Deposits-in the bank or in gold? - page 7.

Similificator

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Quote from: loopes on May 10, 2023, 09:40:01 AM

There are many trust bank in the world, do not try to store your money into untrustful bank. but storing your money in bank for long term is not recommended because the rate of inflation is higher that the rate of interest that is given by bank. You have to choose inverting in gold if you want to hold your wealth for a long time without have a worry about inflation.

Of course, that is already a given.

And yes, the inflation rate vs the interest rate that we usually see banks offering nowadays makes putting your money on banks not that appealing. Which makes diversifying your investments is a better choice and putting some into gold is one of them. But the thing is, on a daily basis, it is pretty difficult to use gold in exchange for necessities and services that we need. And the same thing goes for emergencies that requires you to have money to spend fast. Which is why I told OP to "just keep an amount that is enough for you to use in your daily life plus emergencies on bank accounts and keep the rest on investments like gold, silver etc."

Alisha-k

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This 2 shouldn't even sit on the same table not to talk of being compared, gold is by far a better option than storing your value in a bank, banks don't give interest, they'd rather take from you than give you but investing in gold, you have the opportunity of making more money as the value of gold appreciate alot of times.

My opinion

posi

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Quote from: safar1980 on May 14, 2023, 04:25:21 PM

Quote from: Iadegbola34 on May 14, 2023, 02:02:33 PM

While it is possible to purchase gold through a bank, there are also other ways to invest in gold, such as through exchange-traded funds (ETFs) or physical gold bullion. When investing in physical gold, it's important to consider storage and insurance costs, as well as the potential for fluctuations in the price of gold.

It's also worth noting that while gold may be a good option for protecting against inflation, it may not necessarily generate interest in the same way that bank deposits do. However, the potential for capital appreciation over the long term may offset the lack of interest income.

Ultimately, the decision of where to invest savings depends on an individual's specific financial situation and goals. It's important to do thorough research and seek professional advice before making any investment decisions

It seems to me that deposits in banks do not save even from inflation, and when you bring gold to the bank for sale, you may be required to have many different income documents, and you will have to sell gold cheaper to private buyers. Cryptocurrencies also have a lot of risks, but then buying real estate can become a more acceptable option for preserving wealth

In a recent survey, real estate was considered the safest and most invested asset by investors in the world. But nothing is perfect or absolutely safe, real estate will also become worthless when the country has wars, natural disasters, floods...It can be said that everything has its risks, and we need to accept if that happens to us, and diversification is the best way to limit risks and maximize profits. If you have a lot of money, invest in all 3 gold, bitcoin, real estate, if you don't have too much gold and bitcoin should be an option. Limit the amount of money deposited in banks.

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Quote from: koleusdat on May 15, 2023, 12:49:22 AM

Perhaps I will put some part on gold, but here, too, the earnings ratio is questionable.

How much gold do you plan to buy? Think that if you buy small amounts you will pay a huge premium. With bitcoin you will pay less buying and selling commissions.

koleusdat

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Quote from: Adbitco on May 09, 2023, 09:32:20 AM

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.

Thanks for the answer, I decided to invest more in bitcoin than I had planned. Perhaps I will put some part on gold, but here, too, the earnings ratio is questionable.

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Quote from: lixer on May 14, 2023, 05:02:28 PM

Quote from: dmamigo on May 13, 2023, 05:27:39 AM

Invest in Gold but not at once and also not the complete amount you have in liquid. Keep some liquid funds in your bank account or do some deposits with an easy withdrawal option. But good returns will be from the Gold investment. You can also try Silver because it is giving good returns and also it keeps the potential to give a good return in the future.

Silver might provide good returns as well but Gold seems to be a better investment for the long run due to the lower risk factor and it is also more valuable and unique than Silver and we all know what happens when something has a limited supply and a very high demand, Bitcoin is a live example of that in front of us.

One can also invest in real estate if they have enough liquid to spend after buying Gold and Silver, real estate is a great investment for the long run considering the prices of properties keep increasing almost every month in any part of the world.

Just go back to what the initial option, gold or bank deposit, because silver is not profitable enough than gold. if anyone should choose between silver and gold, i am sure that gold will be chosen. so, the Original Poster needs liquid storage in bank and stable investment like gold. I think OP should make an proportion such as 30% on bank Deposit then 70% on Gold investment.

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Quote from: lixer on May 14, 2023, 05:02:28 PM

Quote from: dmamigo on May 13, 2023, 05:27:39 AM

Invest in Gold but not at once and also not the complete amount you have in liquid. Keep some liquid funds in your bank account or do some deposits with an easy withdrawal option. But good returns will be from the Gold investment. You can also try Silver because it is giving good returns and also it keeps the potential to give a good return in the future.

Silver might provide good returns as well but Gold seems to be a better investment for the long run due to the lower risk factor and it is also more valuable and unique than Silver and we all know what happens when something has a limited supply and a very high demand, Bitcoin is a live example of that in front of us.

One can also invest in real estate if they have enough liquid to spend after buying Gold and Silver, real estate is a great investment for the long run considering the prices of properties keep increasing almost every month in any part of the world.

if it's for investment i'd say gold is far better than silver, even though i may be biased but we all know that gold known for its capability of storing its value and the fact that there are many religion faith revolving around gold just add the strength of the gold containing the inflation basically going up against the inflation that eats up our wealth.
if it's for the sake of investing simplicity, investing in real estate seems like really complicated for the fact that liquidity isn't always there, investing in real estate like investing in NFT but with more utility, it's unique asset that you invested which have really low liquidity, even you'll take long time before you could sold real estate at deserved price.

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Quote from: koleusdat on May 09, 2023, 08:06:13 AM

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?

That is not how bank work and that is not how bankrupcy result. If a bank announce today that they are filling for brankrupcy, it means that their debt is more than what they can handle, their total reserve cannot settle the debts and customers they owe, so when they fill for that, all customers must be ready to take their losses, the customers may not or may have some money back, depends on the condition of the bank prior to when they announced the bankrupcy. Whether you deposit fiat or gold, it doesn't matter, gold will not protect you anytime there bankrupcy; a word of advice, avoid the bank if you can do it.

STT

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Silver is industrial, mined alongside lead it often performs like its not a precious metal but they need it for things like Solar panels as it performs better then any other metal in some ways apparently. However the extremes are even greater then gold which means its not for the light weights who might be tempted to sell on weakness because silver is often weak from what I've seen. Its also true that the speculative profits from silver is far greater then gold, it can spike and surprise 99% of the market when it does.
If I'm looking at a silver mine or silver mine owner I want to know how they will survive, do they mine copper and gold too because thats probably what they need to not run out of money while waiting for the long game appreciation. I wish we still had silver coins, they are anti bacterial and actually make sense but my way to collect silver would be buying old cutlery (its unpopular now) or something basic like that not big money for me outside of that prior idea I mention of diversity.

Commodity markets, supply demand volatility and speculative swings is how I view BTC which is why I think of them all as related tbh.

lixer

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Quote from: dmamigo on May 13, 2023, 05:27:39 AM

Invest in Gold but not at once and also not the complete amount you have in liquid. Keep some liquid funds in your bank account or do some deposits with an easy withdrawal option. But good returns will be from the Gold investment. You can also try Silver because it is giving good returns and also it keeps the potential to give a good return in the future.

Silver might provide good returns as well but Gold seems to be a better investment for the long run due to the lower risk factor and it is also more valuable and unique than Silver and we all know what happens when something has a limited supply and a very high demand, Bitcoin is a live example of that in front of us.

One can also invest in real estate if they have enough liquid to spend after buying Gold and Silver, real estate is a great investment for the long run considering the prices of properties keep increasing almost every month in any part of the world.

safar1980

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Quote from: Iadegbola34 on May 14, 2023, 02:02:33 PM

While it is possible to purchase gold through a bank, there are also other ways to invest in gold, such as through exchange-traded funds (ETFs) or physical gold bullion. When investing in physical gold, it's important to consider storage and insurance costs, as well as the potential for fluctuations in the price of gold.

It's also worth noting that while gold may be a good option for protecting against inflation, it may not necessarily generate interest in the same way that bank deposits do. However, the potential for capital appreciation over the long term may offset the lack of interest income.

Ultimately, the decision of where to invest savings depends on an individual's specific financial situation and goals. It's important to do thorough research and seek professional advice before making any investment decisions

It seems to me that deposits in banks do not save even from inflation, and when you bring gold to the bank for sale, you may be required to have many different income documents, and you will have to sell gold cheaper to private buyers. Cryptocurrencies also have a lot of risks, but then buying real estate can become a more acceptable option for preserving wealth

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Quote from: koleusdat on May 09, 2023, 08:06:13 AM

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?

Putting money everywhere is risky, putting it in a bank or even buying gold as investment or crypto is risky but it is normal because you put your money in others hand to earn interest and earn, for me investing gold or crypto is the best option it is also risky but if you are lucky you can get a big return from the money you capital in buying it than putting it in a bank.

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Quote from: jostorres on May 11, 2023, 08:58:39 AM

Quote from: serveria.com on May 10, 2023, 06:31:33 PM

Quote from: koleusdat on May 09, 2023, 08:06:13 AM

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?

That's a weird question to ask on a Bitcoin forum. Grin

Bitcoin can't go bankrupt, it has no CEO, no board of directors, it never sleeps, it has great uptime and it can't be confiscated. Bitcoin doesn't take loans and it doesn't risk with customers' (users') funds. It's not dependent on any country's economy. What else could you wish for? Cool

What about gold? Doesn't it have the same qualities as well? There is one difference between Bitcoin and gold and it is that Bitcoin is way more volatile than gold, the price of gold doesn't fall as much as it grows over time while Bitcoin's price growth and drop speed are pretty much too high when compared to gold which makes it a more risky investment.

But I don't recommend someone buy and store gold in a bank, that doesn't really give someone an edge over inflation since it is again in the custody of centralized authorities and inflation can affect it for sure.

Not really, I mean it has some of the qualities Bitcoin has but it can be confiscated, it's a nightmare to store and transport. And you're right, Bitcoin is volatile short-term, but if we zoom out it only offers gains to long-term hodlers. And if the OP was asking about deposits he most probably is intending to keep his investment for some longer period of time.

Iadegbola34

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While it is possible to purchase gold through a bank, there are also other ways to invest in gold, such as through exchange-traded funds (ETFs) or physical gold bullion. When investing in physical gold, it's important to consider storage and insurance costs, as well as the potential for fluctuations in the price of gold.

It's also worth noting that while gold may be a good option for protecting against inflation, it may not necessarily generate interest in the same way that bank deposits do. However, the potential for capital appreciation over the long term may offset the lack of interest income.

Ultimately, the decision of where to invest savings depends on an individual's specific financial situation and goals. It's important to do thorough research and seek professional advice before making any investment decisions

spiker777

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Quote from: MFahad on May 13, 2023, 02:30:24 PM

deposit money in bank as well as gold both are beneficial and both have some sort of risks so if you want to be successful you should avoid the risk because there is no any field of saving money which has zero percent risk. Although the risk with gold is not such high because I have experienced that gold never make its investor unhappy and hopeless because when I was 14 years old that time the price of gold was 20k something but now as numerous years passed so we can see that it does not come back to 20k but instead it goes higher and higher so just choose gold instead of saving money in bank.

those who invested in gold 20 years ago and kept them until today those people are really fortunate but for now we don't know if gold price will go that much high like it did in past or not.. god price is still slowly increasing but not as much as it used to increase before..
Gold is good if someone is planning to go long term like for maybe 20 years. if you can buy gold now and keep them for 20 years you might end up in profit.

gaston castano

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Inflation can erode the value of savings over time, so it's important to find ways to protect your savings from inflation. While banks do provide deposit options, as you mentioned, it's also true that they can go bankrupt. It's worth noting that in many countries, bank deposits are insured by the government up to a certain amount, so it's important to check what kind of deposit insurance is available in your region

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Quote from: coinerer on May 13, 2023, 12:18:15 PM

Quote from: koleusdat on May 09, 2023, 08:06:13 AM

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?

Bank Deposit or Bank FD are not profitable now. Because the bank gives a maximum interest of 4-7% but every year the price of goods in the country is increasing at a higher rate, so if you keep money in the bank, the value of the money is decreasing. so now the best plan is to invest in a strong and valuable asset like gold, land etc. these will hold the value of money. If we focus on digital assets, then Bitcoin is also a solid investment asset. Here too some money can be invested.

I am not in any way advocating depositing money in the bank. as the value of the money kept in the bank decreases, there is also a lot of risk because there is a possibility of losing the money if the bank somehow goes bankrupt. But on the other hand, if you invest money in gold, the value of the money will be right and the risk here is very less. So if you compare bank and gold then it is better to invest in gold. But if you plan to make more profit then Bitcoin can be applicable but there is high risk here

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if I choose, I prefer to save gold. but deposits are not too bad if we as business people take advantage of the deposit industry. I think if we are a businessman it is suitable for deposits, but if thinking for a very long term, gold is still the best. I saved gold first but if in the future there is more money the deposit is not bad.

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Quote from: koleusdat on May 09, 2023, 08:06:13 AM

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?

Protecting our money against inflation is one of the most important challenges we face today. In many countries we have inflation rates of 7-10% for more than a year. There are a few ways how as can try and save the value of our money. Depending on the country you live in I wouldn't worry so much about bank insolvency, because our deposits are usually guarantees by the government. If you hold debt or equity of the bank I would worry more. When buying gold there are two ways to do it, physical and synthetic. If you want real gold than the bank will put it in a vault and it's also protected from a bankruptcy, but you have to pay storage fees. Much cheaper is to buy an ETC, that gives you the return of the gold price, without actually owning any. The question is if the return on your bank deposit or gold holdings is going to be enough to offset the inflation rates. In my opinion it would be better to invest in crypto currencies.

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Quote from: DeathAngel on May 13, 2023, 05:54:39 PM

Quote from: koleusdat on May 09, 2023, 08:06:13 AM

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?

You are on bitcointalk.org & you are asking if it’s best to save money in good or your fiat bank?

Seriously, dude what is wrong with your line of thinking?

The answer to your question is neither, deposits in the bank go there to die via inflation & gold is an extinct investment. Save your money in bitcoin, the best performing inflation hedge of the last decade.

What's wrong with this question? Yes, this is a bitcoin, cryptocurrency forum, but there is no rule that prohibits us from discussing things that are not bitcoin or crypto-related. Moreover, we're on the economics board of the forum, and this kind of question fits perfectly here.

Are you sure bitcoin is the best hedge against inflation in the last decade? What is happening to you if you invested bitcoin at $69k and now your asset is not eaten away by inflation from 1% or 5% of its value, but your wealth is losing more than 50% value? In the long run, bitcoin can be a perfect hedge against inflation, but in the short term, I am not sure about that. Gold is no longer good for you, but to the world, it is still the best and most trusted store of value in the world.

Topic: Deposits-in the bank or in gold? - page 7. (Read 1386 times)