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Thread: Buying Gold

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    Veteran Member RyanXO's Avatar
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    Default Buying Gold

    I am looking into using some of my savings to invest is some gold. Has anyone done this? How can I go about buying some from a reputable place without being scammed? Any info is greatly appreciated!

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    Default Re: Buying Gold

    Buy physical gold, always. If you do it online use a credit card so you can contest it if you get ripped off..my father lost his life savings getting conned trying to buy gold. I like going to private coin dealers a lot better than online BUT Austin coins has served me well in the past. I can pm you their number website or whatever if you go that route.
    Gold is great but I'd also invest in silver, it is really under appreciated right now and you can buy cheap

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    Veteran Member RyanXO's Avatar
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    Default Re: Buying Gold

    Thanks that would be great!

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    Default Re: Buying Gold

    Just so everyone knows, when you buy an option on gold and exercise it, you can actually opt to take delivery.
    Where Am I? Missing NYC

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    Default Re: Buying Gold

    I don't know anyone who buys into gold these days..

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    Default Re: Buying Gold

    ^^gosh the commodities exchanges sure are doing a healthy business for no one to be buying gold.
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    Default Re: Buying Gold

    The easiest way to invest in gold is probably a gold ETF.

    http://www.spdrgoldshares.com/

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    Veteran Member RyanXO's Avatar
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    Default Re: Buying Gold

    Quote Originally Posted by Camillauk View Post
    I don't know anyone who buys into gold these days..
    I don't know why more people wouldn't. Obviously I don't believe it is a get-rich-quick scheme but I would much rather have some of my savings invested in gold than just sitting in my bank making me 1$ a year interest.

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    Default Re: Buying Gold

    Yes true, I have been doing research lately and I am now thinking of buying a couple of gold bars for $499 - 1k and store them in a CD. I found a shop which is about a hour from me and they have a website where they sell coins, gold, silver etc.. for investment. How much do you think you will spend on it? x

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    Default Re: Buying Gold

    I invest about 20k into the Roth IRA/retirement plans a yr. Not sure if it's wise or not, but that compound interest though. Perhaps a bit lazy too.

    I don't plan on using it for another 35-45 years though

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    Default Re: Buying Gold

    FWIW some of the "Gold Stores" you see are using credit to buy up as much gold as possible.

    I had a client who claimed having gold assets saved his grass during the 2008 financial meltdown BUT this guy had a stable career plus a lucrative 2nd career. I could not be sure if he was just parroting info that seems popular among super-right-wing types, OR if he did make a bunch of $ on gold.

    I'll repeat advice my millionaire uncle gave me 15 years ago - tech stocks (back then it was called the QQQ) public utility stocks, and then any investments you want to really want to get behind. Investing IS legal gambling.

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    Default Re: Buying Gold

    Gold does not pay dividends. Gold does not pay interest. Gold's value is perceived. Gold may be hedge against hyper inflation, although guns and ammunition might be just as good, and a garden might be better. Gold can pay a dividend if you buy a Gold fund, which is really a fund of mining company stocks. But, if that's you investing interest, there are lots of mining funds and energy funds that pay better dividends and are a lot less volatile. I suppose some successful investor, somewhere has some gold or gold funds in her portfolio. But, I've yet to meet her, or him. I prefer to invest in issues that actually make things that people need. I know a couple of industries very well. I know the businesses in those industries, I study their management, their business plans, I watch their shareholder meetings, I read their financials, I invest with a buy and hold strategy. That has paid off well for me.

    Just my two cents worth,
    Z

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