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Yes - gold is a safe haven and that's why it's currently doing so well.
Unlike a company, a bank or a government, gold can't go bust.
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allthepies - Member
£8K on hookers, drugs and booze. Waste the other £2K.
😆
I would have serious serious concerns over BV
Who regulates them? Who to says they have actually bought your gold let alone holding it.
There are reasons why you have to jump through a few hoops to open a UK trading account with your bank, stockbroker etc.
The hoops are there to protect you the investor.
Fill in an online form, then just send your money over…. madness
What happenings if they go bust?
Serious please please take your monies out
So can you go to BV and ask to see your little pile of gold?
I would have serious serious concerns over BV
Founded on what perhaps? Check out the stats yourself and I think you will find that they are a reputable company. Even won a Queens Award for Enterprise and Innovation in 2009.
I had to jump through more hoops setting up an account with BV than I did through Barclay's when setting up a share trading account. BV wanted passport scans and everything.
Anyway I guess you'll have to make your own mind up. If you'd rather keep your cash under the mattress or in one of the bailed out banks that may soon go tits up then please feel free. I bet it would take the government a minimum of 6 months but probably far longer to cough up and stand good on their deposit protection scheme - provided of course they can afford it!
cheburashka, does it feel weird that your initial investment has decreased in value by 2% already?
Thanks for pointing that out... I had noticed, yes. 😆
It's just a blip...
I agree with Northern Star's sentiments and the only reason gold is not sky rocketing right now is that banks are having to sell gold as people withdraw their money the below inflation returns their investments are offering right now.
I put about 7 grand into gold in an ISA when it was worth $700/oz: It's now worth almost $1800 tax free. Got my pension in there in a SIPP.
Invested via Hargreaves Landsdowne as their fees are miniscule and I can buy and sell at the drop of a hat online.
I reckon gold will go to $2000 by the end of the year..I might sell then and re-buy if it drops a couple of hundred...
Eggs
Basket?
I have some magic beans for sale, should yield golden egg's and gold is a good investment..
pm me.