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Need your help warriors. Anyone know anything about investing in gold?

by Jake Trainor
6 replies
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My Dad watched a special with Bill Gates and Warren Buffett and I think they recommend investing in gold. Now my Dad wants to put some money in it and ask me to find out how. So can anyone give me a crash course in investing in gold?

Thanks.
  • Profile picture of the author HeySal
    You can buy the metal or you can do paper investments - your stock broker can help you out with paper investments. You can go to a coin shop to buy the metal.

    You might wanna look into rare earth metals, too, instead of just gold.
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  • Profile picture of the author NicSennen
    Depends how much money he wants to put into it.

    Gold coins (eagles, krugerrands etc.) are always good - just be careful where you buy them.
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    • Profile picture of the author Kay King
      A better move right now is to sell any gold you have. Two friends of mine sold old (mostly damaged or broken) gold chains, etc they've collected over the years that was no longer worn.

      One was paid $1600 and another $2700 because the price of gold has been standing near an all time high. They loved it!

      kay
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  • Profile picture of the author Patrick Warren
    You can invest in a gold mining company like JAG on the stock market. I did and made some money.

    The advantage there is being able to buy and sell quickly and easily like I did via an online account with Sharebuilder.

    Gold is supposed to be on the rise even more, but right now it is hovering.
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  • Profile picture of the author Michael Motley
    Probably would have been a better idea about a year and a half ago. I dont know how much higher gold can really go. You might want to listen to HeySal and look at other precious metals. She's a rock chick.
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    • Profile picture of the author glchandler
      Gold is fantastic to hold as a bracelet, necklace or coin but maybe the days of big dollars is gone?


      Oct. 19 (Bloomberg) -- Gold's rally to a record means prices are still 53 percent below the 1980 inflation-adjusted peak.
      While gold rose 19 percent this year to $1,072 an ounce on Oct. 14, consumer prices almost tripled in the past three decades, eroding the metal's value. Bullion hasn't kept pace with the cost of bread, fuel or medical care. In 1980, gold hit a then-record $873 an ounce. In today's dollars, that would be $2,287, according to the U.S. Labor Department's inflation calculator.
      Take into consideration, for the average investor, the broker percentage at purchase. Probably again at sale and the price must go up considerable just to break even.

      Then, of course, with the oncoming government controls we just may not be able to legally own the stuff in a few years!
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