Gold Investment?
September 18, 2009 by
Filed under gold investment
Which way is good to invest in Gold, is to buy gold coin, gold certificate, where to buy gold in the bank?? coin or certificate pls tell me more about this, thanks
Investment Advice for the New Economy
September 18, 2009 by
Filed under gold investment
Which way is good to invest in Gold, is to buy gold coin, gold certificate, where to buy gold in the bank?? coin or certificate pls tell me more about this, thanks
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Neither. I’d recommend you buy a mutual fund that invests in gold and other precious metals.
gld is the sym for gold…banks do not sell it…scottrade.com is a good brokerage house…most all the gold is already mined! shortage on production! plus demand is high!= higher prices
I would stay away from gold. Remember what happened with housing? Everyone rushed to it when it hit its high and they all got killed right after. Gold has for 20 years stayed around the 400 dollar mark and it will return. If you look at how much value the dollar has lost in the last year and compare it to gold prices, then Gold should be worth a MAXIMUM of 600 per ounce, and more likely it will go back to mid 500s where it is supposed to be and once people who bought at 900 or 1000 see gold drop to 800 they will all sell and push it back to the 500 range.
It is best to buy physical gold coins (such as American gold eagles) as the accounting standards for many gold certificate programs has recently been called into question. A few reputable dealers are linked below.
the answers above are good. I’d go with the ETF for gold, (gld) ETF= exchange traded fund. GLD is a fund that mirrors gold prices. If the price of gold is $937. per ounce, the price of gld will be $93.70
the advantage is a ready market and a very fast buy or sell and if you buy physical gold, you will pay a premium for the cost of the coin.
the problem with gold funds, you are buying the stocks of several gold mining companies, and they may not be making a profit even though the price of gold is way up.
I’d have to agree,, Scottrade would be a good place to buy and sell an ETF like GLD,, or a mutual fund, or stocks, etc.
GLD is an ETF backed by actual gold. It tracks the price of gold without a lot of the costs and risks of physical possession.