What scares me from investing in gold.

[DeathAngel]

What should scare you from investing in gold is that it’s a prehistoric rock with an unknown supply cap. It doesn’t go up that much, you’d be lucky to make 20% profit over 10-15 years. Gold was a good investment 100 years ago, in the modern day Bitcoin is far superior.

[traderethereum]

I think it is worth purchasing gold due to its long proven history as a proof of value, even though it seems complicated to sell later, because if it is an investment, you would like to hold it for long terms, and since it has almost a universal value, you can keep it as an emergency fund, if the store is charging extra, try to buy online where you can buy at the market price and have it delivered to you at a shipment cost I guess.

I also think that way. He could still try even if he had difficulty buying or selling it.
But it all comes back to the decision because we are in different places. If gold is not easy to buy and sell locally, he might want to consider other types of investments.
However, we know that many people have invested in gold for a long time, and the price of gold tends to remain stable now. But if he is still in doubt, he can just invest in bitcoin so he has an investment for his future.

[armanda90]

Actually investing in the gold not easy as our imagination depend physical gold investment or digital, some place have difference rule based on my country marketplace for selling gold with difference place or difference kinds of gold has difference values and has some market not acceptable if not their own gold. Its the same with OP case some market just available for buying only and get difficult for selling it later and another problem with physical gold investment get charge or fees every time transaction between selling or buying and its too much expensive in my local market place.

For investing with digital gold very difficult looking for the trusted site or place with have gold offer investment, so far I don't know which one place offer and trusted with gold digital for investing and have been operation or longer time.

[el kaka22]

What scares me is the inflation and gold not being able to overcome that, nothing more than that. Inflation is high, and gold usually doesn't go up that high, meaning, if inflation is 7% and gold goes up 5% then it means we are not seeing it go up enough, while you are richer than you used to be on paper because your amount seems higher, the reality is that you are actually poorer because of inflation. Now imagine this but every year for 20-30 years, then you will realize why it's a bad investment.

I prefer bitcoin, because while there could be years when it's down, when you look at 20-30 years into the future, I am sure that it will always be higher than inflation, you will actually be richer and not just on paper.

[Queentoshi]

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.

There are surely companies and businesses that are into buying gold, or providing loans equivalent to the value of any gold or valuable you provide. You cannot expect all the business selling gold to also be buying back.

2) Costco charges a 2% fee over the spot price which is two to ten times what most crypto exchanges charge you to buy and sell bitcoin.

Investing in gold is a choice, and it is not like that there are no other investment choices. If you want to buy gold, you just have to have a good reason and also be ready for all the fees involved.

[South Park]

What scares me is the inflation and gold not being able to overcome that, nothing more than that. Inflation is high, and gold usually doesn't go up that high, meaning, if inflation is 7% and gold goes up 5% then it means we are not seeing it go up enough, while you are richer than you used to be on paper because your amount seems higher, the reality is that you are actually poorer because of inflation. Now imagine this but every year for 20-30 years, then you will realize why it's a bad investment.

I prefer bitcoin, because while there could be years when it's down, when you look at 20-30 years into the future, I am sure that it will always be higher than inflation, you will actually be richer and not just on paper.

The issue with gold is that it can take decades before it moves at a high speed, and during that time gold will not be able to beat inflation and it may even remain static, making it way worse than just holding your fiat, as if you want to sell it you will have to take a loss when you do it, decreasing the amount of money you can get for it even further, and to this we must also mention there is a lot of fake gold out there that looks just like the real thing, and if you were to buy one of those counterfeits you will have no chance to get your money back.

[Asuspawer09]

You could sell your gold easily for sure, it is just a matter of how the value of gold increases, if you're going to buy some kind of gold jewelry you could easily sell it off at any moment but if we are going to compare the increase of the value of Gold to Bitcoin, Bitcoin was surely going to be on the top, but the thing here is Diversification, every investment for sure is going to include risk, If we are just going to invest everything on Bitcoin and it fails then we are going to lose everything, So if you are already well invested on Bitcoin it wouldn't actually hurt to invest as well on Gold, you never know you might make a good profit on it as well, I like buying gold jewelry I mean it holds its value for sure, plus you could use it as jewelry as well.

Still, let's not degrade gold, I mean I've watched a lot of people online hold their gold and then sell it at a much higher price compared to how much they bought it probably ten or more years of holding it. So it's not actually a bad investment as long as the market value is gonna go well for you, you're going to make a good profit out of it if you are lucky, nothing is guaranteed so there are always risks on every investment.

[Xcode7]

Actually investing in the gold not easy as our imagination depend physical gold investment or digital, some place have difference rule based on my country marketplace for selling gold with difference place or difference kinds of gold has difference values and has some market not acceptable if not their own gold. Its the same with OP case some market just available for buying only and get difficult for selling it later and another problem with physical gold investment get charge or fees every time transaction between selling or buying and its too much expensive in my local market place.

For investing with digital gold very difficult looking for the trusted site or place with have gold offer investment, so far I don't know which one place offer and trusted with gold digital for investing and have been operation or longer time.

Investing in gold, especially physical gold, is for the future. I think that cutting costs when selling is not a reason because the costs are quite small and gold is also likely to increase in price in the future.
In my country, it is the same as you said, not all places accept sales of gold except for places in our area where we buy it, but I think that can also be used as an excuse or fear because investing in gold is for the future and I think it is quite safe.

[MeGold666]

If you interested in having gold why not invest on a gold ETF
Physical gold is not worth the risk and with it's high price Now and difficulty in selling at market price
I don't see it been profitable
Gold rise lower than other stocks and buying at $2K doesn't mean you can sell at said amount but most likely lower.
Not to mention physical Gold can be stolen.

Buying Gold ETF is like buying cryptocurrency on CEX and never withdrawing - You don't really own it, you just have a receipt for it.

Gold is not about being profitable, it's about preserving value in a long term and it's doing it perfectly.

I prefer cryptocurrencies over gold because It's harder to steal (if your OpSec is good), easier to travel with and to trade.
That's why I traded all my gold long time ago for cryptocurrency.

From an investing point of view, I always preferred to buy something I can have fun with while holding it like Rolex/Patek watches or classic cars.

[radjie]

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.

This is an obvious reason, because it is quite difficult for anyone who buys it.  There is no profit later when making a sale because Costco does not provide resale services.  There will be a larger reduction fee if the sale is made in another shop, investing in gold bullion is clearly not recommended if it comes from that shop

[Troytech]

If selling gold is what go you discouraged then that is an easy part to solve, they are lots of stores that still buy gold till date and many investment vehicles that can allow you to invest in gold, but from what i see you probably wanted to bug some godl chain and consider it an investment, and that is hardly how they invest in gold.

More over gold is more like a store of value kind asset that an investment cause gold has quite reached its maturity and does not give much profits this days, unless you have a huge capital to invest, and having gold can be good too if you want to pay for something without using cash.

[philipma1957]

Actually investing in the gold not easy as our imagination depend physical gold investment or digital, some place have difference rule based on my country marketplace for selling gold with difference place or difference kinds of gold has difference values and has some market not acceptable if not their own gold. Its the same with OP case some market just available for buying only and get difficult for selling it later and another problem with physical gold investment get charge or fees every time transaction between selling or buying and its too much expensive in my local market place.

For investing with digital gold very difficult looking for the trusted site or place with have gold offer investment, so far I don't know which one place offer and trusted with gold digital for investing and have been operation or longer time.

Investing in gold, especially physical gold, is for the future. I think that cutting costs when selling is not a reason because the costs are quite small and gold is also likely to increase in price in the future.
In my country, it is the same as you said, not all places accept sales of gold except for places in our area where we buy it, but I think that can also be used as an excuse or fear because investing in gold is for the future and I think it is quite safe.

the op has made a thread so bad it is good.

the op has missed every point of why you buy gold.

the premium on gold at Costco is low. 2%
use a cc with discount points the gold ends up at spot.
Costco is safe to buy gold
selling gold is easy pease right here at bitcointalk.org a huge section of buyers that are good.

to anyone that wants to buy a few oz worth of gold to hodl for a decade thank the op for his thread.


I wonder if Costco paid him to write it.

[lixer]

I do not know what the problem is with buying gold, if in my country any bullion is served in any bank - from the smallest to the largest, and you can buy physical gold for almost any amount. But the trouble is that the selling price is very different. This is specially done by banks so that people cannot play on the gold rate when it rises and falls. And the benefit will be only when gold rises in price by about 15 percent. And very bad conditions. After all, the bank makes a huge profit from such conditions, and this is very bad for people.

Banks also offer to buy gold tokens in the app, but this is not physical gold. It is somewhat similar to the mechanisms of operation of ETF. But this is stupid, because the point of buying gold is always that you get your hands on it.

Why buy through banks in the first place? Aren't there private shops and merchants available in your country where you can go and buy physical gold by paying cash? This should be a possibility, but even if you do that, don't think that you are going to get a buying rate that matches the selling rate because merchants will sell at a different rate and then buy at a different rate, but there wouldn't be a difference of 15% or higher and you can easily get some profit if the price of gold goes up a little bit.

You are right that I don't find anything wise in buying digital gold where you don't have access to the physical assets that you own, it is better to invest in Bitcoin instead of doing that then because you will get more profit from Bitcoin in that case.

[erep]

Why buy through banks in the first place? Aren't there private shops and merchants available in your country where you can go and buy physical gold by paying cash? This should be a possibility, but even if you do that, don't think that you are going to get a buying rate that matches the selling rate because merchants will sell at a different rate and then buy at a different rate, but there wouldn't be a difference of 15% or higher and you can easily get some profit if the price of gold goes up a little bit.

The difference between buying and selling physical gold in shops and traders is not too different from the estimated world gold price, this option is better than buying gold bullion or digital gold at the bank because they have set a high selling price and buying at a lower price, they only offer convenience but their program is detrimental to society. I doubt the bank's security system because several reports of customers losing money in their accounts, but the bank is not willing to replace customer funds and they seem to be avoiding the problem, so this condition raises public doubts about banks to store assets, whether it is savings or digital gold, but I choose to store physical assets at home or the second option to convert to crypto assets to be stored on a hardware wallet.

[TopT3ns]

If selling gold is what go you discouraged then that is an easy part to solve, they are lots of stores that still buy gold till date and many investment vehicles that can allow you to invest in gold, but from what i see you probably wanted to bug some godl chain and consider it an investment, and that is hardly how they invest in gold.

More over gold is more like a store of value kind asset that an investment cause gold has quite reached its maturity and does not give much profits this days, unless you have a huge capital to invest, and having gold can be good too if you want to pay for something without using cash.

Exactly, it's good to make gold an investment that you can keep for quite a long time. If you have gold that you own, it will have high value. When you have gold that is physically intact, it will have the potential to be very expensive, but if the gold you own If you only have it in the form of jewelry, the price will depend on the shop as you said before.

[kentrolla]

If selling gold is what go you discouraged then that is an easy part to solve, they are lots of stores that still buy gold till date and many investment vehicles that can allow you to invest in gold, but from what i see you probably wanted to bug some godl chain and consider it an investment, and that is hardly how they invest in gold.

More over gold is more like a store of value kind asset that an investment cause gold has quite reached its maturity and does not give much profits this days, unless you have a huge capital to invest, and having gold can be good too if you want to pay for something without using cash.

Exactly, people just need to understand how to invest and they are so short sighted that they don't understand how to invest and how to make it valuable. I usually don't prefer buying physical gold because I have to keep it secure and sometimes greedy shops charge higher commission/wastage fee if you want to sell it. I rather prefer gold bonds which is like online gold and we can sell them off anytime at the market price and there are so many plans which offers you to invest in gold and they will keep it secure instead of buying physical gold.

[iBaba]

What should scare you from investing in gold is that it’s a prehistoric rock with an unknown supply cap. It doesn’t go up that much, you’d be lucky to make 20% profit over 10-15 years. Gold was a good investment 100 years ago, in the modern day Bitcoin is far superior.

Well, what can make people to invest in gold could be for a couple of reasons, majorly people used to see this as an opportunity to invest or rather save their financial asset to provide them against inflation and deflation. Secondly, owning a gold can also help one provide macroeconomic uncertainty. Because of the longevity of the market against inflation as well as it's great value over the long period of time. But when it comes to investment with the intention of making profits, then one should head straight over to bitcoin investment whether through the DCA approach or the Lumpsum.

[Bananington]

What should scare you from investing in gold is that it’s a prehistoric rock with an unknown supply cap. It doesn’t go up that much, you’d be lucky to make 20% profit over 10-15 years. Gold was a good investment 100 years ago, in the modern day Bitcoin is far superior.

Well, what can make people to invest in gold could be for a couple of reasons, majorly people used to see this as an opportunity to invest or rather save their financial asset to provide them against inflation and deflation. Secondly, owning a gold can also help one provide macroeconomic uncertainty. Because of the longevity of the market against inflation as well as it's great value over the long period of time. But when it comes to investment with the intention of making profits, then one should head straight over to bitcoin investment whether through the DCA approach or the Lumpsum.

I just have to continue from where you stopped and add that gold reserve is the oldest and most secure way to ensure that one has a good return any time in the future, spanning into generations that either inherited it or were gifted it, in any form it appears. It doesn't rely on internet or wallets to be kept safe.
Even world power countries would have to have a good backup of gold reserve incase of war and critical emergency that may require much more than money can afford at the moment.

Bitcoin is an interestingly wise choice of investment that sure promises much more profit in the long or short run and without much stress of looking for a pawn shop or broker to conclude on sales prospect before even sorting buyers for it.

[boty]

Exactly, people just need to understand how to invest and they are so short sighted that they don't understand how to invest and how to make it valuable. I usually don't prefer buying physical gold because I have to keep it secure and sometimes greedy shops charge higher commission/wastage fee if you want to sell it. I rather prefer gold bonds which is like online gold and we can sell them off anytime at the market price and there are so many plans which offers you to invest in gold and they will keep it secure instead of buying physical gold.

That's right, of course everyone must be able to understand well the investments they make because without properly understanding the investments they make, of course they will be very unlikely to make a profit from the investments they make, what you do very well will indeed be very easy. to invest in gold online so we don't need to think about a safe storage place and it seems much easier to sell it, but we have to really understand it well so that we don't make mistakes in making purchases that result in losses.

[moneystery]

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.

i don't know that there are gold sales places where you can buy gold there, but you can't sell it there, the fees are also quite expensive, around 2%, and there are still people who want to buy gold from places like that. because in my country, here the place where gold is sold and bought only charges a fee of 0.1% for each transaction and people will be able to directly trade their physical gold directly there without any conditions, the most important thing is that they bring a certificate of validity of the gold. i think that gold trading should be this easy, because it will really help investors who want to buy gold.