
#23
bykergrove
Cheers guys, doritos.. Have you thought about a one account? They are excellent in case you have a lump sum you don't want to actually tie up in the house or if you get bonuses, self employed etc, you don't actually earn interest either since it just reduces the mortgage interest. So it's tax efficient too.

Good luck to you guys too. :)


Hi byker,

had a quick google, but a little busy at present.

Is that basically an offset?

Ideally.. an offset is the way i'd like to go, keep building it up, £x00,000 in the account, and can be transferred as and when necessary (ideally not to mess with).

And ultimately you have little or no mortgage, but the way its set up, money could be transferred tomorrow and your mortgage will be £x00,000 again.

I'm sure that's the way it works?
Correct me if im not.
#24
JonnyTwoToes
Have to say the HSBC have always been very good to me - self employed also.

Managed to get a lifetime tracker at 0.3% above base (0.8% at the moment) so pretty happy.



HSBC is one of the few banks I don't have an account with.
I haven't actually tried them.

Good news on the rate.
If only I had been say 3-4 years older, I could've got a self cert mortgage no problem.
#25
bykergrove
Yes it's an offset. And yeah that's the way it works. Your mortgage is like a massive overdraft. A set abount gets taken out each month to pay the mortgage and the rest in your account reduces the "overdraft" you can take that money out as you wish.

With you being self employed means your pre-tax salary can sit in the account until you have to pay your taxes in a lump.


Yeah Ideally that is what I'd like to have.
As you say the money coming in, can just knock a chunk off!

We will see what I can actually get, as they still are conscious of their fingers getting burnt from my own research and experience.

December they didn't want to know, but in Jan/Feb they announced in December lending was at a record low.. that explains it.
#26
OP: Of course you'll check out any advice received here with a second (professional) opinion? There are already one or two advisors present here with a history of giving incorrect advice.
banned#27
trouble with buying gold is the markup on it.

you said a site is selling 9ct for £30 a gramme!

The best you will sell 9ct for is about £8 per gramme
banned#28
Why buy actual gold as a comadity....when the price fails you will be selling into a falling market and will have to take what a dealer will offer you, you'll also need to pay vat on your purchase which is just dumb.

The best way to get exposure to the gold market is by taking out a futures contract (or spread bet which is tax free on your winnings) you can buy and sell instantly at near to spot price and only pay a small amount on the bid offer spread.


Edited By: slamdunkin on Apr 19, 2011 09:28
banned#29
PS why do the masses alweays want to chase a rally.....look for the next big thing which is REE's rare earth elements.

China stock pilling REE's

http://www.resourceintelligence.net/china-builds-up-strategic-reserves-of-rare-earth-metals/15412?utm_source=feedburner&utm_medi


Click the links and scroll to the applications tab to see the potential commercial uses of the elements SRX have discovered....

Heavy Rare Earths uses
Lutetium
http://en.wikipedia.org/wiki/Lutetium#Applications

Ytterbium
http://en.wikipedia.org/wiki/Ytterbium

Erbium
http://en.wikipedia.org/wiki/Erbium

Holmium
http://en.wikipedia.org/wiki/Holmium#Applications

Dysprosium
http://en.wikipedia.org/wiki/Dysprosium#Applications

Terbium
http://en.wikipedia.org/wiki/Terbium#Applications

Gadolinium
http://en.wikipedia.org/wiki/Gadolinium#Applications

Europium
http://en.wikipedia.org/wiki/Europium#Applications

Light Rare Earths

Lanthanum
is very saught after and has an ever growing demand for use in hybrid car batteries.
http://en.wikipedia.org/wiki/Lanthanum#Applications

Samarium
http://en.wikipedia.org/wiki/Samarium#Applications

Neodymium
http://en.wikipedia.org/wiki/Neodymium

Praseodymium
http://en.wikipedia.org/wiki/Praseodymium#Applications

Cerium
http://en.wikipedia.org/wiki/Cerium#Applications

Other

Yttrium
http://en.wikipedia.org/wiki/Yttrium#Applications


Edited By: slamdunkin on Apr 19, 2011 09:35
#30
Wow lot of links there, I'll have a read of some of that stuff later SD.

Also people are reading my posts wrong I mention nothing about buying 9carat gold some one mentioned coins and 9carat jewelry.
banned#31
numptyj
Wow lot of links there, I'll have a read of some of that stuff later SD.

Also people are reading my posts wrong I mention nothing about buying 9carat gold some one mentioned coins and 9carat jewelry.

the point is that the price you buy gold at is significantly higher than what you'll get for it. You'll need gold to practically double to even get close to breaking even

slamdunkin is spot on!
#32
I buy a 1oz lady fortuna pamp suisse gold ingot from dubai duty free each time i'm going through, I've already noticed I've made a significant return, the price has gone up $500 an oz since Jan 2009.

They've got a competition going on to win a 12.5kg ingot from a $200 dollar a ticket raffle, only 5000 tickets to be sold, I entered lol.
banned#33
mumbojumbo
slamdunkin
Why buy actual gold as a comadity....when the price fails you will be selling into a falling market and will have to take what a dealer will offer you, you'll also need to pay vat on your purchase which is just dumb.

???!
http://www.hmrc.gov.uk/manuals/vgoldmanual/VGOLD1400.htm


slamdunkin
The best way to get exposure to the gold market is by taking out a futures contract (or spread bet which is tax free on your winnings) you can buy and sell instantly at near to spot price and only pay a small amount on the bid offer spread.

Why on earth would you advise spreadbetting to a beginner? Get it wrong and you could end up losing more than you started with. oO


Did you read your HMRC link it is specific to producers and sellers of investment gold not private buyers of investment gold.


I don't think Gold is such a great investment anyway at the current level....but if someone believes that the price will rise then futures and spread betting are the most cost affective ways of trading it.

When you place a financial spread bet you need to cover the margin so you set your gearing accordingly.

If you don't believe the price will rise then don't buy gold and don't spread bet the price....whats the point of looking to invest in something that you don't have faith in be it through spread betting or putting a l8ump in the draw or safety deposit box.
#34
this was the site I was looking at btw

http://www.goldmoney.com/buy-gold.html
#35
It was mentioned earlier in the thread but I can't see it picked up on.

SILVER!

Over a two year period I believe Gold has gone up about 25% and Silver about 85%. And I think Silver has gone up about 10% so far in 2011. I read all this somewhere but can't remember where.

I have about £5k to invest after using ISA allowance - I've been stung by property and it really stresses me out dealing with it, so I want out of that. Again, with precious metals investments, the more I research the less I want to be a part of it.

I know £5k is a relative small amount but it's a lot for me to lose - I'm thinking just low risk, easy access investments is the future for me. Cash is king, it gives the flexibility as life changes but it'll never make you a high roller.

Or maybe I'll move to New York and live the american dream - that has been my only constant dream for a long long while now.
1 Like #36
investing in gold - what you buying some sovs and creole earrings

[snip by DBA]

Edited By: janz70 on May 12, 2011 17:57

Post a Comment

You don't need an account to leave a comment. Just enter your email address. We'll keep it private.

...OR log in with your social account

...OR comment using your social account

Thanks for your comment! Keep it up!
We just need to have a quick look and it will be live soon.
The community is happy to hear your opinion! Keep contributing!