Deposits-in the bank or in gold?

[koleusdat]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

[1714708124]

1714708124

[Patrol69]

Currently, due to inflation, keeping money in the bank is becoming a very risky decision. Some of the reputed banks of our country have already declared themselves bankrupt.

A relative of my acquaintance deposited all his savings in a reputed bank of our country. He had a lot of plans with that deposited money. But due to inflation in our country, that bank is heavily indebted and the bank declares itself bankrupt, not just limited to this, I am far from getting that relative money back, a certain amount of money is being shown in its account. 
After hearing this news, he is very broken mentally. So we should all be careful that our future is not like that relative of mine. When gold is deposited in a bank, the bank may set a price for the gold and pay interest as the price of gold rises.

[Lorence.xD]

Since you are in the forum, I think you are aware in the cryptocurrency where you could store, invest and trade your funds. Inflation could also be good in this industry where economic issues could give good benefits in here. You've mentioned you don't prefer banks as they always go bankrupt, investing in gold is also a good alternative since gold value in a long term would be high but it's still depends on the economic situation of a country. For you to not think about the interest why not buy it straight from them so you could sell anytime?

[Jawhead999]

It's true if bank deposits could be used to hedge against inflation, because the interest rate of bank deposits is higher than the inflation rate, but don't forget it's not liquid because you need to stake it for 1-10 years and there's a penalty if you withdraw it before the due date.

Investing in gold could be an option, but people in this forum including me prefer to invest in Bitcoin to hedge against inflation because the return could be higher than gold and the uniqueness of decentralization which you can't find in any other asset.

[BitMaxz]

I don't know what you mean by "How is gold bought in the bank" I think banks do not have precious metals like gold you can buy gold in any jewelry shop without approval from banks.

The good thing about investing in Gold the price is pretty stable and you can hold it for a long-term investment compared to investing your money in the banks with only a small P.A interest.
However, both of them are good investments because both of them will give you profit but Gold always depends on the market value it may drop or increase in value compared to banks where you can surely make a profit from the interest.

[Coyster]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

Gold is not bought in a bank, but it can be kept in a bank for safety. You can buy physical gold from people who sell it, you'd have to look for sellers in and around your location. Gold can also be bought in the form of jewelries or accessories, meaning you can buy gold jewelries from either a shop or from people who want to sell their gold accessories. Gold could also be bought in the form of stocks, etc, just surf the internet and you'd get many other ways to purchase gold, then select that which is best for you.

Having said that, banks do not go bankrupt all that often, but your money in the bank wouldn't accrue too much interest, and might also depreciate in value because of inflation. Buying gold is a great option, it is a safe haven asset/a store of value, its price does not move sporadically and it does not pump like crypto, but what you get with gold is stability and a fair ROI.

[Adbitco]

If I may get you correctly you are talking of buying Gold as a currency to trade and hold? Just as few have mentioned banks doesn't sell gold but for some security reasons you may decide to store them over there. But practically you can change the narratives of buying digital gold which is Bitcoin and hold with this you are in possession of your asset and there's no risk of bankrupt or government in control of your assets. Digital money being bitcoin gives you more edge than fiat and it doesn't make any increase all less in a fixed deposit account.

[salad daging]

A better suggestion is gold if you are still afraid to keep savings in the bank because of inflation, but I don't think the bank will completely go bankrupt but you don't have too much faith in the bank they will still inflate the value even though they give interest every year but I don't think it's cover the losses from inflation.

But for people who are afraid of high risks then physical gold is the choice. This will be stable on a long scale. I also have some assets stored in physical gold which can be purchased at any available store. It's the only stable asset I can use when in a pinch.

Of course, what we've noticed is that now increasing investment in bitcoin is a high risk but with returns quite commensurate with what is invested over the next few years.

[Bitstar_coin]

I don't know the amount of interest you get from buying gold from the bank ^{if that's possible} but i think it is much better to buy from the open market than from the bank.
if you are afraid of banks going bankrupt when saving money then same thing can apply to the gold you bought from the bank as well. A distress bank will not exactly give you access to your gold since they are part of of the assets. Buy your gold buy your safe and secure it yourself.

[Ojima-ojo]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

Over the years investors chose banks as the best choice for the safe keeping and means to grow interest but then after a while their only open to more risks since banks are centralized and could close up on investors without refunds on investments, and even at that sometimes the interest payment is so small that other bank charges eat them up on the long run.

So for that, bank fixed deposits are not the best choice of investment and anyone looking to have a fruitful financial future should look for some other sectors such as real estate,  Bitcoin,  and Golds, but the best among them is bitcoin and gold since both assets give you total control over your money and you are in a self custody investment holding them, and having great potential to give future profits without direct tax.

[BVeyron]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

Deposits should be mixed: in gold, in fiat (both banks and cash), in crypto also, and in some valuable things... Every deposit type has its drawbacks and advantages. Also it is vital for deposits: they should be suitable for paying directly with them (without exchange) in order to buy things for a living.

[maydna]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

Buying gold and using it as savings makes a lot of sense. There may be other calculations from the bank, but I don't know the details. You can ask the bank, what if you buy gold and keep it in the bank? Can you get interested in it? But it seems the bank will not give interest for the stored gold, but I don't know.

But I prefer to buy bitcoin for future savings because the return on bitcoin can be bigger than gold. I suggest you have both bitcoin and gold to get big profits in the future.

[meanwords]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

For safe-keeping, Banks are still the safest and the easiest method to store your money, and there are a lot of benefits to them besides security. Of course, there's inflation so it wouldn't make sense to deposit in the bank if you want to grow your money. For gold though, I don't think gold provides interest, however, gold prices steadily increase in price but it's super slow, especially if you factor inflation.

[KiaKia]

Would have been a more interesting topic if you include Bitcoin, I prefer investing my money on Bitcoin than gold and bank, fixed deposits? Not my thing, it's a time wasting way of making penny on your fixed money.

Buying Gold is better than Fiat because it's more valuable, a good store of value in my opinion but I just like Bitcoin more because it's me and my Bitcoin, no one knows that I have Bitcoin unless I tell them and the decentralized power that Bitcoin is offering is, even more attracting to me.

The only one thing that banks do better is securing your money and they take responsibility if anything happens on their end, but the problem with fiat is inflation and also I am not completely in control of my money that I worked for, the government can tell the bank to seize my money.

[uneng]

Most people don't know how to start investing in gold, so it's not a very popular investment category. Most people prefer to simply deposit their money at the bank and earn interest on their saving accounts inferior to the inflation rates of their countries. That is a consequence of lack of financial knowledge among the average citizens.

However, thankfully we have Bitcoin investment nowadays, which is accessible to everyone, at the reach of their fingers on any mobile device connected to the internet. That is the most versatile and democratic investment you can make right now with any sum of money thinking on long term returns. I believe Bitcoin has come to give an opportunity for those who don't know how to invest in gold, and therefore couldn't fight inflation without Bitcoin on their lives.

[_BlackStar]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

If you know that the big banks out there are bankrupt, then don't ever trust anything in bank products even though they also offer gold investments. I know you can find gold shops anywhere in your country, so it's easy to buy it if you have the budget to invest it.

I haven't had a bank deposit for a long time, but I still use bank services for my daily financial needs. But it would be better if you consider bitcoin as a worthy investment instead of just gold.

[flyingcarpet]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

If you've decided to keep it in a bank first, don't do it in one bank. Divide your assets into banks and reduce risk. At no time should your entire being be in one place. If you prefer to keep it in gold and you will do it through banks, I can suggest the same way. Do not use a single bank.

In addition to all these, you can also invest in crypto and store it through wallets. If you prefer this way, you are already in the forum where the most reliable information is available.

[ichsan ardi]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

if asked to choose between savings in a bank or gold of course I choose gold because gold has a value that tends to be stable but if there is another choice I choose bitcoin to protect my assets against inflation because there are only 21 million bitcoin coins circulating in the world of fixed value and no it can be added differently with money and gold. I think one of the top assets for dealing with inflation is bitcoin, how about you

[OgNasty]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

Buying gold to me is something people to do protect their wealth. If you have more money than you know what to do with, sure, get some gold as insurance. If you’re trying to maintain spending power and beat inflation though, your best bet has always been stocks. I feel like cash and gold are both lost or confiscated more than I’d feel comfortable with, but you rarely ever hear of stocks being lost or confiscated, not to mention their historical return has been quite higher than gold or cash.

[South Park]

How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?

Precious metals can be bought on a variety of places and not only at banks, however gold often presents three important problems for those that want to buy it, to begin with where to buy your gold? Fake gold is a thing, so if the source where you buy your gold is not a good one you could easily be deceived, second you need to find a place where to keep it, doing so at the bank is a mistake as some countries have laws that allow governments to open safe deposit boxes without a court order and grab whatever is there, and finally you need to be able to hold your gold for a long time if your aim is not only to protect yourself from inflation but also to earn some money.