Investing in Gold - Novice trader

[marksmithsports]

Hi there!

 

I am looking for some advice and tips on the sources of information out there in invest in PM, especially gold and silver. I'm not particularly interested in holding the golds myself but I'm more concerned with making a return on my investment​.

 

I'm currently investing in mature whisky as a long term project (10 years plus) but after recently setting up an account with bullion vault I've also purchased my first piece of gold (0.023 grams) but if I'm brutally honest I don't have alot of knowledge on the swings with gold prices. I want to make returns within 6-12 month period of investing in metals so i can increase my long term investments.

 

I've been told that gold prices tend to take off towards Q3 of the year and given Donald Trump is such a volatile POTUS i can see the economy and financial markets beginning more unstable therefore boosting the value of gold.

 

I know there are so many variables to consider but would love to hear what people think on the subject.

 

And any trading strategies people use with PM.

 

Thanks!

[marksmithsports]

Hi there!

 

I am looking for some advice and tips on the sources of information out there in invest in PM, especially gold and silver. I'm not particularly interested in holding the golds myself but I'm more concerned with making a return on my investment​.

 

I'm currently investing in mature whisky as a long term project (10 years plus) but after recently setting up an account with bullion vault I've also purchased my first piece of gold (0.023 grams) but if I'm brutally honest I don't have alot of knowledge on the swings with gold prices. I want to make returns within 6-12 month period of investing in metals so i can increase my long term investments.

 

I've been told that gold prices tend to take off towards Q3 of the year and given Donald Trump is such a volatile POTUS i can see the economy and financial markets beginning more unstable therefore boosting the value of gold.

 

I know there are so many variables to consider but would love to hear what people think on the subject.

 

And any trading strategies people use with PM.

 

Thanks!

[vand]

Sounds like you should open an IG Index account and go spreadbetting.

[Clens92]

30 minutes ago, marksmithsports said:

I don't have alot of knowledge on the swings with gold prices. I want to make returns within 6-12 month period of investing in metals so i can increase my long term investments.
 

Thanks!

 

Welcome to the forum.

Unless you are playing with a lot of money, you will not see significant investment returns from precious metals within 6-12 months on the scale of your current investment.  You say you've bought 0.02 grams of gold... is this a typo?  That is worth £0.64... I can't buy a chocolate bar for that.

 

Metals are generally seen as a 10+ year investment.

If you are looking for high-risk short-term investments, which you appear to be, I would suggest calling a financial advisor or taking a punt on a high-risk hedge fund.

 

Best of luck to you!

 

[sovereignsteve]

I don't think you could actually see 0.023g of gold! Well I couldn't anyway

[sovereignsteve]

18 minutes ago, vand said:

Sounds like you should open an IG Index account and go spreadbetting.

Think you need to be in UK to spreadbet with UK firms.

[marksmithsports]

Welcome to the forum.
Unless you are playing with a lot of money, you will not see significant investment returns from precious metals within 6-12 months on the scale of your current investment.  You say you've bought 0.02 grams of gold... is this a typo?  That is worth £0.64... I can't buy a chocolate bar for that.
 
Metals are generally seen as a 10+ year investment.
If you are looking for high-risk short-term investments, which you appear to be, I would suggest calling a financial advisor or taking a punt on a high-risk hedge fund.
 
Best of luck to you!
 

Ahhh yes, I meant kg not g! [emoji38]

[JSILVER]

Invest in physical, I don't count it unless I know where it is

 

[Clens92]

9 minutes ago, marksmithsports said:

Ahhh yes, I meant kg not g!

Okay, so 23g is a good start.  But perhaps you could tell me more about what kind of % gains you are hoping for in your investment timeframe?

I think that 90% of this forum's members would be thrilled at a 3% above inflation annual increase in the spot price... a lot of people invest in gold to preserve the value of their existing wealth, not to actively increase it.

Happy to help if you have more questions

[vand]

Any trader will tell you that there are a literally endless ways to trade gold or its derivatives and your skill and knowledge as a trader will determine if you are profitable or not - this is not something that we (or anyone) can help you with. Most/all of us hold physical PMs for reasons of insurance and diversification and do not consider it a short term speculative venture.

[marksmithsports]

I'm aware that with trading it's about 80% discipline and having the right mindset to handle the ups and downs - and of course having some kind of edge. Easy, right? [emoji3]

Thanks for answers so far guys.

Also any suggestions for websites, Twitter accounts you follow on this subject?

[Murph]

Is whisky a worthwhile investment given it doesn't improve with age in the bottle?  Unless you're buying the very rarest stuff or casks?  The best time to pick up whisky was when a lot of distilleries were closing and you could pick up some of their old stock at very cheap prices.  No fancy labels or anything but lots of very old stuff.  I just wish I hadn't drunk all mine 30 odd years ago.  

[marksmithsports]

Is whisky a worthwhile investment given it doesn't improve with age in the bottle?  Unless you're buying the very rarest stuff or casks?  The best time to pick up whisky was when a lot of distilleries were closing and you could pick up some of their old stock at very cheap prices.  No fancy labels or anything but lots of very old stuff.  I just wish I hadn't drunk all mine 30 odd years ago. [emoji4] 

I'm investing in whisky in the cask with the distillery. I recently bought 400 litres of pure alcohol with Starlaw 2017 with idea of holding it for next 8-10 years or when a good offer comes in for it down the line... It's stored and held in bonded warehouses until matures or when i decide to sell at any point.

It's with the same guys who own bullionvault