Do I need a storage or safe to invest in gold?
DRCelo asked:
I’ve never bought gold before, and would like to invest in buying gold. Do I need a physical place to keep the gold, or I only need an account at a broker and they keep track of my gold?
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I’ve never bought gold before, and would like to invest in buying gold. Do I need a physical place to keep the gold, or I only need an account at a broker and they keep track of my gold?
December 21st, 2009 at 2:00 am
Either you can buy gold physically but then would come the problem of storing it. Or you can buy Gold bonds which would be a safer option. However, you would have to check out if any additional costs are involved in buying Gold bonds and then decide for yourself which is the best option. Savetheworld
December 21st, 2009 at 1:14 pm
I think you would be buying high. Having said that, I keep my krugerrands in a safety deposit box at the bank. exactduke
December 22nd, 2009 at 9:37 am
If you expect to hold the physical gold yourself you do. Thats the problem with owning gold. It has a negative yield, you have to store it. jeff410
December 22nd, 2009 at 2:15 pm
lol.. the irony of it is that it might be safer buried under a tree if the government confiscates gold kept in safety deposit boxes and held by securities firms. And a safe might be like a flashing neon sign to a robber.
Predicting the future can be a tough thing. itsjunglepat
December 24th, 2009 at 1:27 am
If you buy physical gold, it is probably a good idea to have a safe or other secure location to store it.
A safe deposit box is safe, but you may not be able to get to it anytime you want.
If you buy gold and have someone hold it, I recommend GTU or CEF, you can read about them:
Grandpa Computer Guy