Lux Investing
gold investing?
how do I get started in investing in gold?
Public Comments
- Hmmmmmm. Gold is pretty much higher than it has ever been and you want to invest in it? It is "Buy high, sell low"? Noooo that's not it. Hmmmm.
- LOL. The dollar value is dropping and you want to invest in gold now? BAAAAD Idea.
- In part this depends upon how much money you have to invest in the first place, (it takes money to make money). You could invest in the "Commodities" market, if you have enough money. But be very wary, the last time I checked there are only three companies in the United States that are legally allowed to deal in the "Precious Metals" commodities market. One of these is called "Monex" which is based in California and is a highly reputable company. If this type of investing interests you, I would strongly suggest you contact the Securities Exchange Commission prior to investing just to update yourself on the Companies who are legally allowed to trade in this market, (and ABSOLUTELY stay away from any others)! If you want to invest in smaller amounts, you might simply visit a local coin shop, most of these sell gold bullion in 0ne ounce bars. I would be negligent however if I didn't point out to you that if precious metals (gold) interests you, I would strongly suggest you don't invest in gold, but invest instead in silver. The reason for this is simple mathematics, maximize your potential profits with a minimal expense, get the most for your money. When Gold increases dramatically in price, Silver almost always does the same.....but with one very big difference, Silver increases at a much faster pace....which in turn means you would make a much higher profit. Silver is by far, the better investment for a number of reasons, you can initially also buy much more Silver which also allows you to increase your profits dramatically compared to gold.
- 1) Look on Kitco.com, which will tell you gold is at $800 an ounce today, look at the history (gold is higher than ever in 27 years) 2) have your money ready 3) Shop around, eBay, coin shops, online or walk in. 4) Make sure this is what you want to gamble on.
- You can buy an exchange-traded fund, GLD, from any stockbroker. It tracks the price of gold, up or down. And you don't need to worry about storing your gold.
