Should I buy gold?

Casual discussion amongst spiritual friends.
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Should I buy gold?

Postby dhammapal » Sat Oct 27, 2012 8:42 am


I'm thinking of investing in gold. The Buddha's chief patron had a lot of gold. The American and European Central Banks are printing money ("quantitative easing") and I need to diversify from just cash (I wouldn't touch property or shares - there is always dana too of course). I'm not saying gold is a sure winner but is a hedge against inflation and a devaluation of the Australian dollar after the mining boom ends.

One problem is that if things get bad the government might confiscate gold. The Australian government has already introduced a mining tax which basically confiscates money from shareholders.

Can you think of any other considerations I should think of before buying gold?

Thanks / dhammapal.

PS Does anyone know of any online discussion forums on investment options run by unbiased volunteers?

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Re: Should I buy gold?

Postby DAWN » Sat Oct 27, 2012 9:03 am

Me too. :spy:
Sabbe dhamma anatta
We are not concurents...

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Re: Should I buy gold?

Postby David2 » Sat Oct 27, 2012 9:25 am

The answer from the Buddhist point of view is easy:
Whatever you buy, don't get attached to it. :)
It is not so bad if you lose money, it just means that someone else won the same amount of money.
To conclude, money is just a tool, nothing we should get too excited about.

From an economic point of view:
I'm not too deep into the matter, but I think experts advise not to spend more than 5-10 % for gold, because it is rather volatile.
They advise to rather invest the money into different investment categories, so one can minimize the risk of losing money.

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Re: Should I buy gold?

Postby Hickersonia » Sat Oct 27, 2012 11:42 am


"Holding on to anger is like grasping a hot coal with the intent of
throwing it at someone else; you are the one getting burned."

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Re: Should I buy gold?

Postby BubbaBuddhist » Sat Oct 27, 2012 1:38 pm

(1) Buy gold, and keep it in a lockbox in a foreign bank.
(2) If we become a fascist society, where the government assumes the right to seize citizen's assets--leave. Move to where you stashed the gold and live there.

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Author of Redneck Buddhism: or Will You Reincarnate as Your Own Cousin?

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Re: Should I buy gold?

Postby Mal » Sat Oct 27, 2012 2:30 pm

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Re: Should I buy gold?

Postby David N. Snyder » Sat Oct 27, 2012 5:22 pm


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Re: Should I buy gold?

Postby Kusala » Wed Oct 31, 2012 5:45 am


"He, the Blessed One, is indeed the Noble Lord, the Perfectly Enlightened One;
He is impeccable in conduct and understanding, the Serene One, the Knower of the Worlds;
He trains perfectly those who wish to be trained; he is Teacher of gods and men; he is Awake and Holy. "

"The Dhamma is well-expounded by the Blessed One,
Apparent here and now, timeless, encouraging investigation,
Leading to liberation, to be experienced individually by the wise. "

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