I don't know the amount of interest you get from buying gold from the bank if that's possible but i think it is much better to buy from the open market than from the bank.
if you are afraid of banks going bankrupt when saving money then same thing can apply to the gold you bought from the bank as well. A distress bank will not exactly give you access to your gold since they are part of of the assets. Buy your gold buy your safe and secure it yourself.
Topic: Deposits-in the bank or in gold? - page 13. (Read 1391 times)
A better suggestion is gold if you are still afraid to keep savings in the bank because of inflation, but I don't think the bank will completely go bankrupt but you don't have too much faith in the bank they will still inflate the value even though they give interest every year but I don't think it's cover the losses from inflation.
But for people who are afraid of high risks then physical gold is the choice. This will be stable on a long scale. I also have some assets stored in physical gold which can be purchased at any available store. It's the only stable asset I can use when in a pinch.
Of course, what we've noticed is that now increasing investment in bitcoin is a high risk but with returns quite commensurate with what is invested over the next few years.
But for people who are afraid of high risks then physical gold is the choice. This will be stable on a long scale. I also have some assets stored in physical gold which can be purchased at any available store. It's the only stable asset I can use when in a pinch.
Of course, what we've noticed is that now increasing investment in bitcoin is a high risk but with returns quite commensurate with what is invested over the next few years.
If I may get you correctly you are talking of buying Gold as a currency to trade and hold? Just as few have mentioned banks doesn't sell gold but for some security reasons you may decide to store them over there. But practically you can change the narratives of buying digital gold which is Bitcoin and hold with this you are in possession of your asset and there's no risk of bankrupt or government in control of your assets. Digital money being bitcoin gives you more edge than fiat and it doesn't make any increase all less in a fixed deposit account.
How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?
Gold is not bought in a bank, but it can be kept in a bank for safety. You can buy physical gold from people who sell it, you'd have to look for sellers in and around your location. Gold can also be bought in the form of jewelries or accessories, meaning you can buy gold jewelries from either a shop or from people who want to sell their gold accessories. Gold could also be bought in the form of stocks, etc, just surf the internet and you'd get many other ways to purchase gold, then select that which is best for you.Having said that, banks do not go bankrupt all that often, but your money in the bank wouldn't accrue too much interest, and might also depreciate in value because of inflation. Buying gold is a great option, it is a safe haven asset/a store of value, its price does not move sporadically and it does not pump like crypto, but what you get with gold is stability and a fair ROI.
I don't know what you mean by "How is gold bought in the bank" I think banks do not have precious metals like gold you can buy gold in any jewelry shop without approval from banks.
The good thing about investing in Gold the price is pretty stable and you can hold it for a long-term investment compared to investing your money in the banks with only a small P.A interest.
However, both of them are good investments because both of them will give you profit but Gold always depends on the market value it may drop or increase in value compared to banks where you can surely make a profit from the interest.
The good thing about investing in Gold the price is pretty stable and you can hold it for a long-term investment compared to investing your money in the banks with only a small P.A interest.
However, both of them are good investments because both of them will give you profit but Gold always depends on the market value it may drop or increase in value compared to banks where you can surely make a profit from the interest.
It's true if bank deposits could be used to hedge against inflation, because the interest rate of bank deposits is higher than the inflation rate, but don't forget it's not liquid because you need to stake it for 1-10 years and there's a penalty if you withdraw it before the due date.
Investing in gold could be an option, but people in this forum including me prefer to invest in Bitcoin to hedge against inflation because the return could be higher than gold and the uniqueness of decentralization which you can't find in any other asset.
Investing in gold could be an option, but people in this forum including me prefer to invest in Bitcoin to hedge against inflation because the return could be higher than gold and the uniqueness of decentralization which you can't find in any other asset.
Since you are in the forum, I think you are aware in the cryptocurrency where you could store, invest and trade your funds. Inflation could also be good in this industry where economic issues could give good benefits in here. You've mentioned you don't prefer banks as they always go bankrupt, investing in gold is also a good alternative since gold value in a long term would be high but it's still depends on the economic situation of a country. For you to not think about the interest why not buy it straight from them so you could sell anytime?
Currently, due to inflation, keeping money in the bank is becoming a very risky decision. Some of the reputed banks of our country have already declared themselves bankrupt.
A relative of my acquaintance deposited all his savings in a reputed bank of our country. He had a lot of plans with that deposited money. But due to inflation in our country, that bank is heavily indebted and the bank declares itself bankrupt, not just limited to this, I am far from getting that relative money back, a certain amount of money is being shown in its account.
After hearing this news, he is very broken mentally. So we should all be careful that our future is not like that relative of mine. When gold is deposited in a bank, the bank may set a price for the gold and pay interest as the price of gold rises.
A relative of my acquaintance deposited all his savings in a reputed bank of our country. He had a lot of plans with that deposited money. But due to inflation in our country, that bank is heavily indebted and the bank declares itself bankrupt, not just limited to this, I am far from getting that relative money back, a certain amount of money is being shown in its account.
After hearing this news, he is very broken mentally. So we should all be careful that our future is not like that relative of mine. When gold is deposited in a bank, the bank may set a price for the gold and pay interest as the price of gold rises.
How to save savings in inflation, there are many deposits provided by the bank, but banks often go bankrupt, does it make sense to buy gold? How is gold bought in a bank and interest is issued on it?
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