Thread: Gold Buying
View Single Post
  #11  
Old 01.08.2012, 09:28
gigidoc gigidoc is offline
Newbie
 
Join Date: Sep 2010
Location: greece
Posts: 7
Groaned at 0 Times in 0 Posts
Thanked 4 Times in 3 Posts
gigidoc has no particular reputation at present
Re: Gold Buying

Quote:
View Post
OK... so I reckon that Gold prices will go up in the next couple of years. If for no other reason that the indisputable trend has been.. goes up for a while.. bounces around for a while.. goes up for a while.. bounces around for a while.

.. and it's been bouncing around for a while.

So I'm inclined to get some of the stuff...but I'm still confused about the best way forward. Walking into UBS with some cash and walking out with some shiny stuff seems to be the easiest and 'safest' procedure. But some people here think that's not as 'clever' as trading 'shares' in gold.

Could someone please put forward the simple pros and cons of the two options.
Certainly owning physical gold is much preferable to the assurance of a banker that they keep your allocated gold. You can purchase it with cash up to 25K at UBS or CS. The problem is when you decide to sell it you must have an account at UBS if it is worth more than 25K (which includes the 1kg and 500gr bar as of now) so you are back into the banking system with all the obvious consequences. Paradoxically all the companies that advertise to sell you gold in Zurich are not interested in buying your gold! If anyone knows any reputable company which buys gold I would like to know.
Reply With Quote
This user would like to thank gigidoc for this useful post: