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Author Topic: What scares me from investing in gold.  (Read 977 times)
electronicash
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May 22, 2024, 05:31:06 PM
 #101

One should never invest in only one asset as it will be too risky for him. for this it is a good plan to invest in multiple assets and it will reduce the investment risk a lot. In this case it is better to invest in various potential things like gold, real estate, bitcoin, agriculture etc. Yes, Bitcoin is a well-known and popular investment asset in the current digital age and it is a must-have investment asset to start with in small amounts.
By having several types of investment, of course this is very good if it can be carried out correctly and is profitable for us, but the most important thing is that we have a good understanding of the investment that we will carry out so that we don't lose the capital we invest, for now we invest in Bitcoin is very popular at the moment and we can start with an amount that suits our abilities. If we can do it consistently, of course this is very good for preparing us for a better future.

the problem with these multiple assets is that when you are just a regular person an extra couple of hundred for the month is not going to be reasonable. people couldn't afford right now, barely even paying rent because of the economy.

i would still suggest investing in a small amount of gold and BTC, these are the only that one may need to survive a depression while its value is going to increase the longer we hold.

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May 22, 2024, 05:38:18 PM
 #102

I understand the point of (OP)'s post, which suggests that buying gold from Costco may not be the most profitable option. This according to the OP is influenced by Costco not offering a buyback option when selling gold, and the fees associated with purchasing gold from Costco are relatively high compared to the fees charged on most crypto exchanges for buying or selling bitcoin. OP also suggests considering other options, like a pawn shop.

Although pawnshops may be an option for selling gold, in my opinion, there are several things to consider before deciding to sell gold to them. First, pawnshops usually offer a selling value that is lower than the actual price of gold on the market.

So, looking for other alternatives may be better if you want to get a higher value for your gold. In addition, on this occasion I advise you to consider selling your gold to a local jeweler or gold dealer. Some jewelry stores may offer better prices than pawn shops, especially if your gold is in good condition and has high aesthetic value.


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May 23, 2024, 02:29:05 AM
 #103

I understand the point of (OP)'s post, which suggests that buying gold from Costco may not be the most profitable option. This according to the OP is influenced by Costco not offering a buyback option when selling gold, and the fees associated with purchasing gold from Costco are relatively high compared to the fees charged on most crypto exchanges for buying or selling bitcoin. OP also suggests considering other options, like a pawn shop.

Although pawnshops may be an option for selling gold, in my opinion, there are several things to consider before deciding to sell gold to them. First, pawnshops usually offer a selling value that is lower than the actual price of gold on the market.

So, looking for other alternatives may be better if you want to get a higher value for your gold. In addition, on this occasion I advise you to consider selling your gold to a local jeweler or gold dealer. Some jewelry stores may offer better prices than pawn shops, especially if your gold is in good condition and has high aesthetic value.
This is something strange if there really is this incident, because usually the golden seller will be willing to accept what is bought from him. Usually there is an option because the seller still benefits from the purchases made. Naturally, if this is compared to what happens to Crypto, where all transactions can be done and are more flexible.
I think the option is not good when selling it to a pawnshops because he is only looking for profits from every transaction that occurs and the price is cheaper than the market price.
Instead, I agree with you In selling to the gold shop because it will usually be more fair in judging and providing the price of gold that will be sold.

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May 23, 2024, 03:47:01 PM
 #104

I think Gold used to be a good investment but it just simply doesn’t provide high enough returns any more to interest me. We’re here on a Bitcoin & cryptocurrency forum, Gold is a boomers investment. Bitcoin is here to take over, I see no reason why anybody under 50 would want Gold now.

There is nothing wrong with someone wanting to own gold in this day and age, gold is still the asset considered the best inflation hedge and safe haven. That was most clearly shown during the recent inflationary period, when crisis and inflation attacked the world economy, gold continuously increased in price and was always the top choice of the Government as well as billionaires.

And the reason we choose bitcoin is because we want to get rich quickly, we don't have too much capital and we want to become rich with our little capital. It is true but many people are trying to hide it and are starting to criticize gold and real estate, assets that they seem unable to own.

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May 23, 2024, 10:02:47 PM
 #105

Having gold physically is risky. Very much. I know you already know this, But then why do you have to invest in it when you could invest in digital gold? There are project who’s token is like buying gold, it will be the same price as what’s in the market and when you do that, they buy the physical gold so it backs the digital gold you have. This way you can hold it for long and choose when you wish to sell depending on the gold market.



 

 

 

 

 

 


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May 25, 2024, 11:18:01 PM
 #106

Really! I don't know it's difficult to sell gold or maybe it depends in your country. If it's super easy to buy gold, it should also be easy to sell them. I have not purchased gold before and I don't even know the best places to buy or sell gold in my country, I only know of one place where you can exchange different assets, you can sell different currency including gold too but I don't know if they sell and buy gold with the normal rate of gold in the real market.

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May 25, 2024, 11:25:23 PM
 #107

The majority of people modest savings and the usual pension possibility to invest should probably looking for the cheapest index trackers with low fees.   In theory all sorts of ideas are good but most of us wont be skilled enough to justify the extra cost of dealing via fees.   Indexes can include gold mining firms which just like oil firms have massive reserves that gain value in times such as now.   

 I find I can trade in and out of a fund with greater ease and less cost and just trading the peaks and lows can be very profitable, its also hard to do of course.  I find thats enough challenge for me most of the time.

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May 28, 2024, 04:44:44 AM
 #108

Really! I don't know it's difficult to sell gold or maybe it depends in your country. If it's super easy to buy gold, it should also be easy to sell them. I have not purchased gold before and I don't even know the best places to buy or sell gold in my country, I only know of one place where you can exchange different assets, you can sell different currency including gold too but I don't know if they sell and buy gold with the normal rate of gold in the real market.
It should be easier to sell gold than shares or property, because gold can be valued directly at the current price, and it shouldn't be difficult.
Selling gold is actually the same as exchanging dollars for the local currency, and it should be just as easy to do, but I agree with the opinion of the colleague above. Perhaps in each country the treatment is very different and that happens with op. So it will indeed be difficult to be able to uncover things and incidents like what was experienced, because in my country selling gold is very easy, and you can accept it anywhere.

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May 28, 2024, 07:17:04 AM
 #109

Really! I don't know it's difficult to sell gold or maybe it depends in your country. If it's super easy to buy gold, it should also be easy to sell them. I have not purchased gold before and I don't even know the best places to buy or sell gold in my country, I only know of one place where you can exchange different assets, you can sell different currency including gold too but I don't know if they sell and buy gold with the normal rate of gold in the real market.
It should be easier to sell gold than shares or property, because gold can be valued directly at the current price, and it shouldn't be difficult.
Selling gold is actually the same as exchanging dollars for the local currency, and it should be just as easy to do, but I agree with the opinion of the colleague above. Perhaps in each country the treatment is very different and that happens with op. So it will indeed be difficult to be able to uncover things and incidents like what was experienced, because in my country selling gold is very easy, and you can accept it anywhere.
It should be so that gold will be very easy to sell compared to other properties which take time when we want to sell it and there are not necessarily any takers if we need funds immediately and this is very different from gold which we can sell whenever we want even though there is a small discount when we buy it and I think this is very natural, choosing to invest in gold will give us a profit when the price of gold increases and we can sell if we really want to make a profit from it.

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May 28, 2024, 05:11:24 PM
 #110

It should be easier to sell gold than shares or property, because gold can be valued directly at the current price, and it shouldn't be difficult.
Selling gold is actually the same as exchanging dollars for the local currency, and it should be just as easy to do, but I agree with the opinion of the colleague above. Perhaps in each country the treatment is very different and that happens with op. So it will indeed be difficult to be able to uncover things and incidents like what was experienced, because in my country selling gold is very easy, and you can accept it anywhere.
It should be so that gold will be very easy to sell compared to other properties which take time when we want to sell it and there are not necessarily any takers if we need funds immediately and this is very different from gold which we can sell whenever we want even though there is a small discount when we buy it and I think this is very natural, choosing to invest in gold will give us a profit when the price of gold increases and we can sell if we really want to make a profit from it.
Yes true, you could even buy a house, and historically it is not "that" hard to sell a house, if you put it up for sale eventually you will sell it, may take a while but it will be sold eventually. But not like gold, you can sell gold instantly, right away, the day you want to sell it, whereas house could take days.

This is why it's smarter to invest into gold, but you can't really make much money from gold, not a lot, it moves slow, it has a good gradual increase in value and if you keep on investing into gold from age 23 until age 63 for 40 years until you retire, you are going to retire with a great pension. But storing it is difficult, and there are many other investments that can earn more, so that is why not everyone does it.

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May 28, 2024, 05:30:31 PM
 #111

Really! I don't know it's difficult to sell gold or maybe it depends in your country. If it's super easy to buy gold, it should also be easy to sell them. I have not purchased gold before and I don't even know the best places to buy or sell gold in my country, I only know of one place where you can exchange different assets, you can sell different currency including gold too but I don't know if they sell and buy gold with the normal rate of gold in the real market.

Buying and selling physical gold is very easy and there are no complications in such a thing but one fault of selling physical gold is that you will not get the same amount of money at which people are buying because the selling price of gold is always lower than buying cost.

One way to get profit from physical gold investment is that if you buy physical gold and then don't think about its selling until it reaches your dream cost so if some amount is deducted then you will not be in loss because your selling price at that time will be higher.



 

 

 

 

 

 


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May 30, 2024, 01:35:49 PM
 #112

Really! I don't know it's difficult to sell gold or maybe it depends in your country. If it's super easy to buy gold, it should also be easy to sell them. I have not purchased gold before and I don't even know the best places to buy or sell gold in my country, I only know of one place where you can exchange different assets, you can sell different currency including gold too but I don't know if they sell and buy gold with the normal rate of gold in the real market.
It should be easier to sell gold than shares or property, because gold can be valued directly at the current price, and it shouldn't be difficult.
Selling gold is actually the same as exchanging dollars for the local currency, and it should be just as easy to do, but I agree with the opinion of the colleague above. Perhaps in each country the treatment is very different and that happens with op. So it will indeed be difficult to be able to uncover things and incidents like what was experienced, because in my country selling gold is very easy, and you can accept it anywhere.
It should be so that gold will be very easy to sell compared to other properties which take time when we want to sell it and there are not necessarily any takers if we need funds immediately and this is very different from gold which we can sell whenever we want even though there is a small discount when we buy it and I think this is very natural, choosing to invest in gold will give us a profit when the price of gold increases and we can sell if we really want to make a profit from it.
Well, Gold is good investment if have knowledge of gold . I think every investment is good if you are investing by researching on the market. Do not take step blindly and do your own research. Gold is good commodity and it's price will go up in future because that is limited on earth and mechinary of mining gold is very costly and every country can't do this process. Due to limited supply and limited mining it's price will go up and gold investors will be happy in future. But in stocks of gold investment, that is little risky because that is not physical gold and there need great knowledge and great technical analysis.

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May 30, 2024, 03:21:53 PM
 #113

There's mostly a commission on both buy and sell and sometimes selling might be a bit more problematic than buying gold. Many buyers also asks for bill of purchase. Commodity trading or bank gold funds could be an alternative and easier way of buying or selling gold but here you don't physically own your gold. There even are some crypto options claiming to be pegged with gold price backed by equal amount in gold but I haven't verified them and don't really recommend that option.
There might be some troubles in buying, holding and trading gold, but they are the most accepted assets around the world even better than US dollar.

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May 30, 2024, 03:55:47 PM
 #114

I think Gold used to be a good investment but it just simply doesn’t provide high enough returns any more to interest me. We’re here on a Bitcoin & cryptocurrency forum, Gold is a boomers investment. Bitcoin is here to take over, I see no reason why anybody under 50 would want Gold now.

There is nothing wrong with someone wanting to own gold in this day and age, gold is still the asset considered the best inflation hedge and safe haven. That was most clearly shown during the recent inflationary period, when crisis and inflation attacked the world economy, gold continuously increased in price and was always the top choice of the Government as well as billionaires.

And the reason we choose bitcoin is because we want to get rich quickly, we don't have too much capital and we want to become rich with our little capital. It is true but many people are trying to hide it and are starting to criticize gold and real estate, assets that they seem unable to own.
The traditional inflation hedge?  Traditional investors find comfort in gold. Realistically, gold's hedging value depends on when you buy and sell. Past achievement during inflation doesn't ensure future success. Consider that gold-locked money is not invested elsewhere. It's safe, but you may miss out on larger rewards with increased risk. I'm not suggesting gold is useless. It belongs in a diversified portfolio, but counting on it as your lone rescuer is dangerous

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May 30, 2024, 04:31:14 PM
 #115

1) I asked the salesperson will Costco buy gold back when I want to cash in and sell it? He said no Costco only sells but won't buy it back.
So buying gold from Costco would be super easy and convenient but when you want to sell it Costco says good luck you are on your own.
All gold shops will surely buy back the gold we purchase from them. If we buy and sell at the same shop, there won't be any deductions due to the gold's condition deteriorating. But if they only sell and are not willing to buy back the gold, it's likely fake gold, and other shops are unlikely to buy such gold. Avoid purchasing gold from such places.

It is indeed surprising that such a reputable place lacks clarity in their transactions. In my country, there are usually regulations and institutions governing such transactions to ensure the authenticity of the goods sold, such as certification or government regulations regarding the trade of gold and jewelry. However, there are sometimes cases of fraud or shortcomings in supervision as well. It's important to always be cautious and do research before engaging in transactions, and to choose a trustworthy place with a good reputation.

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May 30, 2024, 04:58:48 PM
 #116

One should never invest in only one asset as it will be too risky for him. for this it is a good plan to invest in multiple assets and it will reduce the investment risk a lot. In this case it is better to invest in various potential things like gold, real estate, bitcoin, agriculture etc. Yes, Bitcoin is a well-known and popular investment asset in the current digital age and it is a must-have investment asset to start with in small amounts.
By having several types of investment, of course this is very good if it can be carried out correctly and is profitable for us, but the most important thing is that we have a good understanding of the investment that we will carry out so that we don't lose the capital we invest, for now we invest in Bitcoin is very popular at the moment and we can start with an amount that suits our abilities. If we can do it consistently, of course this is very good for preparing us for a better future.
We have to wait for the right time and the right opportunity. The price of gold greatly depends upon the economic conditions of the world as well as the progress and development through which the country is going on.

So we should invest in gold when there is good market conditions throughout the world so that the price increase can benefit us and in this way we can have investment at the right time for the right profit.

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May 30, 2024, 05:11:36 PM
 #117

Having gold physically is risky. Very much. I know you already know this, But then why do you have to invest in it when you could invest in digital gold? There are project who’s token is like buying gold, it will be the same price as what’s in the market and when you do that, they buy the physical gold so it backs the digital gold you have. This way you can hold it for long and choose when you wish to sell depending on the gold market.


It is only risky when it is not properly kept and their is information that you have gold at home that is when it is risky. Because the question is were exactly do you want me to keep my gold. If is not in my house some were safe that I can wake up to and get to see it everyday. It's a good suggestion and digital gold is not a bad idea but not everyone have idea on digital gold. Everything is about doing research and after proper findings have been made then that way you can carry out your plan easily. If you are buying the digital then backing it up with the physical one. So the information will determine what part you want to take. And you can freely decide what you want to go for.

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May 30, 2024, 08:08:04 PM
 #118

I would say we shouldn't buy physical gold there is a making charge or GST at the time of buying and they while selling as well there would be wastage charge and in different countries they have different nomenclature for these charges rather i choose to invest in SGB which is available in my country where you get sovereign gold bonds instead of physical gold and sell it just like stocks at last three days average price.









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May 30, 2024, 08:44:28 PM
 #119

It is only risky when it is not properly kept and their is information that you have gold at home that is when it is risky. Because the question is were exactly do you want me to keep my gold. If is not in my house some were safe that I can wake up to and get to see it everyday. It's a good suggestion and digital gold is not a bad idea but not everyone have idea on digital gold. Everything is about doing research and after proper findings have been made then that way you can carry out your plan easily. If you are buying the digital then backing it up with the physical one. So the information will determine what part you want to take. And you can freely decide what you want to go for.
I believe in keeping physical gold at home compared to digital gold in a bank account, several months conventional banks have had several problems related to losing customers because they do not provide solutions to replace lost customer funds, so I will not believe in storing any assets with third parties then the same such as the case of storing bitcoin assets on an exchange for the long term, do you trust your assets to be managed by a third party? but I wouldn't trust anyone else and the option of holding physical assets is much better although you have to keep your assets secret from others for security reasons.

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May 30, 2024, 09:46:06 PM
 #120

     Selling gold online has pros and cons, from my perspective. Of course, the pros are that you don't need to go directly to the gold seller's place just to buy it, and you can pick it up at the location where it is located. Then the rates are also very competitive.

     That's why, when it comes to the cons, security is also very crucial. Maybe later the buyer is a scammer, so it will be necessary to research well if the buyer is legit or not. These are just some of the pros and cons that I see.

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