Your Questions About Investing In Gold

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Chris asks…

Is investing in gold a wise choice as of now?

Our dollar is tanking while gold is skyrocketing in price by the day. Most people are investing in gold as it is clear there is a financial meltdown that is looming. But, how wise would this be? I mean, eventually, wouldn’t demand for gold decrease if total financial meltdown does not occur and thus drive the price for gold down? How wise would it be to invest in gold as of now?

financi4 answers:

Gold is a bubble right now. It still may go up because of this latest scare and eventually the economy is going to have re-inflate at some point, so it’s a good bet. But sleep with one eye opened, bubbles burst fast and violently. I made if through the tech bubble crash and avoided the real estate bubble crash, so I am staying out of the gold bubble. You lose a lot of money in bubble crashes if you are still in the bubble when it happens. Perhaps, trade gold would be a better bet? I don’t have the stomach to chase bubbles anymore, the pain from the tech bubble crash still hurts.

Paul asks…

Can anyone explain the process for investing in gold?

I tried to have my 401k rolled over to investing only in gold. They said that it could not be done since gold/silver is a commodity. Can anyone tell me the best way to get OUT of the market and get INTO gold? I am convinced our dollar will collapse catastrophically and only those with gold stand a chance at even surviving without being a ward of the state and enslaved. Your help is appreciated.

financi4 answers:

You want a gold backed IRA. There are a few out there, most of them in Texas.

Be careful though. If you are going to have gold held for you. I would recommend you work with a broker that allows you to store the gold with a 3rd party.

Some will try to sell you a plan and store your gold but I would stay away from them. It becomes too easy for them to get reckless with your assets. Stick to a 3rd party.

Lastly, stay away from Exchange Traded Funds (ETFs) or any other paper note that only claims you own gold. If you don’t have possession of it, you don’t own it. It can all disappear in a flurry of paperwork.

I am currently picking gold and silver stocks. If there is a large and continued increase in the demand, the value of the stock should rise proportionately.

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