Is there such thing as buying gold from a bank?or some bank of some sort?
thundergravity asked:
Is there such thing as buying 24K 1oz gold from a bank?Or a bank of some sort?Like a more sure place where you know/can trust what your buying a honest 24K 1oz gold…..
This entry was posted
on Friday, January 30th, 2009 at 12:00 am and is filed under Investing.
You can follow any responses to this entry through the RSS 2.0 feed.
You can leave a response, or trackback from your own site.
Is there such thing as buying 24K 1oz gold from a bank?Or a bank of some sort?Like a more sure place where you know/can trust what your buying a honest 24K 1oz gold…..
January 30th, 2009 at 1:32 pm
No. You’d have to go to a jeweler to get gold. (Or a black market operative… But that’s a whole other story)
February 1st, 2009 at 10:32 am
As far as I am aware, one cannot buy bars gold from a bank. It is possible to buy mutual funds or Exchange Traded Funds (ETFs) from banks or other financial institutions that track the price of what gold costs on the open market, however. It is also possible to buy gold futures at banks or other financial institutions which are contracts to buy gold at a certain time in the future at a specified price. These contracts, however, are used by and large for hedging purposes and are not meant for individuals who are actually looking to buy hard gold.
Your best bet to buy true gold is a jeweler or a commodity broker/dealer. If you type “buy gold” into google then you will find many options which seem reputable. is just one such website.
February 4th, 2009 at 2:38 am
yes some banks in canada sell bullion
February 5th, 2009 at 7:48 pm
You can use any of these:
February 8th, 2009 at 11:15 pm
You can buy gold coins directly and online from the US Treasury, though they have had some shortages lately.
February 9th, 2009 at 9:21 pm
The only thing you can buy is an American Eagle gold coin. One ounce of almost pure gold. No gold bars at banks. You are correct; it would be easy to get cheated buying bulk gold..