What currency should I use to buy gokd

adam88

Just wondering which currency should I use to buy gold. I've holdings in €,£ and $

Blacktie.

Bitcoin

ZeroThreat

Is gold even managing to keep up with inflation these days?

Recently I happened to check on the price of some sovereigns I bought in 2013, for about €277 each.

Today, they cost €281 each to buy, so I'd no doubt make an actual loss if I were to sell them.

So much nonsense was being spouted several years ago about gold jumping in value, but still disappointing that even low inflation has most probably devalued what I have.

650Ginge

ZeroThreat wrote: »

Is gold even managing to keep up with inflation these days?

Recently I happened to check on the price of some sovereigns I bought in 2013, for about €277 each.

Today, they cost €281 each to buy, so I'd no doubt make an actual loss if I were to sell them.

So much nonsense was being spouted several years ago about gold jumping in value, but still disappointing that even low inflation has most probably devalued what I have.

I like Warren Buffets view on gold...'it's doesn't do anything for you it just sits in the corner...it might go up ir might go down but it doesn't work for you.'

Something along those lines.

Sorry need idea on currency it's priced in dollars isn't it.

Wanderer78

650Ginge wrote:

I like Warren Buffets view on gold...'it's doesn't do anything for you it just sits in the corner...it might go up ir might go down but it doesn't work for you.'

Jim Richards has some interesting views on gold, I.e. it being a form of money being one. Probably no harm in having some in the portfolio

Bitcoin

Good evidence that Bitcoin is the new gold https://www.forbes.com/sites/panosmourdoukoutas/2017/08/30/bitcoin-is-the-new-gold/amp/

Bitcoin

Good evidence that Bitcoin is the new gold https://www.forbes.com/sites/panosmourdoukoutas/2017/08/30/bitcoin-is-the-new-gold/amp/

bren2002

I would have thought buy in your base currency to avoid exchange rate exposure. But thats up to you.

bren2002

IMHO while bitcoin could have a use. Its a complete bubble at the moment.

Wanderer78

Apologies for hijacking the thread, but where would people recommend buying gold?

bren2002

[url]Https://www.Bullionvault.com[/url]

McCrack

bren2002 wrote: »

IMHO while bitcoin could have a use. Its a complete bubble at the moment.

And what do you think is going to make it pop and disintegrate?

Bearing in mind corrections along the way are normal.

ZeroThreat

McCrack wrote: »

And what do you think is going to make it pop and disintegrate?

Bearing in mind corrections along the way are normal.

Being based on some obscure computer calculations makes it a lot more flimsy than a metal only produced during supernovas

YossiA

I use http://www.merriongold.ie/ They also have Safe Deposit Boxes on site if you need secure storage. The goings on in North Korea this weekend should see price increases tomorrow.

wordofwarning

McCrack wrote: »

And what do you think is going to make it pop and disintegrate?

Bearing in mind corrections along the way are normal.

When the Chinese Government had negative things to say about Bitcoin (it was being used to avoid Chinese currency controls), it had a sharp dip.

Bitcoin is a classic bubble. 'I am buying it today, as it will be worth more tomorrow'. 'It has a "use" and it will change the world. I don't know what that use is'.

If anyone has read the what is a bubble chapter in a random walk down wall street. There is a zero chance you would be buying bitcoin.

Getting back on topic. People bought gold, as it was a hedge for inflation. It does not appear to the case anymore. Plus there is no great inflation to hedge gold against at the moment.

Gold is more correlated with oil than the CPI at the moment
https://goo.gl/images/YogKzG

If I wanted to buy Gold (I don't). I would buy a gold ETF. They are pretty liquid and expense ratios are quite small. I would hazard the expense ratio is a fraction of the spread when you go to buy/sell physical gold and store/insure physical gold

McCrack

wordofwarning wrote: »

When the Chinese Government had negative things to say about Bitcoin (it was being used to avoid Chinese currency controls), it had a sharp dip.

Bitcoin is a classic bubble. 'I am buying it today, as it will be worth more tomorrow'. 'It has a "use" and it will change the world. I don't know what that use is'.

If anyone has read the what is a bubble chapter in a random walk down wall street. There is a zero chance you would be buying bitcoin.

Getting back on topic. People bought gold, as it was a hedge for inflation. It does not appear to the case anymore. Plus there is no great inflation to hedge gold against at the moment.

Gold is more correlated with oil than the CPI at the moment
https://goo.gl/images/YogKzG

If I wanted to buy Gold (I don't). I would buy a gold ETF. They are pretty liquid and expense ratios are quite small. I would hazard the expense ratio is a fraction of the spread when you go to buy/sell physical gold and store/insure physical gold

The concept of cryptos is new to a many people so naturally people will compare its price rise to a "bubble"; same people that dont generally understand the fundamental technology of a blockchain.

bitcoin is not a fiat currency, its value is linked to its number of users and the number of transactions it makes and as more people use it then its price will continue to increase. It has a finite supply too, there will only ever be 21 million bitcoins.

It touched 5000 briefly the other day.

Every new high it made people were shouting its going to collapse etc...