Hi everyoe, say someone waned to buy some gold as an investment, to store in their house/company office or whatever. What would be the best way of doing this? I was talking about to a friend - he suggested going to a normal jewelers, which stirkes me as a very bad way to get a good price.
Any suggestions?
Thanks for your help!
I've been casually looking into this.
I'm with you that buying gold jewelry is probably not the best way to achieve this - you end up paying for the design and craftsmanship, which is not what either of us want to be investing in.
Also, even if you buy ingots, you still need to store them securely. This either involves a safety deposit box at a bank, or stashing it around one's home somewhere and hoping one doesn't get burgled. Also, buying actual gold assumes that some future government won't make private possession of gold illegal, as America did during the Great Depression in 1933 or 1934. This restriction didn't apply to collectible coins or jewelry, but wasn't lifted until 1975.
The best option I've found so far is to buy shares in mining companies, or companies closely related to such, e.g. BHP Billiton or Anglo American.
HTH, Alex.
In message , Simon Finnigan writes
You used to be able to buy gold coins on the London Gold market via your bank. I am not sure if they will still do it though. It would need to be a real bank though, not one of these trendy pretend banks that have sprung up all over the place.
Buy krugerands for bullion. Try these:
If you don't like holding it and trust others to do so:
or try the new ETFs.
Or if you higher risk with higher return, buy a stake in Merrill Lynch's Gold & General Fund which invests in gold mining stocks whihc tend to leverage the price of gold by 3:1.
Roland.
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