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View Full Version : i want to buy gold and invest in it !


guardianx
01-19-2005, 11:12 AM
how do i go about investing in gold?? the dollar is losing value at a rapid rate i dont want to put it in t bill.

tia chad the current market price for gold is 429 usd for 1 oz

Ray Zee
01-20-2005, 07:30 PM
you are too late to the party

GeorgeF
01-20-2005, 09:38 PM
You can buy paper gold: GLD
Gold Mines: ASA
You can take physical delivery: www.kitco.com (http://www.kitco.com)

The large amount of gold in storage at central banks scares me. I think their is 30yrs supply about ground or something. You might go with silver platinium or palladium.

eobmtns
01-21-2005, 02:34 AM
Unless you are buying gold coins, you probably don't want to take physical delivery of the stuff. It can be hard to sell gold bars without your (the seller's) paying to have the gold "assayed" or certified as to weight and purity. Unless you are stocking your atom-bomb shelter you are probably ok with GLD or a gold mining stock.

parttimepro
01-21-2005, 12:49 PM
[ QUOTE ]
you are too late to the party

[/ QUOTE ]

Don't you know we're at the beginning of the collapse of the fiat currency system? All those dollar bills are nothing but paper promises backed by a corrupt government! plus the Rothschild conspiracy to hold down the price of gold is being pushed to the brink by the recent run-up. Gold shorts are heading for the hills!

</sarcasm>

Sorry, I just had to get that out. I'm invested somewhat in silver, due to its favorable supply/demand situation. The BBs that talk about precious metals are filled with this kind of crap.

Honestly, gold is not that great an investment. If you're concerned about dollar depreciation, buy a foreign bond fund or foreign small-cap equity fund. That way you have money that's not in dollars but can still earn interest or dividends or capital gains. As opposed to gold, which just sits there and soaks up storage fees.

If you are dead set on precious metals, consider silver. Each year, 50-100 million oz. more are used than are produced, with the excess coming from above-ground stockpiles. There's no great data on the size of these stockpiles (a lot of it appears to be owned by the Chinese government, which is not very transparent), reasonable estimates suggest these stockpiles will be exhausted in 4-8 years at these consumption rates. If/when this happens, the price must increase dramatically to stimulate further production and recycling.

fluff
01-21-2005, 05:55 PM
[ QUOTE ]
You can buy paper gold: GLD
Gold Mines: ASA
You can take physical delivery: www.kitco.com (http://www.kitco.com)

The large amount of gold in storage at central banks scares me. I think their is 30yrs supply about ground or something. You might go with silver platinium or palladium.

[/ QUOTE ]

Is there anything similar to GLD that tracks a broader sector, say precious metals or commodities?

laserboy
01-21-2005, 06:24 PM
Look into commodity indices. They invest in leveraged commodity futures tracking specified indices, while holding the collateral in treasuries.

Do your own due diligence, but I would check out PCRDX. I HIGHLY recommend reading the book "Hot Commodities" by Jim Rogers.