Is it the safest place for our savings?

 

until this fiasco reaches the bottom and the institutions get out of gold to pick up bargain shares resulting in a plumeting of gold prices

 

I'd say no.

I'm spending a large chunk of each day trying to look for the best place for our savings. So far I've come up with nowt so holding tight and hoping for the best in the banks it's saved in!

 

Gold is the foundation of any well diversified portfolio. I am certainly considering it now. There are a number of companies that can help you trade in virtual gold. Bullionvault has a good reputation if you are interested. Between 10 - 20% of the value of your total portfolio is the rough guide for holding gold.

 

More info on prices and how it works.


Gold Prices : Current Gold Price & Charts

 

I took your advice and went and invested in some myself, i bought 6 boxes.




How long should i keep hold of them for before selling ?

 

You made a mistake, your are to buy your own, not Terry's.

 

Lots of websites around regarding gold investing. Be careful though as there are people on them that believe that we wil soon all need gold to even buy bread!

saying that though you must realise that what we call money is just bits of paper, all backed up by trust/faith in a system. That system is, for the first time in my lifetime, falling to pieces. Therefore one should have some money invested in something of value/use ie gold, oil etc

 

Gold is looking very toppy now. It has risen a lot and even thought this is likely to be a long recession it is hard to see it rising much higher.

There are a lot of real bargains out there in terms of property and businesses and money is going to start moving soon.

 

MR T pehaps....( i pity the fool, quit you`re gibba gabba, etc)

 

Err the second part of your statement contradicts the first. Either it will be a lond recession or there are bargains to be had now and money will start moving soon. It can't be both.

Investing inn gold is not so much about making money but preserving wealth at a time when fiat currencies are out of favour

 

buying gold is all ok if you have large sums in the bank.... if you do not then it means you are stuffed....

I am off to buy a shot gun

 

I'm buying up tins of smart price baked beans, when civilisation breaks down I'll clean up

 

In troublesome times like these under the mattress is the best place!

 

Nearly posted on this yesterday but thinking about it got me depressed as well, I haven't done it.

Savings rates on e-savings etc is crap. Whilst there are a couple of good rates out there, there's always restrictions.

Equities are going through a very dodgy phase. Financial sector and natural resources/mining are not doing well.

Gold prices have been climbing for at least the past 2 years. Whilst I won't say they've topped out, the historical trend is that they'll revert back to their normal levels eventually.

Government bonds and gilts may be an interesting area. Governments need to raise money and there's far more interest in these types of investments at the moment.

What I've learned is that timing is everything. And my timing sucks - LOL


2 rules, I s'pose....

Save for when you anticipate needing the dosh. Plan to have access to some of your dosh immediately, then in 3-5 years, then 10 years plus.

Invest in or track bonds as well as shares funds.

Try here... - Fund Prices|UK Funds|Unit Trusts|OEICS|ISAs|ETFs|Offshore Funds|Life and Pension

J.

 

Thanks for the replies, fellas. The challenge is that it's not just my money but my family's. Since my father and then my grandfather passed away I've pretty much been responsible regarding major financial calls. I'm just a bit nervous about making the wrong decision. At the minute we have nothing in gold, for which I'm kicking myself, but equally I don't want to jump in with say 10% of our assets whilst the price is at $900 an ounce. I'm also very concious that we're in unprecedented times and that there's a chance of a significant change to the global monetary system. I'll e-mail Mystic Meg, I think.

 

Gilts may be in a bubble as well, plus they are denominated in sterling, and the rates may have to go up which will reduce the values.

Gold may be peaky so I wouldn't put everything in it. I've lost out by selling gold and holding cash over the last few months. I think gold will strengthen against GBP, USD and Euro, but I'm not so convinced that I've got lots of it, so I'll probably continue to get hammered on my GBP.

 

If you do decide to put 10% of your cash in don't do it in one go. The price of gold like all tradeable assets fluctuates up and down. so if you drip feed it in over a few months then you will take advantage of some of the dips.

Happy investing and good luck

 

Diversify. As others have said gold constitutes a good foundation for any investment portfolio.

I try to keep 25% in 'real' assets and always have done.

 

Still creeping up, $920 per ounce now. Think we'll start to dip in.

 

5 years ago it was below $400, its so high at the moment as its seen as a safe bet but when this malarky ends and lots hits the market it will fall fast as people look to invest elsewhere. If its not just your money I'd look at something you're not buying near its peak as its most likely direction is downwards. I'd just spread it round savings accounts as you know you won't loose money. Yes its value in real terms may be reduced but you'll still have your initial holding.

 

It depends what you value as an absolute. If you buy gold, you'll have that weight in gold. Whilst there are recent long periods where you'd have lost out in purchasing power, in the long sweep of history, gold has been the most consistent and successful currency. You can't be robbed by inflation with gold. People can't print more gold.

I could easily see gold rising further, followed by stocks and then property.

 

I would wait until the next dip which will come with profit taking. If gold really takes off it will be when Obama and Brown start printing money

Edited to say, why don't you also consider oil in an ETF? I'm thinking about it as a medium term hold. Knowing my luck though someone will invent a pocket sized generator that runs on water and can power a country

 

$1360 at the moment - anyone seen Matteeboy?

 

It's a bubble, but how much further will the bull run?

I's say we are in the 'public' phase.

 

He was last seen taking off on his surfboard with a lead weight tied round his ankle .!!!!!!!!!!

 

I'd go with that and add that it's early phase. I'd also add that the timeframe could be fairly broad. As soon as Mystic Meg tips me off I'll share it with the board.

 

You'd say that because you have no idea what you are talking about. What percentage of your portfolio is in gold then?

 

Who is this guy? He seems to have been well ahead of his time, almost spookily predicting the fall in value of the US dollar and £

 

I'm all cash right nows as a plan to buy a house probably in the next 12-24 months.

I'd say you were in the 'delusion' subphase.