Investing gold

Hi all,

Would like some advice please. Have about £3k and would like to invest in gold.

What is the best way to go about this without paying extortionate fees etc and can you recommend a reputable place to buy.

As you can probably tell, I am a novice at this so any and all information will be gratefully received.

Thanks all.

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29th Mar
b i t co i n
30th Mar
You say you are a novice. In my experience, when novices start asking about an investment, we are usually at or near the top of the market and the easy money has already been made.
29th Mar
I think that ship has sailed after the recent 20% increase , especially when you take into account dealing charges

I'll revisit this in 5 years :/
29th Mar
Funnily enough I bought some gold sovereign coins when they were £140, they now sell online for about £450!
22 h, 34 m ago
Top tip for all you amateur investors out there, when an asset breaks out of a price range that it's been stuck in for years, as well as breaking an all time high, and then confirms that breakout on a weekly / monthly timeframe, it's an easy buy with the least risk. This is because it's an early indication of the start of a new trend (up).
Perfect entry would be a price retest of the top of the previous range, which is ~$2075, this normally happens but isn't guaranteed, but that price is the line in the sand for invalidation for the new bull cycle.
Not financial advice
18 h, 4 m ago
Yes, on the one hand, a breakout above a previous all time high is often a sign of a potential bull move - there could easily be a 50% further increase over the next couple of yrs, after there has been a price correction.

On the other hand, once newbies start asking for investing advice on a UK shopping deals website, about an asset class which has just had a recent price increase and primarily due to the media having started publicising, it can be a sign that price is about to go down, at least for a while, to scare them to sell out. See for example all the discussion that suddenly appeared on this site at the exact peak of the Gamestop/AMC/meme stock bubble, and all of which vanished just as quickly. I'm sure it will have been the same at previous c ry pto highs.

In summary, much of the financial advice on here is probably worth as much as you pay for it - i.e nothing!
29th Mar
damn I resisted for so long
29th Mar
Personally, I would buy Lego! Better return if you know which sets.
29th Mar
buy a gold coin, probably costs around that!
29th Mar
Good luck.

You are better off staying on this site & investing your £3k on mispriced deals & flipping them. Pretty sure it would be easy to treble or quadruple your money in a year. Obviously you would have to declare your earnings.
29th Mar

or what you said
29th Mar
extortionate fees are one thing; VAT is another. I sometimes wonder why people buy anything with the full knowledge of 20% of what they spend going to the taxman.
29th Mar
royalmint.com/faq…rs/

States no VAT if individual buys gold coin from royal mint (edited)
29th Mar
£3k will get you 2 Brittanias. But gold price has hardly changed in 3 years. It’s lagging behind inflation.
29th Mar
1 and a half !
Author
29th Mar
Thanks for all the replies. Seems like gold investment is not the way forward anymore.
22 h, 15 m ago
i've worked with a few gold bugs in my time. they tended to buy physical gold in central london. maybe there's a gold etf out there i don't know.
29th Mar
I would agree with the other posts about it not being a great time to buy. If you still want to do it anyway then 1 ounce coins are generally a good option as they are very easy to buy and sell. I’ve had no problems buying them online from either gold.co.uk and Bullion by Post.

But if you are a bit nervous about having gold sent by post and happen to live near London I would also recommend buying in person from ATS Bullion next to the Savoy Hotel as it’s only very slightly more expensive
29th Mar
The do free post too...
Buy British coins though or you'll cop for capital gains tax.
29th Mar
If you want to buy gold, rather than buying physical gold and incurring all the resultant costs/risks (buy/sell margins & insurance/security/storage) it may be best to invest in stocks that follow gold bullion prices. Eg SGLN (ISHARES PHYSICAL METALS PLC PHYSICAL GOLD). Yes there are investment platform costs (vary - but they can be minimal).

I would not recommend investing in stocks that own gold mines as they can be very volatile (as they are dependent on hitting a good steady stream of gold).

Personal opinion is that gold may peak very soon. It has risen due to various geopolitical tensions and the expectation of interest rate drops in next 12-24 months. Not sure now is a wise time to invest. A global stocks tracker MAY be wiser. As always, DYOR.........
30th Mar
Buy it via a pension and it's a instant 20% (or more) free contribution from the tax man.
29th Mar
Think the gold investment has well passed. I got a 2oz gold chain 22 years ago for £300, seen one recently in a shop window the same style curb 9ct for £2600
I never thought gold would get so expensive, been thinking should I sell my chain and bracelet but don't need the money so I'll keep hold until a rainy day.
There's probably plenty other ways to make money, just not gold or bitcoin
Author
29th Mar
Thank you all. Will think of something else for long term investment.
30th Mar
Take a read of this
ukpersonal.finance/inv…01/
30th Mar
Best off putting it in stock and shares for a few years
Author
30th Mar
Let me get your views on this then... Do you think it is worth buying a couple of coins for my kids so when my time is up here, they would come on handy for them?
30th Mar
Handy for what? If gold is the only acceptable medium of stored value for them when the need arises, then they are facing far bigger problems. Yes, nothing wrong with a coin or two as a novelty but if you want to leave something substantial, then there are better options. Obviously, no one can predict what will happen in the future.
Author
18 h, 45 m ago
Thank you all.