Say I want to invest 10% of my gross earnings annually in Gold.
What is the best most viable form to invest in? Example: Coins?
2006-12-21 06:36:41 · 6 answers · asked by scottanthonydavis 4 in Business & Finance ➔ Investing
How about going straight for the stuff? Consider the ishares ETF for gold: IAU. If the price starts falling, then simply sell out. If you start making a profit, then sell a few shares now and then to get your extra cash (don't for get the tax man) from time to time. Another way is buy into gold mines. I've had a few: Newmont Mines, Richmond Mines, and Liberty Star Gold. Newmont made me a few bucks, Richmond was essentially neutral (they closed a field, but opened a field). As for Liberty Star, they've got a pile of mining claims but no mine. Mark Twain reputedly said of gold mines, his losing investment history was legendary, "It is a hole in the ground surrounded by liars." So if you go that way, stick with those whose proven reserves and on-going production continue to make them profitable--like Newmont or Richmond (and there are piles of others).
2006-12-21 07:03:32 · answer #1 · answered by Rabbit 7 · 0⤊ 0⤋
Best way is to buy a gold ETF. It will have the least expenses and the most liquidity. If you want to buy or sell, just call your broker and it's done in seconds.
Other alternative is coins, but then you have to keep those and it's not that convenient.
2006-12-21 07:01:23 · answer #2 · answered by gauravpatel 1 · 2⤊ 0⤋
For my money the best way is to invest in ABX, a large and profitable gold mining company. Another option would be to invest in GLD which is an index fund holding gold for your account. Do not buy coins. Too much retail mark up and wholesale mark down and then there is the safe deposit box annual fee to keep them in.
2006-12-21 06:42:30 · answer #3 · answered by Anonymous · 0⤊ 3⤋
some say gold stocks but if the dollar falls in value then even gold stocks will fall since they are dollar-based entities........so solid gold would be the way to go.....buy a solid ounce at a time......gold will have to reach $2,000 an ounce to reach it's former (inflation adjusted) high, so plenty of room for it to run even now..
and SD boxes at the bank are cheap enough.....
2006-12-21 20:58:39 · answer #4 · answered by Sizzle Pizzle 3 · 0⤊ 0⤋
buy some gold coins
i wouldn't buy it right now tho..prices are too high
2006-12-21 06:53:05 · answer #5 · answered by precious02k 3 · 0⤊ 0⤋
ask a leprechaun?
2006-12-21 07:48:52 · answer #6 · answered by John W 2 · 0⤊ 1⤋