Gold pops above $3k/oz for first time in historic safe-haven rally

reuters.com

15 points·Luka78··5 comments

For decades now gold has been pushed as an investment opportunity, but I've never stepped in; I can theoretically go and buy gold, but since I'm a consumer, I pay 21% VAT on top of the sale price, which is already gold price + the seller's profit margins. And when selling, I doubt I'd get the current gold value for it, but below because the broker wants their share. So the value would need to go up at least 2x for it to become a viable investment (so I'd have had to buy in 2014 at the current rates), and then the question is whether there are other investments that would've had higher return on investment in that time period.

If you had bought gold in the late 1970s you are still down in real terms. Gold is a meme, not an investment.

When you say "VAT" I assume your are in Europe? Aren't there ETFs in Europe that allow you to own gold that wouldn't required VAT payments?

In the US we have GLD and others that let you do this.

Also apparently in Europe and the UK there are "investment gold" coins that are exempt from VAT:

https://op.europa.eu/en/publication-detail/-/publication/932...

https://www.gov.uk/guidance/investment-gold-coins-and-vat-no...

In the UK, at least, gold coins and gold bars benefit from a special tax status which means that they are exempt from VAT

Certain coins, such as the Gold Sovereign in the UK are classed as legal tender and as such are exempt from capital gains tax

Inflation-adjusted gold chart: https://www.gurufocus.com/economic_indicators/4534/inflation...

Reply on news.ycombinator.com