Gold, the real thing not certificates, is being more widely held. Over coffee after lunch it was pointed out that its all very well holding physical gold, but what colour is it? Is there a standard colour - imagined to be yellowish - or can you choose? For some pink gold is anathema, for others a sought after and valued characteristic; certainly it was for the Victorians. Others are fond of white gold, currently very fashionable worked as a setting for pale stones like diamonds. I can see that worked gold chains plaited into three-colour necklaces can be very lovely, or the three-colour rings in white and rose and yellow.
But au fond I like gold to be, well, golden. So what colour is it, what's left in the Bank of England after Gordon's Folly? And what colour is what is down in the bank at the bottom of the hill after we decided we'd better have a bit of the real thing tucked away for peace of mind.
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5 comments:
Depends what it's alloyed with, e.g. copper, silver. Welsh gold's a lovely colour.
Yes. The colour must come from thst, S. But who decides, and what colour is predominant? And how do we calculate fashion changes. After all, if we have a vault full of an unfashionable colour, but say Germany is doing a Jil Sander, does that get counted? Or is it all being smelted and resmelted to meet the latest demand?
Welsh gold is a particularly fine bright gold, I agree. Rare and hard to come by, though. Perhaps we should have the Bank of England's vaults full of Welsh gold only. None of Russian and South African tat. But with devolution, would that be wise?
Here's a picture of pure gold:
http://www.el-cerrito-coin-exchange.com/images/9991.jpg
Leave the Welsh gold in Dolgellau, say I - better than Firt Knox.
beware of base metals, even the prettiest of them, contaminating your gold.
For people buying physical gold, let's say £200,000 worth, I am intrigued to know
- how can you tell it's real
- where do you store it (if your gold is there to protect you against financial armaggeddon, are you sure you want to trust it to a bank which will collapse ?)
- if you store it home, how do you get it home without advertising that you have it?
By far the best way of holding gold is to buy Comex futures. With the amounts of money being created by the Fed and the BoE we are sure to see inflation starting to rip real soon now, so buying commodities or shorting treasury bonds or gilts is the perfect strategy. Gold futures have a *lovely* colour too!
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