Buying gold

[jonthefox]

I've been thinking of doing this for a while . Just thought i'd find out if anyone on here does it and obviously get some advice. Cheers. 

[blabyboy]

You can use gold as a hedge (counterbalance) in case you have any shares that take a bath on the stock market.

 

Consider any purchase as part of a diverse basket of items that you buy to help mitigate loses you might make elsewhere. Gold is generally seen as safe when other parts of the stock market are tanking, but  remember that the opposite applies here as well.

 

If you only buy gold, then you are in the same position as if you only bought shares or only saved cash in an account i.e. at some point the price will dip and at another it will rise. It is not a guaranteed safe bet on its own.

 

If you do want to buy gold, try an ETF (exchange traded fund) as an easier path into that particular item and market as it spreads the risk within the fund as to which bullion dealer(s) provide the actual gold behind the fund.

 

If you're thinking of buying real gold sovereigns or ingots, you have the additional cost of security and storage amongst other downsides. The old adage of "buy gold first, buy shotgun and shells next" applies here.

 

If you're interested in metals, you may also want to explore metals such as palladium, copper, lithium and silver amongst others.

 

This is not financial advice. Please do conduct your own research before making any investment decisions.

 

[Zear0]

4 minutes ago, blabyboy said:

You can use gold as a hedge (counterbalance) in case you have any shares that take a bath on the stock market.

 

Consider any purchase as part of a diverse basket of items that you buy to help mitigate loses you might make elsewhere. Gold is generally seen as safe when other parts of the stock market are tanking, but  remember that the opposite applies here as well.

 

If you only buy gold, then you are in the same position as if you only bought shares or only saved cash in an account i.e. at some point the price will dip and at another it will rise. It is not a guaranteed safe bet on its own.

 

If you do want to buy gold, try an ETF (exchange traded fund) as an easier path into that particular item and market as it spreads the risk within the fund as to which bullion dealer(s) provide the actual gold behind the fund.

 

If you're thinking of buying real gold sovereigns or ingots, you have the additional cost of security and storage amongst other downsides. The old adage of "buy gold first, buy shotgun and shells next" applies here.

 

If you're interested in metals, you may also want to explore metals such as palladium, copper, lithium and silver amongst others.

 

This is not financial advice. Please do conduct your own research before making any investment decisions.

 

Sounds like financial advice. See you in court

[The Doctor]

Put all your money in gold and bury it in the woods where the taxman can't get to it.

 

This is not good financial advice, please conduct your own research into local burying opportunities.

[Bellend Sebastian]

1 hour ago, blabyboy said:

You can use gold as a hedge (counterbalance) in case you have any shares that take a bath on the stock market.

 

Consider any purchase as part of a diverse basket of items that you buy to help mitigate loses you might make elsewhere. Gold is generally seen as safe when other parts of the stock market are tanking, but  remember that the opposite applies here as well.

 

If you only buy gold, then you are in the same position as if you only bought shares or only saved cash in an account i.e. at some point the price will dip and at another it will rise. It is not a guaranteed safe bet on its own.

 

If you do want to buy gold, try an ETF (exchange traded fund) as an easier path into that particular item and market as it spreads the risk within the fund as to which bullion dealer(s) provide the actual gold behind the fund.

 

If you're thinking of buying real gold sovereigns or ingots, you have the additional cost of security and storage amongst other downsides. The old adage of "buy gold first, buy shotgun and shells next" applies here.

 

If you're interested in metals, you may also want to explore metals such as palladium, copper, lithium and silver amongst others.

 

This is not financial advice. Please do conduct your own research before making any investment decisions.

 

You forgot to add 'and is provided strictly on a bloke down the pub basis', like I always do

[PAULCFC]

Best thing my old man did for us!Bought a load of Soverigns/Comerative coins ages ago when the prices were low.....was in it for the long haul and sadly passed away.I think the prices are quite high at the moment........but it enabled us to pay our mortgage off and move to the coast.......The main thing i learned is it's not taxable on CGT as it's legal tender. As for having it all in a Bank,my old man hid them all under a bedside table,which we wouldn't have found unless we properly cleared the house when he passed away!Parents EH!

Edited 17 August 2025 by PAULCFC

[Dr Marco]

 

[Trav Le Bleu]

You might want to consider To Cut A Long Story Short or Chant no.1, some of their earlier stuff.

 

 

[Dr Marco]

1 hour ago, Trav Le Bleu said:

You might want to consider To Cut A Long Story Short or Chant no.1, some of their earlier stuff.

 

 

 

[Free Falling Foxes]

This thread reminded me of when there were loads of 'Cash for Gold' ads on the TV.

Jokers were sending in rocks and stones from their garden painted gold. 

I remember one guy had done it so many times, the company wrote to him pleading to him to stop.

Edited 17 August 2025 by Free Falling Foxes

[blabyboy]

7 hours ago, PAULCFC said:

Best thing my old man did for us!Bought a load of Soverigns/Comerative coins ages ago when the prices were low.....was in it for the long haul and sadly passed away.I think the prices are quite high at the moment........but it enabled us to pay our mortgage off and move to the coast.......The main thing i learned is it's not taxable on CGT as it's legal tender. As for having it all in a Bank,my old man hid them all under a bedside table,which we wouldn't have found unless we properly cleared the house when he passed away!Parents EH!

My brother in law bought a shitload of gold and hid it under his bath. We looked after his house when they went on holiday and I took a golden shower knowing what what was underneath.

 

We never could relax in that break..

[blabyboy]

2 hours ago, Free Falling Foxes said:

This thread reminded me of when there were loads of 'Cash for Gold' ads on the TV.

Jokers were sending in rocks and stones from their garden painted gold. 

I remember one guy had done it so many times, the company wrote to him pleading to him to stop.

On a semi serious note, you can tell times are bad because I'm getting flyers for when X dealers are holding an open gold fayre at the local community centre where you can have your gold possessions valued etc...

 

I view these people as c**ts looking to rip people off.

[PAULCFC]

3 hours ago, blabyboy said:

My brother in law bought a shitload of gold and hid it under his bath. We looked after his house when they went on holiday and I took a golden shower knowing what what was underneath.

 

We never could relax in that break..

Know the feeling!We were just clearing my mum and dads house out and i knew he collected coins that were all in commerative boxes.....nothing really great,mostly silver.....but i decided to empty the sock draw and their were a few Soverigns,krugrands and loads of commerative coins in gold.....didn't know the value at the time!

[ozleicester]

Earth destroying meaningless metal


https://www.superpit.com.au/photos/aerial-images/

[Raj]

 

[blabyboy]

Hope the OP bought in,

https://www.bbc.co.uk/news/articles/ceqyq7r8703o

[Tommy G]

Whatever you do, just don't ask Gordon Brown.

[Raj]

1 minute ago, Tommy G said:

Whatever you do, just don't ask Gordon Brown.