ANYONE INVESTING IN PRECIOUS METALS?

  • Posted by a hidden member.
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    Oct 18, 2009 10:57 PM GMT
    WITH THE DECLINING STATE OF THE US DOLLAR AND OTHER CONCERNS, I'M THINKING IT MIGHT BE SMART TO START INVESTING IN GOLD OR SOME OTHER KIND OF PRECIOUS METAL(S).

    WHERE DO I START? ANYBODY GOT SOME ADVICE FOR ME? THANKS IN ADVANCE, DUDES!
  • DCEric

    Posts: 3713

    Oct 19, 2009 12:23 AM GMT
    YOU START BY NOT TYPING IN ALL CAPS, BECAUSE IT MAKES THE INVESTMENT BROKER YOU NEED TO CONTACT REALLY UPSET.
  • Posted by a hidden member.
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    Oct 19, 2009 12:44 AM GMT
    Thread over. DCEric wins.
  • Posted by a hidden member.
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    Oct 19, 2009 1:18 AM GMT
    I've been investing in gold for a while now. Just a few weeks ago gold reached the highest price it has ever been at $1040/oz. With the dollar having lost 9% of it's value in the since january alone , gold is still a good investment. With talk of the opec countries unpegging from the dollar in the near future, the dollar is on shaky ground, The fact that oil is traded only in U.S. dollars is what keeps the dollar strong, we arn't on the gold standard anymore. With a number of people expecting that gold may reach $2000. in 2010, even at it's current price it seems to be a good investment. A couple of the places I use for my investments is goldline.com and Rosland Capital, it's a good place to start. Do a little research and check into the risks, it may or may not be for you. Good Luck.
  • HndsmKansan

    Posts: 16311

    Oct 19, 2009 1:24 AM GMT
    The investment in precious metals is certainly considered to be an aggressive form of investment. I don't do so for my clients, except as a part of a mutual fund option (have a few of those). While gold is certainly doing well at the moment, all markets have cycles.
  • camfer

    Posts: 892

    Oct 19, 2009 1:40 AM GMT
    A couple more sites to check out.

    http://www.kitco.com/

    http://www.kitcosilver.com/

    Don't look at collector's coins as a precious metal play. Here I am talking about coins worth more than the weight of their precious metal content.

    Look at 1oz coins, bullion, rounds, and bars. You don't necessarily have to take delivery. You also pay a pretty big premium to buy and sell this stuff, so it's not a beginners investment. And if you do invest, check your statements monthly. A friend of mine had some silver "disappear" from his statement. That took a while to rectify. Not sure who that was with.

  • Posted by a hidden member.
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    Oct 19, 2009 2:41 AM GMT
    I'm assuming that gold is doing well. There seems to be an increase of those "cash for gold" services.

    I think platinum hasn't moved much. Theft of catalytic converters has decreased in recent time. icon_lol.gificon_confused.gif
  • Posted by a hidden member.
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    Oct 19, 2009 3:13 AM GMT
    I have 37.5 million in Nazi gold I won from Hitler in a game of Tittely Winks.

    I also have 78,543 bricks of gold pressed latinum I won in a game of DomJot from the Grand Nagus.
  • Posted by a hidden member.
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    Oct 19, 2009 3:16 AM GMT
    DCEric saidYOU START BY NOT TYPING IN ALL CAPS, BECAUSE IT MAKES THE INVESTMENT BROKER YOU NEED TO CONTACT REALLY UPSET.


    Those Investment Brokers seem to be a MOODY bunch.
  • styrgan

    Posts: 2017

    Oct 19, 2009 3:30 AM GMT
    It seems that with the ups and downs of the economy, gold, silver, and Apple are on a pretty stable uptick.

    If you don't have the stomach for actual gold, you could try a gold miner like Yamana (AUY). I bought some around 6 last year and it's been hovering in the 11-12 range over the past two weeks. I don't know if I would buy it at 12. Wait until you see a correction in the markets.

    There are also of course other miners who deal with precious metals you could try investing in. Do a bit of research.
  • Posted by a hidden member.
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    Oct 19, 2009 3:43 AM GMT
    I agree with shybuffguy. In addition to his viewpoints, we will likely have hyper inflation next year due to massive government spending today. That will put upward pressure on the price of gold. Other ways to invest in gold would be to purcahse an ETF (electronically traded funds). You can learn about ETF's here: http://www.etftrends.com/ Also go to Yahoo Finance section. An ETF that tracks the price of gold is GLD. An ETF that tracks gold mining companies is GDX.

    You asked for other options. I am not an investment adviser. You need to do your own due dilligence. Here is a good place to start: http://seekingalpha.com/

    ETF's I like include anything in Brazil including EWZ and BRF. Also emerging markets like EEM. Many investment advisers are now recommending an increase in the per cent of foreign investments. The BRIC countries of Brazil, Russia, India and China are a good choice.

    Remember, do your own research.

    Hope that helps.

    Cheers
    Jim
  • MikemikeMike

    Posts: 6932

    Oct 19, 2009 6:27 AM GMT
    I have some investment in AUY- stock symbol. My advice is on this topic is as follows: It is never a good idea to put all your eggs/$$$ in one basket. Diversify your stock portfolio! icon_idea.gifAlso your 401K if you have one.

    If you notice when the market is up normally gold is down.(normally not always). Conversely when the market drops gold increases. This is general rule not always fact.
  • Posted by a hidden member.
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    Oct 19, 2009 10:29 AM GMT
    Have also been investing in gold for the past 8 years now. However, be aware that its steady climb can not last. It will always be a great investment. But look into real estate as well. This is the best time to pick up evictees homes for practically nothing. Also railroad stocks....WOW. For example Norfolk Southern.....have been buying that up for 10 years. Rail transport is the way to go!
    Cheers,
    Keith
    icon_twisted.gif
  • styrgan

    Posts: 2017

    Oct 20, 2009 3:56 AM GMT
    MikemikeMike saidIf you notice when the market is up normally gold is down.(normally not always). Conversely when the market drops gold increases. This is general rule not always fact.


    How do you explain Gold's concurrent rally with the last 2500 points on the DJ?
  • pavid

    Posts: 1

    Oct 26, 2009 6:56 PM GMT
    My broker tells me there are things called ETF's out there, which are traded like stocks, but you're actually buying the metals.
  • Posted by a hidden member.
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    Oct 26, 2009 7:37 PM GMT
    pavid saidMy broker tells me there are things called ETF's out there, which are traded like stocks, but you're actually buying the metals.


    This being one of them:

    http://finance.yahoo.com/q?s=gld
  • MikemikeMike

    Posts: 6932

    Oct 27, 2009 8:19 AM GMT
    styrgan said
    MikemikeMike saidIf you notice when the market is up normally gold is down.(normally not always). Conversely when the market drops gold increases. This is general rule not always fact.


    How do you explain Gold's concurrent rally with the last 2500 points on the DJ?


    I did say normally not always-it has to do with, not only the weak US dollar, but other countries as well. Also the housing market as well as many other factors casn influence gold fluctuations. I don't go out and actually buy gold. I trade it on the market-son!
  • Posted by a hidden member.
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    Oct 27, 2009 10:06 AM GMT
    Meh... I don't think its worth it. The buy in rate is too high and the amount of return is not going to be realized unless we return to a modern middle-ages era. Thats the only reason why people used gold in the first place after the collapse of the roman empire. If you want to diversify your investments and portfolio look in to Ginnie Mae. My mom's Fin. Advisor has much of her retirement in them and I can tell you that that its made a very significant return. She has her account with Edward Jones and well... even in this very rough economy she's only gained and not lost. im not sure if that was because during the worst of this economic down town that it was liquid vs. being in the market at that time but either way yours truly is heading back to school because of that account. Look in to it and maybe get with an EJ advisor.
    http://www.ginniemae.gov/
  • coolarmydude

    Posts: 9190

    Nov 04, 2009 5:03 PM GMT
    Musclequest saidHave also been investing in gold for the past 8 years now. However, be aware that its steady climb can not last. It will always be a great investment. But look into real estate as well. This is the best time to pick up evictees homes for practically nothing. Also railroad stocks....WOW. For example Norfolk Southern.....have been buying that up for 10 years. Rail transport is the way to go!
    Cheers,
    Keith
    icon_twisted.gif




    Someone is definitely ahead on their game!!