Goldcore new gold regular saver account

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patrickjd

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I notice that GOLDCORE have launched a new GOLD SAVER ACCOUNT.
It is a Regular saver account which invest in physical Gold bullion with monthly investments starting from EUR 150 per month.
It seems to charge storage of 1% per year and if you encash your holding (the minimum participation period is 12 months) the commision is 2%.
Whats the concensus on this account? Is it too late to join the Gold rush? Are the costs too expensive?
 
I too am hesitant about jumping on the gold bandwagon although from what I see on Bloomberg or CNN in the morning, I think the Euro has a lot more downside ahead. The gold saver account does not appeal to me because you can only get a small investment each month as gold, if analysts are correct, continues on an upward path. Seems a lot less potential for upside gain this way. slim
 
Slim said:
I too am hesitant about jumping on the gold bandwagon although from what I see on Bloomberg or CNN in the morning, I think the Euro has a lot more downside ahead. The gold saver account does not appeal to me because you can only get a small investment each month as gold, if analysts are correct, continues on an upward path. Seems a lot less potential for upside gain this way. slim
Click to expand...

This is from the Goldcore website:

"The minimum investment is €150 per month, with options for €250, €500 or any amount greater than this."
 
patrickjd said:
This is from the Goldcore website:

"The minimum investment is €150 per month, with options for €250, €500 or any amount greater than this."
Click to expand...

I think that the GS account is aimed at the smaller investor who cannot stump up the minimum €12k investment, at least that is what was said on the Mooney show yesterday by a guy from Goldcore.

More importantly, I think the gradual investment as gold rises leaves little headroom for gain.Slim
 
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patrickjd said:
Fair point. I was looking at it more from a diversification viewpoint.
Click to expand...

I should point out that the contrary to my view above would be the advantage that regularly paying into a gold fund would enable cost-averaging. According to FT.com there 'may' be a fall off in gold prices in the short term followed by a pick up again as a reaction to deflation in europe and the 'quantative easing' or printing of paper currency.

Choices, choices choices!!! slim
 
Looks like a nice investment/ saving product for those wanting to invest/ save in gold in smaller amounts. Safer saving in gold than in euros in Irish banks today.
Two risks - one is from a sharp fall in the euro and the other is from the government guarantee scheme expiring soon. Not to mention Dan O'Brien warning of a 25% chance of Ireland going bankrupt. Dan is no alarmist or doom monger. If Ireland becomes insolvent than the "government guarantee" will not be worth the paper it is not written on.
Good article by the excellent editor of Money Week, Merryn Somerset in the FT last Saturday: PERSONAL FINANCE Merryn Somerset Webb javascript:void(0); Financial Times -
'The Only Currency That Can’t Be Printed On a Whim'
http://www.ft.com/cms/s/2/d6a8da26-64fd-11df-b648-00144feab49a.html
 
Hi all

I am looking at this product as a way of investing maybe 200-250 per month in gold. Has anyone any experience of the product?
 
im trying to find out exactly what the charges are on the gold saver account 150euro a month thats 1800 after 12 months how much do gold core take?????????? any know please give me figures not percents
 
perhaps answering a SIMPLE question is not suited to you i think most calculators have a percentage button
 
Perhaps read more about gold in general before investing in something that may appear too easy.


w ww.ritholtz.com/blog/2014/01/bitten-by-the-gold-bug-some-lessons/
 
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