Buying Gold...?

[phobophobia]

Hi.

I would be interested in selling stock and converting it to gold in the future. Is there any way to buy gold online with a regular broker? Do I need to do something special? Can someone help me with this? I've never bought gold before.

[sowersnc]

The easy way to do it is to buy the ETF GLD.

[mimo_100]

It has been a long time since I actually took possession of the specie.

Most brokers have a precious metals area. If you want to take possession of the gold, remember that you will have to pay an assay cost if you want to sell it. It verifies that you are selling 1 troy ounce of .999 fine gold. Cost: probably around $100.

You may want to look at the various hard currencies made up of 1 troy ounce of gold. They have both intrinsic value and value as a currency. Example: the Kruggerrand.

Tim

[skiracer]

Any thoughts on Gold. Anyone holding the ETF on it. I bought GLD back around $46 range and am still holding it. I like it's chances of going over $600 with oil and the Iran situation the way they could play out. Very precarious situation there in the middle east and could push gold way up if tensions continue to mount if oil supply and distribution lines come into jeopardy in Iran.

[skiracer]

Any thoughts on gold? Anyone else holding GLD? Asked the other day and got no response at all. No one watching gold or playing it at all.

[jiesen]

my thoughts on gold are that whatever gold does, silver will do better, since it's priced more attractively today. Thus my position in SSRI.

[skiracer]

my thoughts on gold are that whatever gold does, silver will do better, since it's priced more attractively today. Thus my position in SSRI.

Jiesen,
Silver is being used on the technological side much more than gold so there is an ever increasing demand for it aside from jewelry. That's a big positive for silver. Some use for gold in that area but not like silver. Silver is much cheaper and allows a greater number of people to buy an own large amounts of it. I used to buy 10 oz. bars of silver for years from the old Sunshine Mines Inc. Bought them back when it was under $5.00 an oz. Used to just like to look at it for some perverse reason. Still have a large number of bars laying around the house. Use them as paper weights, door stops an anything else that needs to be held down. Also make a nice gift for a birthdays or Christmas presents. I haven't been buying to much of it lately but a silver mining company I like is PAAS. Take a look at their daily and weekly charts. They look good right now an if gold breaks further up silver will follow. I'm up almost 100 points on the gold ETF GLD in less than a year an I'm looking for it to go over 600 this year. SSRI has been forming a nice base on the weekly. I'll keep an eye on it. Thanks.

[jiesen]

in the past few days, silver has gone from under 9 to about 9.5, a new 18 year high:

http://futures.fxstreet.com/Futures/news/afx/singleNew.asp?menu=latestnews&pv_noticia=MTFH25138_2006-01-25_14-36-05_L25686726

talk of a silver ETF may be helping to drive this spike up. I don't think there's enough available silver around for everyone who'd want in on an ETF- prices would have to spike much higher to make the stuff materialize in such a quantity, imo. and it's just this type of price action that will drive more people rushing into the market, right?

anyway, my SSRI is getting a nice boost out of this:

http://finance.yahoo.com/q/bc?s=SSRI&t=5d

[OmahaInvestor]

I know it has been awhile for this thread but I am looking to buy some gold bars and have no idea how to do it?I don't want a gold fund or anything I want the actual bar of gold. Is there some sort of catalog or something? Maybe a good website that they have bought off of? If anyone has any idea of how I could go about buying actual bars of gold I would really appreciate it.

[mimo_100]

This is not an endorsement of the site -- just an answer to your question ---- Click on the Metals Select button down on the right -------
http://www.everbank.com/main.asp?affid=eb&IDPage=pro_wc&referId=11812
You can also buy CD's in currencies other than US $$$$.

Tim