What scares me from investing in gold.

[|MINER|]

When it comes to investment, people think of land, gold and BTC first.  But there are some problems here.  Normal people can't sell gold at the price they buy. Because the price at which gold is bought goes down a bit while selling and faces some problems. So I would say to invest in land and BTC. Land prices are increasing day by day.  And BTC is the most trusted medium to invest in. Here the money is safe and the expected profit is also possible from now on.

[poodle63]

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

investing in gold, even though it might spare us from the inflation unironically sometime the whole system just doesn't really work in the favour of us.
reselling gold is a pain, i mean its great knowing the gold chart whereas our asset aren't tanking in term of value but instead keep rising because its the norm that gold could spare us from inflation so it kind of fulfilling its own rule due to suggestion of people but sometime the liquidity is what gold is lacking.
the shop that sold gold bullion are also trying to reap as much profit as they can not from the market rate but from trying to charge fee to whomever out there trying to liquidate their gold its just silly.
hopes that there's easier way to deal with liquidity in gold market but I know that investing in bitcoin just more simple for me and more profitable too.

[0t3p0t]

Buying gold is good but for me it works best as a long term investment. Since it is a physical asset I am afraid to have it in my possession as we all know that it can be misplaced, robbed or even worst it could be lost. I also having a hard time selling it at spot price when I needed money because it's not how it's sold here in my place that is why if ever I had one better to hold it long term.

[electronicash]

the gold that costco sells are physical gold which will have less liquidity in times when everyone is also struggling. when you need to cash it out you may find it hard to find some buyers for the gold you have making it useless still. but sure you can find someone when you sell them for less which i guess makes investors scared to buy.

in the times of digital age, its always the digital assets that will work for us which are cryptocurrencies.

[Kakmakr]

I watched many Youtube videos on the Dubai Gold markets and how even in a country like that with very strict laws, scammers still operate.

Now, if that is true... how bad will it be in countries where there are less strict regulation and law enforcement.

You also need to be able to test the quality of the Gold and hope that the centre of the Gold bars are not filled with lead or iron or some other cheap metal that are mixed with the Gold.

It is simply too tricky for the average investor on the street to buy Gold.

[God bless u]

I was in Costco the other day and was tempted to buy gold bars they were selling to diversify my portfolio.
I have never bought gold as an investment before and it would be super easy and convenient to get it from my local Costco.

For those who don't know Costco is a very popular supermarket in the US that sells everything from grocery to consumer electronics.

Two things made me change my mind.

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.

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.

I read a couple articles on the internet about how to sell gold and it seems a rather complicated and expensive process to do.
Where do you even go to sell your gold besides a pawn shop (who will give you only half of what its worth if you're lucky)?

Do you have to ship it to the buyer? Is escrow involved?



How to sell gold without getting scammed.
November 10, 2023

https://www.cbsnews.com/news/gold-prices-how-to-sell-your-gold/

Yeah its not started today but it's more of a general rule that whenever you buys something it's of a high price but when you sell the same thing even without using it it will be sold in a lesser price then of what it was bought.

But don't resell it to the same medium you bought it from e-g if you bought it from a dealer then sell it to another person not to a dealer again.

[Iranus]

When it comes to investment, people think of land, gold and BTC first.  But there are some problems here.  Normal people can't sell gold at the price they buy. Because the price at which gold is bought goes down a bit while selling and faces some problems. So I would say to invest in land and BTC. Land prices are increasing day by day.  And BTC is the most trusted medium to invest in. Here the money is safe and the expected profit is also possible from now on.

My wife and I bought some physical gold in 2015 and so far that investment has almost doubled my profits. Although I have no intention of selling them yet because I don't need the money urgently and have no need to use them yet. But I bet you that I could sell all my gold in just 10 minutes without any problem. I believe you have never traded gold and you don't know what you are talking about about gold. It's ridiculous to think that gold buyers will have to sell at a loss while the price of gold has doubled compared to many years ago.

On what basis do you consider bitcoin the most reliable investment? I dare to assure you, you and I are investing in bitcoin just because we have too little capital and we want to get rich quickly with it, nothing more and nothing less.

You like many others, only know how to look at the volatility of bitcoin, look at the profits that bitcoin brings and evaluate it as the best investment. But is such an assessment correct and objective?

[MissNonFall9]

I was in Costco the other day and was tempted to buy gold bars they were selling to diversify my portfolio.
I have never bought gold as an investment before and it would be super easy and convenient to get it from my local Costco.

For those who don't know Costco is a very popular supermarket in the US that sells everything from grocery to consumer electronics.

Two things made me change my mind.

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.

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.

I read a couple articles on the internet about how to sell gold and it seems a rather complicated and expensive process to do.
Where do you even go to sell your gold besides a pawn shop (who will give you only half of what its worth if you're lucky)?

Do you have to ship it to the buyer? Is escrow involved?



How to sell gold without getting scammed.
November 10, 2023

https://www.cbsnews.com/news/gold-prices-how-to-sell-your-gold/

Your points number one and two lie in why you should invest your precious money in Bitcoin instead of gold. Since Costco will only sell gold but never buy gold from buyers and deducts a lot of charges on the spot price which is much higher than the cryptocurrency exchange. It would be wise to invest in cryptocurrency instead of buying gold. Another reason to invest in cryptocurrency is that the process of buying and selling it is very simple and less expensive than others.

[Bitco55]

I was in Costco the other day and was tempted to buy gold bars they were selling to diversify my portfolio.
I have never bought gold as an investment before and it would be super easy and convenient to get it from my local Costco.

For those who don't know Costco is a very popular supermarket in the US that sells everything from grocery to consumer electronics.

Two things made me change my mind.

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.

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.

I read a couple articles on the internet about how to sell gold and it seems a rather complicated and expensive process to do.
Where do you even go to sell your gold besides a pawn shop (who will give you only half of what it is worth if you're lucky)?

Do you have to ship it to the buyer? Is escrow involved?



How to sell gold without getting scammed.
November 10, 2023

https://www.cbsnews.com/news/gold-prices-how-to-sell-your-gold/

There are many ways to sell gold, but limited opportunities. The physical gold is still very much worth buying just that it'll be more profitable for people starting a jewelry business. Imagine investing in tons of real gold from wherever buying in bulk definitely means less amount spent. Then afterwards you hired goldsmiths and made beautiful accessories. That's some business idea.

The thing is, of course, not everyone's going to want to sell their gold like jewelry, so how about selling it to jewelry businesses, yeah? That's what they want, and they'll pay to get it from you. I'm sure Costco isn't the only gold-selling place in the world... So don't let that bad experience discourage you. Gold is really some profitable thing to buy and keep.

[STT]

Gold has been rising for 20 years now, not without reason but if you are buying right now its quite late and unfortunate if never having considered a trade or hold before this time.

Gold has been a net buy by central banks for decades mainly I would be referring to China who had no reserves and were not trading with the West properly decades ago.  Obviously anyone who has not been in a coma knows aot of things are made in China now just like HK & Japan  used to mass produce alot directly.

Far easier to miss is that China is divesting its Dollar bond holdings and buying gold.  Japan holds a trillion but none of these are secure long term imo.  China is not just buying gold but is the worlds largest producer of gold for some time.   I dont especially want to rely on anything China does with its force of a military dictatorship as that is not a true market.  It is true in general Asia respects gold but western culture has noticed a trend and come to this a bit late.

Gold will do fine but its a commodity market, 10% can be lost in a day easily it wont be all gains never is.   People may not appreciate that, the cheapest way to own gold is from the large miners; I dont consider that too risky especially.

[Zanab247]

Some small time armed robbers came to raid a small area in my town yesterday, I bet if anyone of them is holding gold in the house the robbers will run away with the gold, this incident makes me think about how bad it is to hold something as valuable as gold at home.

If I have to invest my hard earned money into anything it will be something that's not physical, apart from land properties, it will never be something valuable and physical like gold.

Its not even safe, if someone know that you have something as valuable as gold at home they might plan to attack you, gold is a good investment, but it attracts bad things, you must not keep it close or move it when other attentions are present.

Where there is gold, blood flows.

Gold is very easy for armed robbers to have access, because they have idea on gold and they know where to find them when they break into your house, and there is no way you can escape them not to steal the gold from you.

Some time, it is the people you informed that you hodl Gold in your house will gang up to ensure they collect the gold from your hands by force, and if you drag with them, they can take your life and still steal the gold from you.

That is why many people are converting their money into BTC to be able to hodl them long, and it will be difficult for armed robbers to have access to BTC and withdraw them from the wallets without be caught by the police in the environment to teach others thief lessons because it will take them time before they can get the seeds phrase and the person password to withdraw the BTC.

[lepbagong]

Gold is very easy for armed robbers to have access, because they have idea on gold and they know where to find them when they break into your house, and there is no way you can escape them not to steal the gold from you.

Some time, it is the people you informed that you hodl Gold in your house will gang up to ensure they collect the gold from your hands by force, and if you drag with them, they can take your life and still steal the gold from you.

That is why many people are converting their money into BTC to be able to hodl them long, and it will be difficult for armed robbers to have access to BTC and withdraw them from the wallets without be caught by the police in the environment to teach others thief lessons because it will take them time before they can get the seeds phrase and the person password to withdraw the BTC.

It really makes sense what you say about storing gold assets, because gold is a form and is easily visible and can be known by other people and, most importantly, when stored, it is prone to actions that could be detrimental to those who hold it, especially at home.
However, if assets are transferred in crypto as an investment, it will clearly not be visible in real form, and you will not be able to do anything with the assets you own other than knowing the phrase or passkey. At least it would be more difficult than tangible gold to be possessed by unscrupulous actions.