Your Questions About Invest In Gold Online

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Thomas asks…

can i invest in gold or anything on the internet?

im 16 with about 3000 to invest i know gold is going up and its a smart thing to invest in is there anything else i should invest in and is there an online site that is legit that i can give money through paypal and invest into things through the internet and make money and it get transfered into my account????

financi4 answers:

Before you even attempt any investing, read up on the subject.
For your information, gold has topped out and just today is losing
$34 an ounce. The stock market is like gambling and if you don’t
know what your doing, you can lose a lot of money.

Steven asks…

where can i buy gold?and why should i invest in it?

I live in Ireland and i want to buy some gold, i dont really want to go online for it so where can i buy it have it physically ordered? a bank? a jewellers? also i live in a small town, i wanna invest in gold, but i cant cut a piece of gold off every time i want to buy food, yeah i have money to get by with and i understand the value of gold as protection from economic collapse but what good is a chunk of shinny metal when i have all this cash, how do i break change on a half ounce of gold u know, its not practical. i invest 2200euro in 2ounces of gold what returns can i expect, realistically 200/300 an ounce thats terrible return on investment, why should i invest gold
You talk alot of sense Azral, inflation is going to go through the roof, Gold is heading for +2K an ounce i want the security and to make a some profit, gold will never bubble its the measure of all worth in this world, sadly. im just worried about being stuck with it like i see these people trying to sell their silver after getting caught up in that rush. i know 2200 isnt much, i meant to put 2500, but its enough

also the other guy who said if you buy gold with this fiat currency when it goes belly up you can trade it in for the next money thus preserving you wealth, this is another reason why im intrested.
I sleep when im tired Jerry

financi4 answers:

Are you wanting to be physically holding the piece of gold in your hand? You can still purchase physical gold online, just that your broker would be holding on to it for you. In either case, the cost of purchasing and storing physical gold is not cheap. The costs you incur would probably outweigh the benefits. Both a bank or jeweler can do it for you, but don’t expect it to be cheap.

Gold isn’t practical to be used to exchange for goods, which is why people invented money. It is much more convenient than to try to shave off and measure fractions of an ounce of gold to buy a chocolate bar.

If you are getting 200/300 euros an ounce return for each ounce of gold you’ve bought, that’s almost 10-15% return. Is it that bad? In theory, your return should be nothing since you’ve just avoiding losing value by not holding a depreciating currency. The value of gold should be stable… In theory. Also, 2200 euros is not a lot of money when it comes to investing, so you shouldn’t be expecting to get rich from investing in gold.

The only reason to invest in gold is if you think the price will keep rising.

@Michael Wiseman: how does gold have intrinsic value? It’s value lies in the faith of the people as much as paper currency does. If I gave you a pound of gold, what can you do with that? Eat it? At least I can use paper currency as toilet paper when it really comes down to it. Gold is one of those commodities that everyone BELIEVES to hold value when it truly doesn’t. No, you can’t print gold out like paper currency, but what’s the value in a shiny piece of gold? There’s very few things a common person can do with gold, and the biggest one is to look at it because it’s shiny.

Other commodities such as corn, sugar, wheat, oil are actually useful and are consumed in every day life. These things have intrinsic value because they are required to be used by people. Gold has very little intrinsic value (and for the people who claim it does, it doesn’t). Actual demand for gold lies mainly in jewellery and a bit for coating electrical connectors. “Investing” in gold otherwise is purely speculation.

Charles asks…

how do you invest in gold?

what is the safest way? Our brokerage has closed its gold accounts because of the “rush”. Should you go online? (Radio stations advertise certain websites). Visit a coin shop?

financi4 answers:

I bought an ETF through my stock brokerage. E.g. GLD. Some people like coins but you have to physically store it somewhere.

James asks…

I invested money into a EGold account through the internet. They wont make my money available. What do I do?

I invested into Digots (E-Gold) online which is a money market account. My investments tripled within weeks. I was excited and told everyone around me. Shortly after, the website changed and all the procedures changed. I paid over 300 dollars to get the information on how to make this investment work. After the change of the site, I could no longer log in or get access to my money. After emailing the people who took my money and calling the disconnected numbers associated, I still cannot find out how to get my investments back. What can I do?

financi4 answers:

Since you have no contact number, no real names, no information whatsoever then the answer is: nothing.

Digots is NOT a legitimate money market company, it’s a scam. Any person promising you unreasonable returns is a scam. There is nothing you can do to get the money back. Most likely the people are long gone.

Always remember, if it’s too good to be true, it is too good to be true. ^_^

Robert asks…

Questions about investing in gold?

I had some questions about investing in gold bullion coins. First I was wondering where the best place to get gold coins is, online or at a coin shop? Also I notice some coins such as the american gold eagle have a value minted on the coins face, what is the purpose of this since the value of gold changes daily? And if you were to purchase gold would there be any additional taxes associated with it, or just the sales tax like any other purchase? Thanks in advance 🙂

financi4 answers:

Some reputable Internet dealers in gold bullion coins include:

Monex
http://www.monex.com

Kitco
http://www.kitco.com

APMEX
http://www.apmex.com/

There are many others, so you might do some Internet searches of discussions around this topic. But you could start by visiting the websites of the three dealers above.

Regarding the face value of gold coins, the value that appears in the legends on a coin’s face is pretty much irrelevant to its gold content or the metal value of that content.

There is one exception: some coins are legal tender at their face value, and this gives buyers some rather far-fetched downside protection. For instance there are some Canadian $100 legal tender gold coins, with slightly over 50% gold content, that are worth slightly over $200 in gold melt value today. If the price of gold were to plummet more than 50% from present levels (i.e. Below about $400-$450 per Troy ounce), those coins would still be legal tender at $100 Canadian dollars, so you would have protection against these coins falling further in value, if gold were to then fall even further below that level. But that’s a somewhat improbable scenario, and is mentioned here mostly for completeness.

Regarding sales tax, whether gold coins are taxable apparently varies by state and locality (or by province in Canada). You might check with your prospective dealer(s) about that; they’re highly likely to be well-versed in this, and they may even discuss this on their websites.

Third, you might consider all of your options for holding gold, not just coins.

Let’s say hypothetically that you were a wealthy – and somewhat paranoid, or at least skeptical – investor who was seeking to use gold – in a modest percentage of your wealth – as one form of hedge against financial disaster.

You would start with the basics: a mix of physical gold, typically in the form of gold coins like American Eagles, Canadian Maple Leafs, Austrian Philharmonic, or Krugerrands, to name a few – which are more recognizable and trusted than bars – stored in a secure location. You might mix these between a bank safe deposit box for the bulk of your holdings (or boxes in multiple banks – remember, you’re hypothetically wealthy :-), and a small amount in a home safe for the remainder.

You might then put some money into “paper gold” outside of the US: these might include gold certificates or accounts (e.g. Goldmoney.com, Perth Mint, to name just a couple) which represent a share of physical gold held in places like Jersey (UK), Switzerland, or Australia, or gold ETFs or their equivalent on foreign stock exchanges that represent gold held outside the US, building these holdings over time. Another, similar option is a closed-end mutual fund, the Central Fund of Canada, which has been around for a long time and has a stellar reputation for safety.

These would – if you trust the holders, and you’d probably want to diversify among several – give you gold that might not be subject to future US government confiscation or cross-border currency transfer limits or prohibition, and might be more accessible to you if you needed to flee the country in a hurry. (Remember, you’re hypothetically paranoid 🙂

All of the other options are more like playing the stock market: they’re less defensive hedges and more along the lines of risking capital in the hope of outsized gains. These include:

* The Gold Exchange Traded Funds (e.g. Ticker symbols GLD or IAU), representing a share of gold held in vaults in the US.

* Gold futures and options, essentially bets on the price of gold.

* Gold mining shares and mutual funds that hold these: essentially bets on the fortunes of individual companies, or a mix of those companies.

Personally, as a small investor who has had a modest but long-time interest (back into the 1970s) in tracking gold and the gold mining sector, values in the shares of the so-called “junior mining” sector look incredibly appealing these days. This sector has just cratered, with the share prices of many companies dropping by 40-70% from their recent highs in 2007 to their current Summer/Early Fall 2008 lows. As a result, when buying shares of these companies, you can today often buy gold in the ground at a price in the range of $10-$30 per Troy ounce. That’s far lower than the typical rule of thumb, of in-ground gold being worth somewhere in the vicinity of 5-10% of the spot gold price (roughly $42.50-$85 per Troy ounce at today’s $850+ gold price).

“Junior gold mining companies” are small cap companies – with market caps just in the tens or hundreds of millions of dollars – that are generally in one (or more) of four stages: exploring for gold, have discovered gold and are identifying how much they have by further drilling, are doing technical and economic feasibility studies and lining up financing toward building a mine, or have at some point begun modest production of gold. These are high-risk, high potential reward companies, and only to be invested in if you do a great deal of research and diversify widely. You can find a huge investor community around these at:

http://www.stockhouse.ca

George asks…

Investing in commodities,?

I read alot about investing in gold. But the problem, i don’t know how this happens.
How can i buy and sell gold online?
Does my online broker charge me commission or it has different technique?
For example, in currencies they charge spread.
In investing, I also read that once you buy gold, currency or any thing, it means that you should close your position (or sell your currency).
Assume that i buy $20,000 worth of gold, and i keep 1-2 months (keep the gold with me till the price gets in good high then sell).
How much will the online broker charge me a commission?
Will the broker charge me interest rate for keeping my position open for that long?

Thank you
So, let me get this straight. From the answers i got so far, the online brokerage will charge me only when i buy or sell, CORRECT??
If i am not mistaken, this means that brokerage will not charge me extra for holding a position for some long time, or charge me interest rate, right?
I need your confirmation

Thanks again

financi4 answers:

If you buy an ETF like “GLD” you would pay on average $2 to $10 in commission to buy $20,000 worth of gold. You’d pay an equal amount in commission to sell the position.

If you have the cash to buy this ETF… There will be no interest charge. If some of your purchase puts you in negative balance…. An interest charge (margin) will apply.

John asks…

Where can I learn about gold and property investment?

I am planning to invest in gold and property and yet I lack the knowledge to do so, where can I learn it online as to prepare myself in the world of investing as I am quite new to it.And to those who perhaps have experience a few tips or pointers is much appreciated. Thank you.

financi4 answers:

Gold investment is a GLOBAL issue. SO i guess u have to keep up with the news at all times…..for alternative investment like real estate..it is very much depend on the area u are interested in.
Tips : Only buy properties in the area / environment that u are familiar with it. U have to do alot of analysis before u invest in property……..

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