Where is the best place to buy physical Gold and Silver in the UK?
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I'm looking to buy some physical Gold and Silver in the UK, but I'm wary of internet stores (seeing that every shady business is cashing in on high gold prices right now) and I don't know where else to look. I'm obviously looking for the cheapest possible price and I know that buying precious metal contracts is cheaper and (apparently) more safe, but I know they have been short-selling both Gold and Silver by huge margins, so physical is the only way left to go. Any ideas of where to start?
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Answer:
zero at Yahoo! Answers Visit the source
Other answers
A jewellers. Oddly, you may also find that the people advising you of market manipulation still want to sell you their stocks of physical precious metals. Futures contracts are leveraged investments and can end up costing you your shirt if they reverse on you. And options expire and can become worthless. You might want to consider buying a physical exchange traded commodity (ETF) that is priced in pounds for example PHGP listed on the London Stock Exchange. Or invest in gold mining companies
R. Stornaway
You didn't specify how much of gold you want to buy. If i am not mistaken, you are looking to buy gold & silver bars. If you look to buy small bars in terms of just few grams, i think there is a gold vending machine that you can find in the big malls in London. Use your cash or credit card to pay for the gold. The gold is a real gold. No need tp worry about it. Some machines are called "Gold to Go". The price of gold is in real time and is updated every 10 mins. So, you pay exactly the same price as in the metal exchange. This is cheaper than buying from jeweler. But if you look to buy in ounces or big amount of gold, i think the safest place is to get those bars from banks such as UBS bank. Remember, if you are thinking of keeping the gold in the bank (after buying it), you need to pay some fees which can really be expensive. Some charges 1% a year of the gold value..
David Junior
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