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As Mega is resting, I shall fill the gap today. On the front page of the online version:
The Guardian (UK): How Can I Buy Gold?
I hope this is not a contrary indicator, but the beginning of a stampede.
The Guardian (UK): How Can I Buy Gold?
I hope this is not a contrary indicator, but the beginning of a stampede.
With the markets going haywire, and investors concerned that their savings could disappear in a puff of smoke, a growing number of people are choosing to transfer their money into something more tangible than a bank account. There have been queues outside some bullion merchants, and one online gold broker, Bullion Vault, is opening around three times as many accounts a day as it was in early September. One couple told the BBC website they had gone so far as to sell their house and invest the cash in gold. "The phones haven't stopped ringing," says a spokesman for bullion merchant Baird and Co.
Gold's appeal is that it is less prone to the fluctuations of the global market. Its value is fixed twice a day by the five members of the London Gold Pool. On Friday afternoon it sat at just over £526 a troy ounce (the unit of weight for precious metals) - although this is expected to rise.
The London Bullion Market Association publishes a guide for those wishing to buy over the phone, online or in person, and you should note that, as a commodity, it is subject to capital gains tax. Dealers sell bars varying from one ounce to 100 ounces or larger, or you can buy gold coins - if you can find them. "We can't buy any more coins," says the spokesman for Baird and Co. "There are no sellers, only buyers right now."
Many people choose to invest in exchange-traded funds or buy stocks in gold mining companies. However there may be transaction fees, and an added risk of volatility. You could cut out the middle man and stash your gold at home, though it's worth considering the extra insurance costs - and the added lumpiness to your mattress. From a financial point of view, there is little point in panic-buying jewellery - you will pay extra for the craftsmanship, and the metal will be less pure than investment-grade gold.
Gold's appeal is that it is less prone to the fluctuations of the global market. Its value is fixed twice a day by the five members of the London Gold Pool. On Friday afternoon it sat at just over £526 a troy ounce (the unit of weight for precious metals) - although this is expected to rise.
The London Bullion Market Association publishes a guide for those wishing to buy over the phone, online or in person, and you should note that, as a commodity, it is subject to capital gains tax. Dealers sell bars varying from one ounce to 100 ounces or larger, or you can buy gold coins - if you can find them. "We can't buy any more coins," says the spokesman for Baird and Co. "There are no sellers, only buyers right now."
Many people choose to invest in exchange-traded funds or buy stocks in gold mining companies. However there may be transaction fees, and an added risk of volatility. You could cut out the middle man and stash your gold at home, though it's worth considering the extra insurance costs - and the added lumpiness to your mattress. From a financial point of view, there is little point in panic-buying jewellery - you will pay extra for the craftsmanship, and the metal will be less pure than investment-grade gold.
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