Some effective methods of investing in gold include doing so through exchange-traded-funds, closed-end funds, single stocks, gold coins and gold jewelry, reports the CNBC website. Gold is a precious metal that analysts compare against other investment options, reports the Houston Chronicle.
While many factors determine if an investment is good or bad, gold, silver and other precious metals are too volatile for most investors, particularly retirees, according to AARP. It is an emotional form of money, but it does not produce anything.
Investment experts recommend investing in gold through a variety of avenues, including exchange traded funds, shares of mining companies, futures contracts and derivatives contracts. Some simply purchase and store gold itself. Each of these strategies comes with unique benefits and risks that are no
It is best to buy gold when the price per ounce is the lowest. In January and February 2015, gold prices per ounce ranged from $1,000 to $1,200. The average price per ounce in January 2005 was $420.
The U.S. Mint publishes a list of dealers by state, according to Kiplinger. The U.S. Mint checks the Better Business Bureau for online complaints against the companies on the list, but it does not vouch for any of them.
Silver is a better investment than gold because it is less expensive than gold, has greater production and has more earning potential, according to Ben Kramer-Miller of The Cheatsheet. Silver and gold are both smart investments because they're protected against inflation and economic disruption.
Buying into a precious metal exchange-traded fund (ETF) is typically the easiest way to invest in silver for most individuals. Investors have a choice among three categories: silver futures, physically-backed and mining ETFs. ETF shares are available through online brokerages and offer a high degree
Some ways to sell gold and silver include mail-away operations, hotel gold buys and jewelry stores. These methods all work to get rid of gold and silver, but each has its advantages and disadvantages.
The best gold coins for investors are those that sell at the smallest premium over the value of the gold itself. These coins include the American Gold Eagle, South African Krugerrand, Perth Mint 1-ounce Kangaroo and the Austrian 100 Coronas, according to CMI Gold & Silver Inc.
To choose an investment with the best return, it is important to first decide on the time frame for its intended return, according to MarketWatch. This is because different time frames are suited to different types of investments.