Hi,
Since the ebay sale is on, I saw people are flocking to buy gold coins and bars, is this a good investment ? Perth Mint ebay store has 10 grams gold for around $430 after the code and cashback. Is this a good price ?
I grew up with parents always telling us to buy gold as it NEVER loses value, does this statement still hold true?
Experiences on this invesment before 12 am (code expiry) is greatly appreciated, is buying physical gold as investment still worth it?
So according to the chart on the site, 10 gm is 397.25 USD, and according to xe that's $440 AUD, so I am saving $10 per 10 grams today. correct ?
Gold is at its lowest price in years, the old rule about gold being a safe investment is long gone
I have never understood why individuals would invest in gold. Like any commodity its price fluctuates. The statement that it holds its value over time maybe or may not be true. Gold does not generate any income eg interest, dividends or rent. Secondly if you buy any decent amount of gold it's going to cost you to store it securely. Historically you'd probably be better off buying bank shares, you get 5-6% in franked (tax effective) dividends and capital growth has been good over a long period of time. Also when you go to sell gold you probably will not get the price you would expect.for example if you go to the bank to convert currency they won't give you the rates published on XE.com they will probably also charge you a fee. The same would be applicable to selling gold.
Just on this point - I know many quick gold sale places (they usually advertise by people holding signs in the street) sell at 2% below spot rate. A few are willing to negotiate.
Look at the chart here: http://www.goldpriceoz.com/gold-price-per-gram/
Gold is always going to be worth a considerable amount. Looks like it was worth more 2 years ago.