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Gold prices and what to buy


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Some of you may he aware that the price of Gold is at an all time time high. A friend of mine said a couple of months back that I bought to put a good chunk of my SIPP into gold stocks. She's a very astute business analyst and I've come to respect her advice on these matters. So much so that I have also thought about putting what 'cash' I have into gold and silver coins. 

American Eagles seem to dominate this market with Krugerrand's close behind. I'd have thought Soveriegns would have up there but apparently not. 

The reason my putting my cash into coins is because I have been listening to a number of podcasts which have had various guests who are top end investors, and they are all saying the same thing. Put your money into gold and buy gold and silver coins because the global currencies are being debased through all the quantative easing and 'financial packages' that are being done from the central banks.  It really is quite unsettling when you look into it.

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Yes Gold is having a roll but no-one knows which market/commodity/coin/share/diamond is going to go up/down BUT its no good finding the next hidden gem if no-one else knows about it so watch for a trend, jump on board and fill ya boots. Remember if a penny share increases even a tiny bit ( and I mean tiny ) the actual % increase is bigger  than most other gambles/investments. If you fancy your chances with the big boys have a go at the currency markets and most of know what you want to achieve and I mean that with all honesty Doc; good luck

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You’re probably better off with the gold coins 

you may want to research the vat on the silver before you buy 

also remember that different countries have different rules for the amount you can purchase and hold 

apologies if you already know this 

all the best 

Of 

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I have bought gold coins for many years, if you buy gold sovereigns and Britannia’s there is no capital gains tax as they are U.K. legal tender. Most investors expect to see the good price to continue to rise and reach the £2,000/once mark.

 gold bullion dealers in the U.K. are based in Birmingham, go on their websites and nearly all have price tracking charts going back years, you will see the price fluctuations and peaks always come when there is economic uncertainty and COVID-19, China threatening India and Australia etc. is causing the spike.

i have bought from Atkinson’s the Jewellers in Sutton  Coalfield and can recommend Paul, his prices are always a % or two below other dealers.

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8 hours ago, Stuarta said:

I have bought gold coins for many years, if you buy gold sovereigns and Britannia’s there is no capital gains tax as they are U.K. legal tender. Most investors expect to see the good price to continue to rise and reach the £2,000/once mark.

 gold bullion dealers in the U.K. are based in Birmingham, go on their websites and nearly all have price tracking charts going back years, you will see the price fluctuations and peaks always come when there is economic uncertainty and COVID-19, China threatening India and Australia etc. is causing the spike.

i have bought from Atkinson’s the Jewellers in Sutton  Coalfield and can recommend Paul, his prices are always a % or two below other dealers.

^this

But gold just hit an all time high. I use chards who often offer the best premium.

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If you were holding vast sums of gold you'd be bleating how good an investment it is and get some bought it's at it highest in years. Then you'd start dumping your gold just as it's peaking.  Leaving the poor normal working folk mugs high and dry.

I'd be wary of buying at the moment, it seems a bit like the bit coin bubble.

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I'm a very big precious metals fan but while I still hold a core position, last week I sold most of my mining ETFs and bought protective puts on what I've kept that I plan to sell when the metals (gold and silver) bounce off medium term support. My GLD position that I'd written covered calls on was called away on Friday, and I'm not planning on buying more just yet. Basically I've had a fantastic run for a few months but short- term I can only see more downside than up right now. 

A 20+% correction is on the cards. Gold, for the last few years anyway, has run up through spring and peaked in the last week of August before falling back in the autumn by more or less that amount. Ok, this year we have Covid but the pattern on the charts looks the same, if a little exaggerated. It seems this year the peak might have come a couple of weeks early. But we're either at or very close to what is a fairly predictable seasonal high.

Also the US$ looks like it might have hit a bottom and be turning up....a bearish signal for gold.

 

On the bright side, the metals are, imho for what it's worth, two years into what will be a massive multi-year bull run and there'll be a lot of money to be made. But right now they're very overbought and a decent correction is not only probable but, to keep the bull running, desirable too. 

Whatever. But in short, I'd bet money that there'll be a better time to buy later this year or early next year after the correction and before the next leg up.

Keep your powder dry, better.

Edited by Retsdon
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In the seven years I have been investing in gold coins I have seen and benefited from the increase from ££760.00 to the current level, so nearly a doubling. No one knows what will happen but I think it will continue to rise for the rest of the year. Yes in hind sight you needed to invest when the cost was low, not when it is high to make the best return but to say that is only stating what we all know.

What is the future, well if I had money sat in the bank and receiving the low interest currently on offer I would take some of it and buy gold coins even at the current high. The market for gold is not being driven by private investors like you and me but by governments and investment banks, they must think it is a good time to buy gold. The U.K. pound is dropping in value as a world currency and thanks to the sell off of the U.K. s gold reserve by Gordon Brown it has no underlying foundation. So long term gold is a more secure investment.

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I view Gold as a hedge or a long term store of cash, not as an investment per se.

Unless you REALLY know what you are doing i would avoid FX trading (having run an FX firm for 5 years Ive seen more disaster stories than you can imagine) and avoid they spread-betters, they are they only to make money for themselves, try and close out a big position without greying out or slippage, they make money at every turn.

Biosciences are a good punt, resi property still looks relatively strong (by which i mean not volatile), equities are holding up better than expected.

As a long term buy, Crude still looks under priced to me.

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10 hours ago, Retsdon said:

I'm a very big precious metals fan but while I still hold a core position, last week I sold most of my mining ETFs and bought protective puts on what I've kept that I plan to sell when the metals (gold and silver) bounce off medium term support. My GLD position that I'd written covered calls on was called away on Friday, and I'm not planning on buying more just yet. Basically I've had a fantastic run for a few months but short- term I can only see more downside than up right now. 
 

<snip>

I understood all the words in that paragraph just not in that order. It’s probably for the best that I don’t dabble in trading.

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