Hedge of Gold to Currency

Hello,

I am wondering if Bitgold has thought about the prospects of being able to HEDGE our Gold investments back in to our local currencies.

So example would be moving our GOLD and hedging it against my own AUD currency and then switching it back at a later date should I need to or simply putting it back to my AUD bank account.

Sole purpose for me is to help reduce the risk should GOLD collapse without having to withdraw it back to my own bank account first?

Thanks.

Comments

  • GoldIsCurrencyGoldIsCurrency Posts: 1,781 Gold ✭✭✭✭✭
    @Sora No hedging as the gold account holders have is their gold. BitGold can't use others peoples property to try hedging. No need to hedge as gold outperforms all currencies over time. If you want to try and play the fluctuations that would solely be up to you.
  • jmr5djmr5d Posts: 218 Bronze ✭✭✭
    Yes, I would encourage you to see deposits into your Bitgold account as a very long term method of savings, and only put money in that you won't need to redeem any time soon. Gold will fluctuate in terms of currency -- no way to avoid that -- so it's best to only give up your currency if you're really wanting to have some gold, not just hoping to make back more currency using the gold.
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