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Gold/Silver

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Thread replies: 13
Thread images: 2

Hey /biz/. I'm pretty new to this board and I'm looking to buy Gold or Silver as a kind of safe investment. I wouldn't buy much as I have a minimum wage job. I'm 18 and live with my parents still, starting University soon and I'm getting into IT which is a great career path in NZ. My question really is, should I buy silver or gold and how much of it? I have an app that's constantly telling my the value. Cheers.
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>>1739546
>should I buy silver or gold

No... These are hedges against Fiat i.e Government controlled currency... Gold and silver are being replaced as hedges via Internet Cryptocurrency... I.e Bitcoin... However i would advise you to buy Monero, as it is the up and coming cryptocurrency set to rival Bitcoin... You will not be disappointed with this investment!
>>
Question related to gold: if you buy British Sovereign or Britannia gold coins overseas and fly into the UK with them, do you have to pay import taxes on them? I'm asking because they are official currency with fixed face value and that's why I think they might be exempt from taxes, but I'm not sure.
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gold is a long term hold
no one gives a monkeys about its daily value but the Trump dip may have been a good point to buy for protection from market volatility

>>1739617
im not sure if you have brain rot or a genetic defect so i'd suggest searching for "British gold coins" then reading what comes up.
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>>1739546
well here's some tips for you:

-Buy Physical gold only.
-Avoid any "gold on paper", these are issued in higher quantities than actual gold mined and/or produced.
-Demand certification from a reputable seller.Makes selling easier once you get to it.
-Buy a stealth safe.
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>>1741206
>these are issued in higher quantities
well if 300 times aka 30000% is "higher" for you then sure.
>>
>>1739546
Silver has the biggest potential upside.

I bought at your age fucking like 7 years ago (I'm getting old) around $15-20/oz and I grabbed 200 ounces.

I lucked out when I cashed out at $40, literally the peak, then it has come back to where I originally bought it.

Great if you want to save money, won't lose much value at this price, and it can only go up from here.
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>>1739562
I visibly cringed at this post, seriously, this cryptocancer makes me want to leave /biz/
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>>1742801
>Silver has the biggest potential upside.
it most likely will go down hard in the next years tho.
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>>1739546
>I'm looking to buy Gold or Silver as a kind of safe investment.

you've been memed by internet memes
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>>1743921
>Implying markets aren't people just meming each other constantly.

Gold always goes up because we keep saying it will making more people buy it.
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>>1739546
Silver is still mostly an industrial material. Its price dips down when the economy crashes due to low demand. That's the opposite of what you usually want out of a precious metal.

Gold is generally thought to develop at an inverse to the economy, which (in theory) makes it a good hedge. So gold is something add to your portfolio to make it more stable, maybe to the tune of 5-10%, 20% at most of your whole capital. Its relatively stable (although there's been plenty of speculation and mid-range volatility in the last years), but also not very profitable. Physical gold is definitely the way to go, but you usually have to buy above spot to cover the vendor's margin and the cost of minting or casting and when you decide to sell it can be a bit of a pain in the ass to get a price close to the spot again. And gold's price is so high that any meaningful amount is already a pretty hefty sum for a minimum wage worker...

If you want something long-term that'll last you through the next crisis or two, gold is the way to go. But it's more a means of preserving wealth than it is of increasing it. I hesitate to call it an "investment" even, since more likely than not you won't see any money coming out of it (you may have gains on paper, but they're meaningless if you never realize them by selling your gold - which most people never do).
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>>1739546
I'd advise you to buy as much as you possibly can without going into debt. You'll pay less of a premium for silver than gold unless you're buying kilos. Do it, you won't be sorry.
Thread posts: 13
Thread images: 2


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