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Where to buy physical gold in Cork(not by post)

  • 26-10-2021 5:56pm
    #1
    Registered Users Posts: 2 irishthuia


    Where to buy physical gold in Cork(not by post)

    or

    if there is none - what online resellers are reliable?



Comments

  • Registered Users Posts: 2 irishthuia


    seriously? no one even thought about it? damn, this makes me think there is no such thing in Cork which is second biggest city in Ireland, this is WTF because you can easily buy physical gold even in small towns in other European countries..anyone? physical gold seems to be one of the best investing options and people just don't care here..damn



  • Registered Users Posts: 2,233 ✭✭✭ massdebater


    Sorry I can't help but maybe try posting in a different forum, you might have more luck there.

    Gold's been pretty terrible as an investment for a long time now, it hasn't held up as an inflation hedge in 30+ years. Other asset classes (REITs, commodities, equities, crypto etc) have all performed much better in recent years, you'll not find many here who agree that it's "one of the best investing options".

    Of everyone I know who's into investing, I don't know a single one who owns gold and I've never heard anyone talk about wanting to buy any. That's probably why you haven't got many responses here. Is there a Cork forum you could try maybe?



  • Registered Users Posts: 23,590 ✭✭✭✭ Peregrinus


    Gold has a number of undesirable characteristics as an investment. It pays no interest, dividends or other periodic return. In fact, there's a cost to keeping it, since you have to arrange secure storage somewhere, or run the risks associated with keeping it under the bed, so to speak. Plus, unlike property or an interest of some kind in a business enterprise, it has no intrinsic productive capacity, so you're entirely dependent on market sentiment to determine the price of gold. This makes gold quite volatile. And there is no fundamental reason why the price of gold should tend to rise faster than prices generally.

    It does have some positive characteristics. It's a traditional safe haven in times of instability so, when the economy is taking a dive or threatening to, gold often appreciates in value. Therefore, it's an investment you might favour if you are a pessimist, and expect the economy to tank. But most of the time the economy grows, so most of the time gold is fairly sluggish as an investment, compared to real assets like property and shares. If you can foresee the near future and jump into gold just before instability threatens and out again just before things stabilise again, your gold investments will probably do nicely. If you buy gold and hold it for the long term, not so much.



  • Registered Users Posts: 5,255 ✭✭✭ The J Stands for Jay


    Don't forget it doesn't have great liquidity. If the price of gold rises, are you going to be able to sell a few ounces from Ireland's third largest city quickly enough to benefit from the price rise?



  • Registered Users Posts: 26,191 ✭✭✭✭ Wanderer78


    i hear great things about these folks, tempted myself

    think gold bug jim rickards has the best approach in regards investments in gold, 10% of your portfolio



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