Your Questions About Investing In Gold

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Paul asks…

Is investing in gold a good and safe option?

Hello friends
I am from INDIA and m in a job.

I want to get advice on investment in gold

Is it safe and better option?

wat can be sum oder good investment plans?

Thank u

Justin answers:

No! Gold is not a good investment.
The New York Spot Price Market (USDollar)
If you bought 1oz of gold at $1,690.00 (Rs 89046.1000) on Mar 26, on Apr 4, gold dropped to $1,620.00 (? 85357.8000) you would have lost $70.00 (? 3687.2500)
If you kept your gold for 30 days on Apr 23, your gold is worth $1,640.00
(? 86403.4000) a $50.00 loss (? 2634.5000).
A one year investment in 1oz of gold, starting on Apr 25, 2011 at $1,510.00 per oz,(? 79539.2500) on Apr 23, 2012 gold closed out at $1,640.00 (? 86403.4000) a big $130.00 (? 6849.7000) profit.
Consider, that you have tied-up $1,640.00 (? 86403.4000)
for one year, and that’s just on one oz of gold.
Http://www.kitco.com/charts/livegold.html
Check out the FOREX market, I have been in that market for 7 years. FOREX is my full time job. I walk to work, a total of 44 feet to my office.

Charles asks…

The price just keeps going up! Should I still be thinking about investing in Gold?

Should I buy Gold now?

Justin answers:

Gold is a bubble ready to burst. The only way to make money from gold is to pan for it.

James asks…

Is investing in online gold units is good and safe?

If yes which gold units in India are best to invest?

Justin answers:

Investing glod online is very safe. But i dont think its good to invest in gold @ current stage. Wait or invest in good equities…….

William asks…

How to start investing in gold ?

Justin answers:

The 1st responder has the right idea except GLD is not a company. It is an index fund. The price equals 1/10 oz of gold. You buy it like you would buy a stock through a brokerage firm. There is one thing you need to know. The IRS has a special tax rule regarding capital gains in GLD and other forms of bullion. The gains are subject to the 28% tax rule because they are treated as collectables. Just a way for the IRS to put the shaft to you.

Another alternative is to invest in a gold mining stock such as ABX. Capital gains associated with that are treated to the normal capital gains rules.

George asks…

Why Singapore gold price is so much higher than international gold price?

Example today international gold price is US$55 * 1.25 = S$68.75, but Singapore gold price is S$82.50(this price doesn’t include workmanship cost if you buy from the goldsmith). Bank sell at a less higher price. Am I correct if I invest gold in singapore I have to recover these difference before I make a profit?

Justin answers:

Gold prices are international – 1 ounce of gold worth the same in any part of the Planet Earth. Where did you check your prices? Keep in mind that what change are the CURRENCIES – for example, as I write, GOLD US Spot worth about $1731 but in New Zealand Dollars, $2138.

Also, when you are buying physical gold, there are premiums (costs with shipping, handling, and so on) so you won’t be able to buy at spot at anywhere in the world (as far as I know). Expect 2 to 3 % over spot for cast bars and ingots and 5 and up to 15% for famous brands like Swiss PAMP.

Cheers

Donald asks…

Is The Gold Guarantee ( sg ) real? Can we really earn money from investing in gold bars here?

Justin answers:

I don’t know but this is cause for concern: “We don’t slavishly sell gold simply as a product and allow our customers to face the potential risk of gold price fluctuation. Instead, through our proprietary trading platform, we adopt an active hedging and leveraging strategy that allows us to provide our customers with a unique buy-back option that is normally unavailable to the general public, except the most sophisticated.”

When you click on Buy-back program you get a 404 error. Whatever they are selling there it is surely BS.

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