June 21, 2018 | 08:59 AM


09.07.2008Winners of the FatCat Gold Giveaway

So who won the gold? That's the $10,000 question. More than 22,000 investors and traders went into the draw to win the CompareShares gold giveaway.

By Toni Case

So who won the gold? That’s the $10,000 question.

More than 22,000 investors and traders went into the draw to win the FatCat gold giveaway – signing up to the CompareShares newsletter, the FatCat newsletter, or to the new social networking site MoneyConfessions.

CompareShares purchased the physical gold from the Australian Bullion Company, who in turn bought the gold directly from the Perth Mint. Investors can also gain gold exposure via listed funds (one is aptly named GOLD and lists on the Australian Stock Exchange); or purchasing shares in mining stocks such as Newcrest Mining. But why buy gold? It’s worth remembering that in times of rising inflation and turbulent markets, gold is widely regarded as a safe-haven investment. Over the past years, the price of gold in USD has risen from USD300 to a high of USD1002 a couple of months back. Indeed, some canny investors have made a dear packet on the world’s most precious commodity.

But enough about the merits of investing in gold, and let’s hear about our winners. So who are the winners of the $10,000 CompareShares gold giveaway?

First prize of $5,000 worth of gold bullion is awarded to Nilesh Patel, a paraplanner at Godrey Pembroke. “It’s the first time I’ve won anything,” says Patel, a subscriber to the CompareShares newsletter.

So what will Patel do with his bundle of gold? Store it, sell it, or give it away? “I think I’ll hold onto it for a while and wait to see how gold tracks,” says Patel.

Patel initially subscribed to CompareShares for the trading news, he says. “It keeps me up to date with latest news and trends,” he says. “I like Anthony Black's broker recommendations,” which he says gives him an insight into how brokers and analysts’ view particular stocks.

Runners up to the CompareShares gold giveaway received $500 worth of gold from the Australian Bullion Company. Ten runners up received this prize.

Colleen Curran, a subscriber to money site FatCat, is one of the 10 winners. “You have no idea how exciting this is,” she exclaimed when handed the good news.

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