How do I invest in Gold, like simple investments of 1 or 2 ounces? What scams should I be awre of with this?

Question

What is the format, whom to purchase gold ounce ect. I am extremely new at investing but I do keep my eye on the various markets.

Answer 1

If you have to ask for gold investment advice on Yahoo Answers
then this is not the field for you.
Do your due diligence elsewhere before you get into a risky speculative field like gold.
You do realize that you can lose money as well as make it.

1 Gold (oz.) = 634.960 US Dollar Monday, July 31, 2006

PS: Do NOT get involved with egold as suggested in a post below.
They are only used by online scams who can't use PayPal, etc
e-gold Ltd. Is a Nevis, West Indies company that is protected by being offshore and if and when they go south there will be nothing you can do about getting your money back.

Answer 2

Gold costs about $300 per ounce to get from the ground right now (maybe $350 after inflation since the last time I read that), and so production is certain to rise dramatically. That said, it is very possible that there will be a decades-long interest in purchasing much of the new gold as an investment. I fully expect gold to steadily maintain its value over the next decades, which is much better than what holding cash in the bank will achieve.

Like you, I at one time was very much interested in buying gold. However, I quickly found out that if gold goes up 20%, gold stocks may go up 60% or more. Gold stocks of course carry more risk because they can become worthless. However, the risk is generally much lower than the reward. I bought a gold stock, and indeed returned much more than if I purchased the metal itself. I recommend that you use a brokerage firm to recommend a gold stock to you if you are certainly interested. If you want to avoid risk, just open an e-gold account at e-gold.com. The cash you put in, in any amount you choose, automatically converts to a certain weight of gold. Just make sure you watch for the commission amounts on the website. I believe they are minimal, but don't remember well enough.

The best time to buy commodites are when the producers have to sell for a loss because prices are so low. Gold was certainly an extreme long-term loser, especially when it dropped under $300 an ounce. That was time to buy, and fortunately I did buy quite a bit.

Currently, the only non-risky investment that looks most attractive to me is corporate bonds. If you bought into stock funds about five years ago, you would have about the same amount of money. If you bought into corporate bond funds about five years ago, you would have about a quarter to a third more money.

With US credit at an extreme all-time high, investing is a very risky business right now. Invest conservatively. Investing in gold at its recent high price may not be that conservative.

Answer 3

First of all, consider that since you are new in investing, other people probably took advantage of this opportunity long before you. So you have every chance of becoming the proverbial last fool who buys right before the price crashes.

If you are still convinced that you want to invest in gold, there is no need to buy physical gold. You can buy gold futures on New York Mercantile Exchange or shares in exchange-traded fund called streetTRACKS Gold Shares (GLD), which owns nothing but gold.

Answer 4

For some top forecasts on gold’s direction, visit the site below:

I like the real GOLD nuggets.

As most gold is mined as very fine dust and tiny nuggets, the larger (over 1oz) nuggets are very rare! Actually they are as rare as large diamonds!

I would suggest you look into large nuggets!

To see the 'live' spot NY gold price and some museum size gold nuggets I suggest you visit a great site I found a few months ago. I purchase a few nuggets from them just about a month ago, and not only are they beautiful to look at but in just the last few weeks they have really moved up in value!

I'm actually saving to purchase others!

The site is:
http://www.california-gold-rush-miner.us

http://www.california-gold-rush-miner.us/australia-gold-nuggets.htm

http://www.california-gold-rush-miner.us/crystalline-gold-miner.htm
http://california-gold-nuggets-miner.blogspot.com

Answer 5

I suggest that you invest in IAU at your stock broker. The money is invested in gold and you do not have to worry about storage, etc. And, by the way, some experts expect gold to tend to $1,000 per ounce; others predict a decline.

Answer 6

Do not buy fancy gold coins that are offered by many countries.
Unless you are a collector of specific gold coins, they must appreciate in value for some time to pay for the premium cost.

You always pay a premium for the mint work, art, and design in addition to the price of the gold bullion itself.

Buy ordinary 'bars' of gold instead through your local bank at the currrent price of gold if you believe it will go up in value.

Answer 7

You find the nearest authorized dealer here...when you find it, call them and ask for a quote on a 1 oz gold eagle, NOT PROOF....if you want, tell them to lock you in right then and you have a couple days to pick it up...NOTE:If you buy quanity's of them, they may want you to pay with a check and then come back in a 5 day period or so as they clear check and order them...I HAVE never had a problem getting them this way...you'll get hooked

http://www.usmint.gov/mint_programs/american_eagles/index.cfm?action=lookup

Answer 8

There is a Gold Exchanged Trade Fund where you can buy and sell gold like stock.

http://finance.yahoo.com/q?s=GLD

Answer 9

just ask...a few sellers..(you find them in the yellow pages of your area)
and ask them the cost of buying and selling one once krugerand?
ask...the same question to all....
and...go and see them in person....
krugerand is krugerand is krugerand...
make sure it is one ounce..(stamped on it) and make sure they are real..
voila...
then put it your safe keeping.