I want to buy Gold? How do i do it?

Question

Im a young college student who would like to put my money in Gold. Whats the best way to do this?

Answer 1

"I want to buy Gold? How do I do it?"

Open an investment account at Scottrade and buy GLD. Every stock and fund has a symbol. GLD is the symbol of the Gold exchange-traded fund. Buying 10 shares of GLD, which right now would cost you about $650, is the same as buying 1 oz of pure gold.

If you open a Scottrade account, they'll give you an account number and password, so you can log in to your account anywhere and check your balance and buy stocks, funds, gold, silver, oil, etc... with just a few clicks. The advantage of buying GLD is that you can sell it anytime anyhwere. If you have real gold coins which you keep in a safe box, you can't sell them anytime.

Each time you buy or sell a stock or fund, Scottrade will charge you $7, which is cheap, because other brokerage firms will charge a lot more for a simple transaction... (It doesn't matter how many shares of GLD you buy. It's going to cost $7 each time you buy.)

Answer 2

Buy the stock (actually an ETF) of GLD. It tracks Gold prices.

Answer 3

1

Answer 4

if you buy it in coins then you are paying a hefty commodity tax on them. ETF's are better GLD is the popular one but I like DGL as well. And dont forget about the mining stocks.

Answer 5

www.kitco.com - is the easiest way - plus you get real gold not a certificate. Dont buy the American eagles - buy the Canadian coins - higher pct gold and cheaper. buy now -

Answer 6

Sounds weird

Answer 7

I was on Y Answers for something else, but this topic was displayed on the sidebar...