Gold continues going down on another rough day. I am still a believer that the fall is nothing more than some profit taking. Here is video from FOX Business...Talks about profit taking...Keep an eye on silver.
Showing posts with label buying gold. Show all posts
Showing posts with label buying gold. Show all posts
Tuesday, December 8, 2009
Friday, September 4, 2009
Gold Racing to New Highs
Gold is racing towards $1000 per troy ounce an amazing early September run. Silver is matching that run going up $16 per troy ounce. Now, don't look for either to sustain these highs. However, the floor isn't going to drop out either.
Clearly investors are quickly losing, assuming they ever had it, confidence in the central banking system and the current administration. The constant talk of health care, cap and trade and now a tax on traders, is fueling this doubt and creating even greater concern about the health the dollar. Toss in the fears of a jobless recovery and what we have are jittery investors running towards gold.
So what does this mean for the common gold investor? If you are heavy in gold snag some profits, if not hold off buying. Wait for the correction which could come anytime and then jump in. The price will go back to somewhere between $950-900 mostly because the demand for gold jewelry is not there. But, as the economic troubles continue, unemployment hitting a 26-year high, gold will continue the climb upward.
Clearly investors are quickly losing, assuming they ever had it, confidence in the central banking system and the current administration. The constant talk of health care, cap and trade and now a tax on traders, is fueling this doubt and creating even greater concern about the health the dollar. Toss in the fears of a jobless recovery and what we have are jittery investors running towards gold.
So what does this mean for the common gold investor? If you are heavy in gold snag some profits, if not hold off buying. Wait for the correction which could come anytime and then jump in. The price will go back to somewhere between $950-900 mostly because the demand for gold jewelry is not there. But, as the economic troubles continue, unemployment hitting a 26-year high, gold will continue the climb upward.
Tuesday, July 28, 2009
Buying Gold on a Budget Part 2
This is the second part of how to buy gold on a budget.
Look for gold that is affordable or at least within a budget. Most of us cannot buy the gold bars we see on television, but we can get our hands on gold coins, specifically American Gold Eagles.
The American Gold Eagle is a great investment and although it is still expensive at around $1,000 per coin, they do offer a viable way of purchasing gold. Finding them is very easy and just a click away. There are a number of them currently on eBay. However, I prefer to buy my coins at a local store or from APMEX.com or Austin Rare Coins.com. I have purchased coins from both and have been very happy with their service and product.
Another common option is the Gold Canadian Maple Leaf. Like the American Gold Eagle, the Maple Leaf is easily found and offers a convenient way of purchasing gold.
If you are interested in historical coins there are many shipwreck recovered coins available. Personally I have never purchased such coins as my knowledge is limited. These coins offer both a historical and tangible option, but they requiring a vast knowledge. It is critical to be well rehearsed in historical coins and the grading system of coins. Other wise, the danger of being "taken" increases.
Gold coins allow the average person to invest in coins, that's why FDR scooped them up. So take advantage, put some money back and get into the world of gold coins.
Wednesday, July 22, 2009
How to Buy Gold on a Budget: Part I
Okay so everyone is saying buy gold, but show of hands if you have $1,000 sitting around the house for just one troy ounce?
That's what I thought, if you did you would be reading a high priced, subscription site instead of this free one. So, this leaves us with a pressing question; How to Buy Gold on a Budget?
The answer is found in discipline. As Americans we have been trained to become consumers of all things. We buy, eat, drink and consume like an army of red ants. That doesn't have to change when dealing with gold, it just needs to be altered.
First, let's address the impulse buying that haunts so many of us. Instead of grabbing the 32" LCD television, think about it. Downgrade a few hundred dollars and get something smaller. Right there a consumer can save/refocus a few hundred backs. That takes a potential gold investor to almost 1/4 of the way to buying gold.
Now add that to the other impulse items we buy and bingo; there's the money to purchase on American Gold Eagle. Changing from an impulse to a smart consumer is a beneficial and smart move. Look at this way, you are still consuming but instead of a product that will some day be tossed aside, you have consumed an investment.
Secondly, set up a plan to purchase gold at specific intervals through out the year. Target a plan where some form of gold will purchased at X time. Doing this will require discipline, but will allow for a gold portfolio to slowly build.
That's what I thought, if you did you would be reading a high priced, subscription site instead of this free one. So, this leaves us with a pressing question; How to Buy Gold on a Budget?
The answer is found in discipline. As Americans we have been trained to become consumers of all things. We buy, eat, drink and consume like an army of red ants. That doesn't have to change when dealing with gold, it just needs to be altered.
First, let's address the impulse buying that haunts so many of us. Instead of grabbing the 32" LCD television, think about it. Downgrade a few hundred dollars and get something smaller. Right there a consumer can save/refocus a few hundred backs. That takes a potential gold investor to almost 1/4 of the way to buying gold.
Now add that to the other impulse items we buy and bingo; there's the money to purchase on American Gold Eagle. Changing from an impulse to a smart consumer is a beneficial and smart move. Look at this way, you are still consuming but instead of a product that will some day be tossed aside, you have consumed an investment.
Secondly, set up a plan to purchase gold at specific intervals through out the year. Target a plan where some form of gold will purchased at X time. Doing this will require discipline, but will allow for a gold portfolio to slowly build.
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