I've heard that James Turk is leary of etf GLD. So, if possible I want to stay away from it. So, I I just noticed that there exists another gold etf with good volume--IAU ( iShares COMEX Gold Trust (NYSE)). I popped it into google finance and it and GLD track pretty much perfectly together.
What do you people think of this one?
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Local Coin Shops
Visit and get to know 2 or more of your local coin shops and the ones in the places you visit - like your parents house.
Buy some silver with a 20 or a 100. Hold it in you hand. Then you can start to buy some Gold as well.
For ETF's the fund CEF has caught my eye - also think of mining stocks as leveraged plays on gold - more up and downside.
Anyone day trading gold and or silver over the next few months is crazy - unless you work at the Gold Desk on the Feds Plunge Protection Team.
You trade ETFs for profit (as long as you take it).....
You trade ETFs for profit (as long as you take it). You Own physical gold as insurance against a monetary collapse. It's your choice. Just know the risks with each.
I don't care about the manipulation talk. Everyone knows there is some sort of manipulation via the secrecy of the Fed's action.
When push comes to shove (dollar index falling below 72), then you want physical gold and not ETFs.
One thing to consider about the ETFs and their holdings of physical gold. If all of a sudden no one wanted gold any longer, what would they do with all of the gold they have to sell in giving people back their money at current market rates? Answer: They couldn't sell it on the open market fast enough. So you can be there is some hedging going on in some fashion (to protect themselves). This is not the same as owning physical gold as you know.
But if you want to trade it, go for it. Keep an eye on the volume and make sure its sufficient enough for you to exit when you want to.
Also keep an eye on the dollar index. It falls below that 72 mark it would be worth the risk to physically own it. Right now its hovering around 79.
Blog: http://fedupbook.com/blog
Free White Paper:How Gold Investments Can Secure Your Retirement Years - download at http://fedupbook.com/whitepaper
Disclosure: I don't sell gold. I just write about it.
My Christian/Political Blog:
We the Serfs! Blog
Thanks Fed up
I will be reading your material!
James Turk Doesn't like them because,,,
,,,they are not transparent on the storage of actual Gold.
They may be pulling the same kind of cover up that the Fed/Treasury is/has pulled with Fort Knox Gold. { No audit in over 50 years }
Gold has been going up in value in every currency for 8 years, so if you've been hiding a Gold coin in your private stash since 2001 it is now worth about 3 times what you paid for it in dollars.
http://goldmoney.com/charts.html?cn=0-840-120-0&ca=10+Year+G...
beesting
Well looks like Turk doesn't like IAU either
http://www.leg2capital.com/turk.html
Take Physical possession 1st!!!
The first step is to acquire physical bullion as your Gold and Silver investing foundation. Most people hold 50% or more physically in hand or in segregated 3rd party storage like Brink's.
The only paper Gold and Silver Investment you might hold in paper is direct stocks in Gold and Silver mining companies.
Start with the Major Mines and as we move forward in this bull market perhaps move on to more speculative Minor Plays (only with your gambling money).
Gold Major Mine Plays:
GG - FN.TO - FCX - RGLD - IVN
Silver Major Mine Plays:
PAAS - SSRI - HL - SLW
AS for physical metals - go with the best in the business:
www.GoldSilver.com
"Freedom on this Earth can only be found within oneself. All the power you'll need is inside - embedded within you."
"Freedom on this Earth can only be found within oneself. All the power you'll need is inside - embedded within you."
Well mining stocks sounds like a good idea
but they have the drawback of finding out which of them is a well-managed company.
have you heard of GDX ?
it's composed of 31 different gold mining stocks.
GDX is the best way to invest in gold if you are not going to physically own it in my opinion. You get a lot more leverage that way as opposed to GLD. And it's still well below it's all-time high (about 32% off) while gold is only about 8% off, so you could say it is more undervalued.
That's interesting,
I'll lookie into.
Was just comparing it in Google finance
to GLD. http://www.google.ca/finance?q=NYSE%3AGDX, (note: put in compare to GLD).
GLD was much better over the 5 yr period, 1 yr period.
Whereas, GDX, has done better over the 1mo, 3mo, 6mo, and YTD periods.
Hmm, I'm not sure to make of that. I guess it depends on the start date that is used for these comparisons? Input anyone?
If you're a long term investor
then look at the long term trends and don't worry as much about the short term charts I guess. I don't know much about looking at charts though. All I can tell you is that it seems like a pretty good bet that gold is going to do well in the long term, so I would rather buy something with more leverage.
The best gold ETF is the one
The best gold ETF is the one in your backyard. Buy physical gold, take delivery of it and dry up the channel which the paper gold market thrives on. Paper gold is just not wealth protection. Paper gold is the same toxic game of OTC derivatives that put us in this mess in the first place.
Please, just take the money and go to apmex.com or allamericangold.com and put it away. James Turk is right about GLD, but I'm not sold on his goldmoney.com either. Good idea, but in this age of rampant sociopaths running the government and wall st. you shouldn't trust anyone but yourself with your assets.
Of course, if you don't own a gun to protect your gold, then buy one of those first. Guidelines on that are simple. Find a gun you love to shoot and buy it. Then spend time learning how to use it well. First protect yourself, then protect your gold.
Ta,
Blog: The Present in Plain Text
Listen to The Myo-Tonics on YouTube
I don't want to buy physical gold tho...
- have to pay a premium
- have to store and hide it (risk of it getting stolen)
It is currently(ie. as long as it tracks accurately the gold spot price), is it not? However, if there was some scandal with GLD, then the price of the ETF would drop correspondingly--and then I think it could be said that is not wealth protection.
Premiums?
Go to Craigslist. Find individuals selling. No premiums, no paper trail. As for security, I would much rather hide it than trust someone else to.
The paper markets have been
The paper markets have been greatly manipulated. What exactly guarantees you could get the gold if you wanted it? What guarantees do you have that the company actually purchases the gold that they say? When you invest in EFTs, you are investing in a 'promise' to pay. In this day in age, I don't have faith in anyone's 'promise' to pay. If you do, then you should invest with me. I'll promise huge gains and large dividends. I learned everything I know from Berrnie Maddoff, so you can trust my abilities. < /sarcasm >
Jason Hommel is a metals (specifically Silver) guy who routinely writes about manipulation in the markets. I would recommend studying his works.
www.silverstockreport.com
Major Frauds of the U.S. Monetary System:
http://oikonomikablog.wordpress.com/2007/05/18/jason-hommel-...
Silver Price Manipulation 101:
http://silverstockreport.com/email/silver101.html
A tribute to seventh grade math:
http://silverstockreport.com/2008/7thgrade.html
Jason Hommel Archives:
http://silverstockreport.com/ssrarchive.htm
reply
Good question. Answer: I don't want the physical gold. I just want an investment that tracks the spot price of gold.
Thx, I might check him out.
Buy and hold the metal
You are allowing the manipulation of gold prices. The funds do not buy the gold they short it with your funds and when they lose money.Well that is what the bail out is for to keep it going.
If voting could really change things,
it would be illegal. Here is hoping for change!
It wouldn't surprise me if the ETFs were doing
a bit of fractional-reserving. But as long as they are closely tracking the underlying gold index, then I'm happy with them.