equinox Posted April 4, 2009 Share Posted April 4, 2009 This is something I've been thinking about. With the world going down the tubes, I'm not so comfortable with my savings being in a post office account. If the country (ireland in my case) goes bust then I'll have nothing. So, I got the idea of changing my savings into gold. I know the price of gold can fluctuate but it's always been a valuable material. Is this a good idea of is it silly and un-necessary? Link to comment
Sn0man Posted April 4, 2009 Share Posted April 4, 2009 Yarrr where do ye intend to bury it yarrr Seriously, not a great idea. Link to comment
itsallgrand Posted April 4, 2009 Share Posted April 4, 2009 I think gold is the past. Unless you are mining it. Just my personal opinion. Could be fun though to see people venture their opinions on where to invest! lol. Link to comment
equinox Posted April 4, 2009 Author Share Posted April 4, 2009 Well I know it can be bought. There are businesses that sell gold bars and I've been checking them out. I wouldn't put all my money into gold but I was thinking about 1/4 of it safe in gold might be prudent. If you think about it, currency goes up and down but gold has always been valuable. Link to comment
Sn0man Posted April 4, 2009 Share Posted April 4, 2009 Well I know it can be bought. There are businesses that sell gold bars and I've been checking them out. I wouldn't put all my money into gold but I was thinking about 1/4 of it safe in gold might be prudent. If you think about it, currency goes up and down but gold has always been valuable. You're better off putting it into a 'safe' bank. Anything in the commodities market fluctuates regularly, and though gold will always have value, you never know how much it could go down with the rest of the market. Money holds its value better - sure, its value goes down with inflation, but it doesn't suffer the wild swings the rest of the market does. Link to comment
jacques Posted April 4, 2009 Share Posted April 4, 2009 It's a terrific Idea: COIN AND PRECIOUS METALS DEALERS WHO HAVE SUPPORTED GATA AND BEEN RECOMMENDED BY OUR MEMBERS Blanchard & Co. Inc. 909 Poydras St., Suite 1900 New Orleans, Louisiana 70112 888-413-4653 link removed Centennial Precious Metals 3033 East 1st Ave., Suite 403 Denver, Colorado 80206 link removed Michael Kosares, Proprietor US (800) 869-5115 Canada 1-800-294-9462 European Union 00-800-2760-2760 Australia 0011-800-2760-2760 email removed Colorado Gold 222 South 5th St. Montrose, Colorado 81401 link removed Don Stott, Proprietor 1-888-786-8822 email removed El Dorado Discount Gold Box 11296 Glendale, Arizona 85316 link removed Harvey Gordin, President Office: 623-434-3322 Mobile: 602-228-8203 email removed Investment Rarities Inc. 7850 Metro Parkway Minneapolis, Minnesota 55425 link removed Greg Westgaard, Sales Manager 1-800-328-1860, Ext. 8889 email removed Kitco 178 West Service Road Champlain, N.Y. 12919 Toll Free:1-877-775-4826 Fax: 518-298-3457 and 620 Cathcart, Suite 900 Montreal, Quebec H3B 1M1 Canada Toll-free:1-800-363-7053 Fax: 514-875-6484 link removed Lee Certified Coins P.O. Box 1045 454 Daniel Webster Highway Merrimack, New Hampshire 03054 link removed Ed Lee, Proprietor 1-800-835-6000 email removed Miles Franklin Ltd. 3015 Ottawa Ave. South St. Louis Park, Minn. 55416 1-800-822-8080 / 952-929-1129 fax: 952-925-0143 link removed Contacts: David Schectman, Andy Schectman, and Bob Sichel Missouri Coin Co. 11742 Manchester Road St. Louis, MO 63131-4614 email removed 314-965-9797 1-800-280-9797 link removed Resource Consultants Inc. 6139 South Rural Road Suite 103 Tempe, Arizona 85283-2929 Pat Gorman, Proprietor 1-800-494-4149, 480-820-5877 email removed Swiss America Trading Corp. 15018 North Tatum Blvd. Phoenix, Arizona 85032 link removed Dr. Fred I. Goldstein, Senior Broker 1-800-BUY-COIN email removed Link to comment
Anthropic Posted April 4, 2009 Share Posted April 4, 2009 I think some exposure to gold is a good idea. I don't know about 1/4 into gold, seems like a lot to me. I'm at around 5% exposure to gold, mostly as a diversification tool because it typically has low correlation to equity markets. I have been thinking lately that the US dollar is going to fall off a cliff and if that happens gold could take off. I wouldn't buy the actual stuff though, I'd play gold through gold mining stocks or gold index funds. Link to comment
mgirl Posted April 4, 2009 Share Posted April 4, 2009 I think some exposure to gold is a good idea. I don't know about 1/4 into gold, seems like a lot to me. I'm at around 5% exposure to gold, mostly as a diversification tool because it typically has low correlation to equity markets. I have been thinking lately that the US dollar is going to fall off a cliff and if that happens gold could take off. I wouldn't buy the actual stuff though, I'd play gold through gold mining stocks or gold index funds. Yeah, they say gold is a hedge against a weakening economy and a poor US dollar. I am going to go long gold as soon as the prices correct. Link to comment
equinox Posted April 4, 2009 Author Share Posted April 4, 2009 Defo perked interest on my part. Thanks for that posting jacques. But I know you can change some of your money into gold shares but I was thinking of actually buying a few bars and keep them in our safe in the home. I don't use banks and I know this sounds paranoid but I like the idea of having something of real value. I think a trip to a financial adviser is in order for me Thanks for the help guys. Link to comment
karvala Posted April 5, 2009 Share Posted April 5, 2009 I don't think it's necessary, and the problem with buying gold at the moment is that the price has risen dramatically in the last four years and is consequently at its highest by far for decades. If you buy now, then short of an ongoing global gold shortage or long-term excessive demand, neither of which look very likely, then in ten years time your assets are going to be worth a lot less than they are now. In that sense, I think investing in gold at this time is actually even more risky than keeping it in a bank where it has many forms of protection. Link to comment
bmwm3 Posted April 5, 2009 Share Posted April 5, 2009 gold has been a good investment over the last 6 yrs... its gone from 300 to 900 an ounce... its tricky for gold over the next 6 months... it dep what inflation brings us... because of all the money we have been printing to fuel the economy.. there are good sign that we might get big inflation over the next 12-36 months.. if so gold can go to 1200-1500.. if theres no inflation then gold will go back to 600 and be in a range of 600-900 an ounce... Link to comment
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