Gold Buying Guide

3 Responses to “Buying gold for beginners?”

1. girlygurl23 Says:
   July 7th, 2009 at 12:30 pm

   Buy etfs instead that invest in gold. you dont have to worry about storage. then just follow the gold market.

2. sothere! Says:
   July 8th, 2009 at 12:35 pm

   Do you want to buy actual physical gold or want to own it indirectly?

   There’s an ETF that is very liquid on the stock exchange called GLD. It is a trust fund that invests solely in gold and whose price movement mirrors the price of gold. It is very easy to purchase and while you don’t “own” gold per se you own almost perfect exposure to it.

   You can also purchase gold futures on the COMEX. That’s a bit advanced for most ordinary investors so probably not worth explaining.

   If you want to purchase “physical” gold (i.e., gold you can actually hold in your hands, etc.) it is pretty straightforward but can be somewhat of a hassle. The easiest thing to do is to buy gold coins–NOT the crap you see on TV or magazines–but actual legitimate gold coins like US Eagles, Canadian Maple Leafs, etc. You need to contact a commodities broker to do that and it might take time to do it. There’s a lot of demand for physical gold these days.

   Easiest thing to do is to buy the GLD ETF on the stock exchange.

3. Blake D Says:
   July 8th, 2009 at 1:15 pm

   When you buy gold you should always take delivery of it when you pay for it. That way you have it in your possession. It is easy to sell if you ever want to. Gold can go up or down in value, but at least you will know that have gold in your hands and not some investment that disappears.

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