Gold as an investment.

[Chromatic]

I am not a wealthy person but my savings are not returning anything nowadays. I don't trust stock and shares and will not go that way and was thinking of buying gold but have no idea of how to do it so here are my questions for any of you experts in the matter:
- Where do I buy gold from?
- In what shape does it come?
- How do I resell it when the time comes?
- Is there commission to be paid when buying and selling?
I am looking forward to seeing your answers. Many thanks.

https://www.bullionbypost.co.uk/gold-bars/

 

[srw]

Gold isn't an investment, it's a gamble. The best long-term investment is still, as it always has been, a diversified portfolio of shares and bonds, using whatever ISA and pension wrappers you can to make as best use of your tax breaks, combined with some property if you've got the capital and the tolerance of illiquidity. That's dull, but true. Just find the cheapest tracker you can.

Equities and bonds have both tanked recently. Whether they are undervalued, overvalued or appropriately valued now is irrelevant compared with the likelihood of gains if you sit and hold for the next 10 years.

 

[Drago]

I follow the commidoties market and find the price of gold a little un-predictable. Silver follows the same general trend but is less prong to giving you a wedgie when you least expect it. Considering how other values have fallen they've both remained fairly buoyant, so it's not liable to be as advantageous as oil, which is where my pennies have gone.

If you want to buy physical gold you need to either buy a vast amount or wait a very, very long time (possibly far longer than your lifespan) to make any profit worthy of the name.

 

[gavroche]

How about oil? That’s at a pretty deep low right now.

Already done that, filled up the car with diesel.

 

[vickster]

Just get a fixed term cash isa, 2% should be achievable fixed over 5 years and tax free. If completely risk averse

 

[srw]

Just get a fixed term cash isa, 2% should be achievable fixed over 5 years and tax free. If completely risk averse

https://moneyfacts.co.uk/isa/

1.61%. And you're exposed to the (substantial) risk that inflation is higher than that. At the moment the market has inflation expectations around 2.5%.

Cash is great as a defensive investment if you might well need to spend it or if you've got a relatively predictable need for a particular amount at a particular point in time. Personally I wouldn't waste an ISA allowance on a bank account.

 

[vickster]

https://moneyfacts.co.uk/isa/

1.61%. And you're exposed to the (substantial) risk that inflation is higher than that. At the moment the market has inflation expectations around 2.5%.

Cash is great as a defensive investment if you might well need to spend it or if you've got a relatively predictable need for a particular amount at a particular point in time. Personally I wouldn't waste an ISA allowance on a bank account.

I got 1.55 on a 3 year, which is fine. It’s money I won‘t need to access and I had to move swiftly before the end of the tax year and I’m v risk averse especially having seen shares isa and pension go to shoot in March! The same product is 1.15 now
I also maxed out premium bonds.
I‘ve started a couple of low-medium risk shares ISAs for this year

The OP doesn’t want stocks but it might be useful to know approx how much he has to invest and at what level of risk. He’s a retiree which I guess might influence whether he would be willing to lose money

 

[vickster]

I’ve literally just got a letter saying that my 1.65% fixed Isa matures this month and will drop to 0.15. So that’s more to figure out how to invest

 

[Deleted member 26715]

£100k ?????? I wish.

Not the only one

 

[neil_merseyside]

I’ve literally just got a letter saying that my 1.65% fixed Isa matures this month and will drop to 0.15. So that’s more to figure out how to invest

You can usually change products in that company to their better rate without issues, they hope inertia means you won't obviously.
Or you can just transfer to another company by electronic transfer (so money laundering traceability) to a provider who already has(had) identity/address/inside leg info previously.

 

[vickster]

You can usually change products in that company to their better rate without issues, they hope inertia means you won't obviously.
Or you can just transfer to another company by electronic transfer (so money laundering traceability) to a provider who already has(had) identity/address/inside leg info previously.

Indeed, I’ve done that with other ISAs, but it’s finding a decent deal 👍

Maybe I should buy some gold

 

[Deleted member 26715]

Maybe I should buy some gold

Or better still buy me some gold

 

[SpokeyDokey]

Indeed, I’ve done that with other ISAs, but it’s finding a decent deal 👍

Maybe I should buy some gold

Vanquis 3 year Fixed Rate Bond at 1.8% - FSCS protected.

We have a fair chunk of money in an FRB with them which we got at 2.66% over 5 years in July 18. We moaned about that rate too.

https://www.vanquissavings.co.uk/3-...ium=table&utm_campaign=desktop&utm_term=3year

 

[vickster]

Or better still buy me some gold

Buy your own

 

[Deleted member 26715]

Buy your own

That's not as much fun