Topic: Deposits-in the bank or in gold? - page 2. (Read 1391 times)

Before the Nixon era money was backed by gold, therefore you could have just held cash and that was technically worth a fixed amount of gold per dollar...we're far from that age now.

Buying gold is a fine idea for store of wealth, as it is a store of value asset. I do think that Bitcoin is the better equivalent though it does generally have the stigma that it is not as reliable as gold in the event of an energy/technological fall-out.

I wouldn't recommend buying and storing gold if:
- You will need to make it liquid again within 12 months (might as well use Bitcoin in this case)
- You can't securely store it, or you'll entrust someone else to.

I prefer Bitcoin though that doesn't mean gold too can't be used to beat fiat money deterioration/inflation.

normally I wouldn't post, but after seeing what OP wrote I couldn't resist and I have to make this post of mine, when OP says banks can fail he's right, but he's forgetting that gold can also be stolen, a thief can get in at OP's house and stealing all OP's gold, at the bank they can also steal OP's gold, so there is nothing that doesn't have a disadvantage, it's unbelievable how certain people still think, demonizing banks and putting the advantages in gold and Not to mention the disadvantages of gold is also wrong. who said gold has no downside? even bitcoin also has disadvantage. people need to understand that banks are never going to go away, they are here to stay for many long years to come.

the most important thing is to live well with everything, be it banking, be it gold, be it bitcoin. there is no need to demonize one thing and put another thing as if it were superior when in practice both things work. it's enough for OP to think: buy a gold bar worth 1 million dollars and hide it, then OP dies and nobody knows about his gold and his children are in need. so in this part the OP's gold had a disadvantage. but if OP had left 1 million dollars in the bank then OP's relatives would be called to the bank to take the money. the bank has its advantages and disadvantages

Currently the inflation is increasing by the speed of horse. In this situation, instead of keeping money in the bank, I think it is better to save your fund in some other way. Because holding money now means the value of your fund will gradually decrease. So in this case I think gold can be a better option to saving your fund. Even then you don't earn interest from them. Because the more inflation will increase the more your gold price will increase. And since the banks are also going bankrupt now, I think holding gold to myself would be better than keeping it in the bank. Because security First

Yes, that's right, if I may add, individual tendencies in making choices for deposits depend on experience and a thorough understanding of these two things, bank deposits or gold. Both certainly play a role of different risks and different benefits. However, minimizing all forms of losses is the goal of the deposit itself and vice versa, taking a larger profit margin is what we want.

In my opinion, all forms of deposits have risks, therefore risk management is very important, and determining the future goals in deposits before making a decision is a matter of wisdom. By paying attention to these two things, I think we can determine the results we will achieve in making bank deposits or gold. There is also nothing wrong if we try to balance between the two, meaning combining the two into a strategy to reduce risk and increase profit margins within a certain period of time.

With the current interest rate environment it seems like savings in the banks (at least the ones passing along the interest rate from the central government) is the way to go. Gold is highly unpredictable so while it might be fine for rich people with a lot of slack in their investment portfolio, to put say 5% of their wealth into these sort of "alternative" investments, if you want your money to perform in the long run you need something more consistent. Many people will actually be taking money out of the stock market right now because it makes zero sense to have money at risk earning 5% when you can have almost zero risk bank saving accounts at the same amount.

of course choosing to collect gold rather than saving money in the bank, but at the bank we also have to have a balance in anticipation of a sudden need. The choice of gold here is because by saving in the form of gold it is hoped that later the price will rise, it is different in banks where even though they get interest but not how much. moreover, gold has also become an investment tool for everyone, so it is still said to be safe, especially if we buy it in physical form. So, when I was a child, I was advised to save money so that we would be lucky later, now that slogan is no longer valid

If you compare it to BTC, it's definitely a different story. if the comparison is only money and gold, which is better if it is stored automatically is gold, which has been historically practiced and proven to be superior in various ways. the difference is that if you sell gold, people are still thinking about it, because the way to get it, you have to collect money little by little, then buy the asset. But, if the money is different, it feels like you need to withdraw.

In my opinion you should invest in gold. Because, usually the interest rate in the bank is low which means we usually get less interest from the bank. And you will always get lower interest comparatively due to current worldwide inflation. And now some banks are going bankrupt. You invest in gold for a long time. Gold is always a low risk investment. Because the value of gold is always high despite the inflation around the world. If you invest long term in gold, you can profit. And it will give you higher return than the bank.

Gold is actually a good long term investment so if you're planning to save money then it would be better in gold than bank. Not only the bank would benefit from you but also you've gained nothing as you just stored your money. I think it would be better to invest by just buying not on the bank to avoid many fees and transactions which is hassle.

Gold will give you in a very short while what money in the bank will never give you even after 15years of depositing your money with them, the bank would rather take from you in the name of charging you for unnecessary activities

Yes, the market is progressing, but everyone decides where to invest. Of course, there is no more reliable crypt.

Gold is still in a good category even though its exchange rate has not grown much, because it can also help you not to lose in life. Meanwhile, deposits are ordinary savings that you don't expect any profit from, but for crypto I think this is another option from the two you mentioned, which everyone must understand the risks. Even though the benefits can be many, the risks are also not small, so this requires better consideration before choosing it.

Admittedly, investing in cryptocurrencies is a bit more complicated than in traditional assets. But to be safe and give a higher return on investment, I think everyone should know about crypto, no matter how hard it is to learn.
And I want to reiterate, whether it's gold or cryptocurrency, we should diversify, not focus on one asset class, it's very risky for us. It's not just about value risk if one goes wrong, but also about other potential risks like theft or hacker attack. Besides being able to reduce risk, diversification is also a way for us to have the opportunity to increase the return on our investment. Gold is safe but quite stable, so the returns will be negligible, while bitcoin is quite risky, but the returns are substantial. Therefore, allocate and balance your assets in the most optimal way to bring the highest efficiency.

So true. And it looks like OP really wants to keep his money as savings. but he also still wants the value to be maintained and not affected by inflation. So buying gold might indeed be a solution if OP intends to maintain the value of his savings and avoid inflation. But if the OP wants to make his assets grow every year then I think he can invest in something that has an ever increasing value over time like land property and such.

That's my method of investing in gold, less hassle less fee when it comes to buying gold itself without the bank that causes your investment interest and fees. It's literally depends on the convenience to one person. If they find gold investment much more better than in the crypto since it involves complicated techniques for newbie to understand. Unlike to buying gold where you can just buy physical gold then hodl it for a long time where it could worth a lot. But for me it would be better to explore more alternatives why not do gold investment and try also the crypto investment for you to know what suits for you funds and your skills.

the gold exchange rate is not growing much, deposits also have no profit. Buy crypto and try to work on it.

Exactly, if someone wants to hold gold, it is best to buy physical gold and keep it in his safe. Never deposit gold in a bank for interest, it's no different than we deposit with fiat because what we get from them is just a piece of paper with numbers. But in this case, I would like to add a proposal, in addition to gold and banking, we can add bitcoin. If you are not comfortable buying physical gold to store at home, you can use bitcoin because it is much easier to store bitcoins than gold. But diversify, don't focus on just one asset, no matter how good it is.

I suggest noone to hold their gold as assets in bank accounts. Those are lil bit scammish. Honestly saying. I observed there are bank that permits you to withdraw real gold in my country. But there are only 2-3 banks and there are huge limits (waiting for a week or month or something). I think best thing you can do to buy real gold issued by your local company. There is one gold/silver producer in my country so nearly everyone buys their gold and silver from them. Its called "nadirgold". I can safely suggest them if you are Turkish or visiting Türkiye as tourist. I am not well informed with American companies.

Ain't this a fine mess we've landed ourselves in! Your breakdown of our financial terrain got me giggling and puzzling in equal measures. Picture our economic structure like an everlasting game of musical chairs, with the tune never hitting pause, and fresh seats springing up! The capitalist promise feels more like a bedtime story these days. Formerly the protector of the ordinary Joe, it now seems like a private party for the big shots. Can we escape this convoluted maze? Cue: Bitcoin.

Our dear Satoshi must have wielded some divination device, foreseeing the impending storm and blessing us with this cybernetic safety raft. But let's ponder over this. Will it be our knight in shining armor or merely another platform prone to misuse? That's a brain-teaser that steals my sleep. About the timeline you asked? Well, buddy, that's anybody's shot in the dark. But this much is certain; we're strapping in for one rollercoaster of a decade!

only if you buy a piece of jewelry, immediately after the purchase it drops in price. There is nothing better than crypto. Deposits with small percentages are all.