Some people says physical gold is more important, I should have physical instead of paper gold. But I dont understand why.
I trade easily in paper gold, spread is low so I lose less while trading. Banking system is powerful in my country, Turkey.
Physical gold can be stolen easily, I dont prefer having gold in my home, it is so dangerous imo, thieves are everywhere in my hood
What do you think?
edit: Guys I have read all your comments but still not satisfied. You all say that paper gold is not gold itself, just a promise; so having physical gold is more trusting even there is a possibility of theft.
Maybe I understand something different when saying paper gold.
Gold account at banks such as HSBC, BNP Paribas or ICBC is really less safer than keeping the gold at home?? And even if these accounts are guaranteed by the government up to $30k in each account?
I trade easily in paper gold, spread is low so I lose less while trading. Banking system is powerful in my country, Turkey.
Physical gold can be stolen easily, I dont prefer having gold in my home, it is so dangerous imo, thieves are everywhere in my hood
What do you think?
edit: Guys I have read all your comments but still not satisfied. You all say that paper gold is not gold itself, just a promise; so having physical gold is more trusting even there is a possibility of theft.
Maybe I understand something different when saying paper gold.
Gold account at banks such as HSBC, BNP Paribas or ICBC is really less safer than keeping the gold at home?? And even if these accounts are guaranteed by the government up to $30k in each account?
Physical is better if you dont trust your banking system or gold dealer who gives you paper saying you own some gold stashed somewhere. When Greece was in trouble all banks were closed, so even if you had gold in their safe you couldnt easily get it. If you use it for short term trading then paper gold is better, cause its less likely you'll get robed, especially if you live in not so safe neighbourhood. Safest way to keep your physical gold is not talking about it. Only you should know how much you have, and where it is stashed.