Types of investments: Banks are to face tougher rules the Governor of the Bank England warned this week.
In his Mansion House speech, Mark Carney, said that City traders could go to prison for a decade if they abuse markets. He pledged that this was the end of “the age of irresponsibility” that had dogged the financial sector.
Even with stricter penalties, it will take the general public a long time to trust the sector again. For former Northern Rock and RBS customers, it could take longer.
So what alternative types of investments are available if you do not wish to put your cash into banks and building societies?
Gold could be worth seriously considering.
The precious metal has always been thought of by many as a reliable and safe investment.
Traditionally gold has performed well and its advantage is that individual governments – or other institutions – can not manipulate the price of gold.
Gold Investments makes live and historical gold prices available on its website in a clear way.
There are also very few places where the precious metal is not accepted as a form of currency. It is worth noting that Britannia gold coins and Sovereigns are exempt from capital gains.
For investors such as – Jim Cramer (worth around $100 million) – gold should be part of any investment portfolio. He believes portfolios should have no more than 10 to 15 stocks and consist of high-yielding stocks, healthy geographical stock, speculative stocks, and gold.
Investing in gold does not necessarily have to be a huge cost. Gold Investments, for instance, offers gold bars and gold bars to suit most budgets.
To find out more about where to start investing in gold get in touch with Oliver Temple for a friendly chat.
For those still with a mistrust for the banks, now may well be the time to look at alternative types of investments such as gold.
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