Buying Gold

Russinating

Russinating

Russinating

Soldato
Joined
27 Dec 2005
Posts
17,316
Location
Bristol
I'm off to Abu Dhabi & Dubai in a week or so and am keen to buy some gold for investment. I've always liked the idea of owning some physical gold as an investment and UAE is supposed to be one of the cheapest places in the world to buy it.

It looks like I can probably afford a modest 1oz/50g based on online UK bullion prices, but is there anything I should be looking for in particular?
 
In Abu-Dhabi there's a great dealer called Fred who works at the Flynn Stones jewellers, it's in a place called the Dhu. Just get a Taxi at the Airport and tell them Fred, Flynn Stones, Abu Dhabi Dhu. Tell them doof sent you. :)
 
doofer said:
In Abu-Dhabi there's a great dealer called Fred who works at the Flynn Stones jewellers, it's in a place called the Dhu. Just get a Taxi at the Airport and tell them Fred, Flynn Stones, Abu Dhabi Dhu. Tell them doof sent you. :)
Click to expand...

i see what you done there ;)

buy as much as you can, but you cant bring it back.

so leave it there as an investment. i suggest Fred........see above
 
doofer said:
In Abu-Dhabi there's a great dealer called Fred who works at the Flynn Stones jewellers, it's in a place called the Dhu. Just get a Taxi at the Airport and tell them Fred, Flynn Stones, Abu Dhabi Dhu. Tell them doof sent you. :)
Click to expand...

second that! down to earth prices and wont try to sell you any gold plated stones :D
 
doofer said:
In Abu-Dhabi there's a great dealer called Fred who works at the Flynn Stones jewellers, it's in a place called the Dhu. Just get a Taxi at the Airport and tell them Fred, Flynn Stones, Abu Dhabi Dhu. Tell them doof sent you. :)
Click to expand...

Nice one, made me genuinely laugh
 
Buy rings/necklaces then wear them back. Make sure it is as pure as it can be and it's not mixed with any other metals, with a higher ratio to that of the gold.
 
Dubai / Emirates Mall has gold ingot vending machines. No joke. Not sure how much they were though, probably didn't have enough to bother looking!
 
Made me think of this :D

http://craphound.com/images/or2dv.jpg

or2dv.jpg


MW
 
You will pay over spot price on gold in every country, so you will probs not get a better deal than if you bought it from the UK. Remember gold cannot be taxed, that includes VAT... (well it can if you live in the UK) So the prices on goldline for example will be similar to any other gold retailer in any country.

If you buy it make sure you get it weighed before you hand other your cash. 1 Troy oz is 31.103 grams (some coins will weigh a bit more depending on the mint)

Best coins to get in terms of most respected mints are:
Canadian Maple (regarded as the best mint)
American Eagles
South African Krugerands
Australian kangaroos, nuggets and koalas
Chinese pandas (usually have high premiums)
Britannia's (these have high premiums i would avoid these)

You might have some issue bringing back a bullion coin back into the UK. Officially the UK only recognises Britannia's as 'tax exempt'. I believe they may stick a 5% tax on any no britannia gold coins which would be around £50-£55 at current prices.

Google my name is you want a gold tracking app for iOS :-p
 
I would also recommend sovereigns or britannias. As coins of the realm they are free of capital gains tax. Local auctions can be good for picking up sovereigns (often at or just under spot even after taking buyers premium into account, and VAT free).
 
Not that I know anything about gold investments, but my stepfather bought gold Sovereigns when we went to Jordan. Went around the souks for ages shopping around, haggling, etc, so he knew exactly what he was after.

P.S. Thought this thread was World of Tanks-related :p
 
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