I had this conversation with a friend yesterday and we were both reminiscing when we were stacking these when they were £190 each and today they are bouncing around the £400 mark. He was saying for him now they are becoming practically harder to buy 1 a mental block for him as he's still wishes he could buy at the sub £200 mark, (don't we all) but 2 real world limitations £400 is a chuck of money now for normal people and wages have not doubled in the time gold has. Yes you could say buy less per year but is there a point where even buying 1 is a considered purchase.
We could say it's all relative but it clearly isn't, by the time every gets their 10% pension boost and workers get there 8-15% pay rise it's very likely gold would have risen again 15-20% more, is gold accelerating away in terms of affordability for mortals especially if you look at the longer term predictions for gold. I know anyone can predict anything and the market could go south so this leads me onto another question.......
A what price for a bullion sovereign would you back the truck up......and I mean really back it up, pull a chuck of savings, load the credit card I mean really throw a good portion of your wealth into it?
Would be interesting to see where the low and high bar is for people.
For me I'd back the truck up at £300, but would have to really consider buying less at £600-£650 if they doubled in price again in the next 6-7 years to £800 and wages had still not kept up I'd be out. (I'd be selling loads so I'd still be happy)
I can hear people saying you can play the spread, of course you can but I just really wanted to simplify at what point is a sovereign too much for a moral working person?