Your Questions About Invest In Gold Or Silver

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Ken asks…

Is investing in gold or silver a good idea right now?

Or is it too expensive?
By “too expensive” I mean that the gold and silver price is comparatively high at the moment.

financi4 answers:

I think the price is artificially high. It’s the new house flipping scheme. Buy low sell high only works if you are indeed buying low. The economic law of supply and demand takes root in this question, so long as the economy is in-stable the value of gold will continue to rise as people find a safe have for their money, once things start to adjust and the markets become better producers of wealth there will be massive gold sales and the price of gold will plummet. Since gold as a commodity is traded instead of used for consumerism, it’s real value is tied to the fickle nature of the marketplace. “Investing” in gold is a gamble I am not taking with 1,700 of my dollars, or any amount. If I owned gold, today would be a sell day for me.

Michael asks…

Where are the reputable dealers for buying and selling physical gold and silver?

I’m interested in investing in gold and/or silver coins and bars to preserve the value of my money at this time. Who and where are the most reputable dealers??

financi4 answers:

You might find some well known ones, at the following URLs:

www.usagold.com
www.apmex.com
www.coinresource/directory
/gold.htm
www.gold.org
www.golddealer.com
www.taxfreegold.co.uk
www.mjpm.com
www.nwtmintbullion.com
http://miningstocks.com/bullion
http://goldprice.org

John asks…

Did anyone do as I did and invest in hard silver and gold?

Don’t you wish the US Government backed the money with more than “Good Faith in Credit” orIn God We Trust.?”
I bought at $304 an ounce. So I’m good. Plus what I mined myself and is about 85% pure.

financi4 answers:

I hope you didn’t buy recently. Commodities was a good place about 1-2 years ago. The prices are so inflated now, those looking for a refuge, are buying the dollar.
Have you noticed how much oil as dropped? It’s time to jump off the commodity bandwagon. You are better off putting your money into a mutual fund, or if you want something real secure, a CD, bond, or T-bill.

Chris asks…

What metal should I invest in, silver or gold?

financi4 answers:

Gold and Silver prices mostly move together. When one goes up, so does the other. It’s probably better to invest in both, for diversification. Silver has many more industrial uses, so there is always demand for it to actually be used up. Gold on the other hand, rarely gets used up, but is better recognized for storing value (i.e. Fort Knox stores gold, not silver).

So I say split your money about 50/50 between them.

If your looking to buy soon, check out a price comparison place like http://coininferno.com to get the best dealer prices. I’d suggest looking at Gold Eagles, and Silver Eagles. Make sure you don’t pay more than a few percent premium. Some places try to charge some ridiculous premium, like 30% markup, but that just robs profit.

Paul asks…

Should I invest in silver or gold?

Which of the two would be better to invest in?

financi4 answers:

Gold’s in a bubble right now, definitely do not go there. Silver or palladium might be ok if you are looking for something you can put into a safety deposit box, because their price has been going down. They should turn up soon, but no guarantees. Chinese gov’t bonds or Developing Countries Market Index fund would be safe if you’re ok with just paper investments.

Charles asks…

Should I invest in Silver or Gold?

I just wanted to buy bullions of either one which would you think to be the better choice. Thanks.

financi4 answers:

The problem is that you should not physically hold the metal and you have to pay for storage every month by the ounce. And if Gold is $1700/oz, if you bought an ounce and took it to the next dealer and sold it, you would not be offered $1700 because the purchaser has to make a profit.

Donald asks…

Should i buy gold & silver instead of investing in a 401k type investing or a IRA?

Im 38 now with a full time blue collar job with 3 kids and wife.The market being the way it is and the way social security and medicare going to be gone in a matter of 20 years.When the market does go bad like it did in the 30s i will have some hard cash at least to trade when it all comes down to it.
I mean buy buying gold & silver i mean by the 1 ounce bars and rounds to the 10 ounce

financi4 answers:

There seems to be a lot of people that are not only asking that question these but also answering it for themselves. They have been stocking up. There is one little problem with investing in gold and silver. They don’t earn you anything. Another little problem is that they might get stolen. Probably happens 100 times every day. Maybe 1000 times. Those two problems have not prevented people from putting their money in those hard assets. I guess I can’t really blame them what with the government trying to make the dollar worth less and less by the second. And then when they do they whine about inflation. Geez, sometimes I wonder about how good democracy really is except for those that can buy their votes.

With the price of gold and silver at their current levels, I really can’t recommend putting any money into them. I think you would be way better off in the long run with an IRA account with some KO, MCD, INTC, GE, and CVX in it. They all pay nice dividends and they will most likely do well no matter what our idiotic government does. They all can afford to buy their votes.

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