I am no inverstor per se (actually I am still a student with no money) however I do know that inflation is rampant at the moment and to hedge against that I intend to buy gold. Moreover, I see gold going 4-5 fold of what it is now against the dollar.
My aunt gave my £500 ($1000) worth of shares that I am planning on selling to purchase gold.
Thing is, how would I go about buying $1000 gold? Would I buy the physical form? Such a small amount surely wouldn't be enough to be given a certificate and have it stored somewhere safe right?
I do not know if buying gold is neccessarily a safe way to go about batteling inflation. Inflation is usually stabilized or conterbalanced by an increase in wages. Also Bretton Woods and the age of the Gold Standard are long gone. Even though countries hold gold reserves, it would seem a bit unneccesary to hold personal gold reserves unless you're in a country with an unstable currency. With the pound rising so much against the dollar there really isn't much to worry about on your side. It might be better to find a savings account with a high return rate to let the 500 grow overtime since you're still so young.
How on earth do I buy gold?
