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.
A good investment manages risk by buying low and timing the market, states MarketWatch. A good investment is not the product, which can change with time, but the process of identifying the risk and managing it.
Some good things to invest in include online savings accounts and certificates of deposit for the short term. Mutual funds and exchange-traded funds are good investments for the long term.
Some good investments to make as of 2015 include precious metals, peer-to-peer lending and real estate, according to Daily Finance. There are also more unique investments, such as paying down one’s debt or investing in wine or collectibles.
While the price of silver at any given time impacts its value as an investment, silver in general has some pros relative to other investments, reports MoneyWeek. Silver is especially volatile, which means it has the potential for fast, strong returns, or fast and sharp declines.
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.
Some good investment companies, according to Brokerage Review, are Options House, Scottrade and Trade King. As of 2015, each of these firms have a rating of 4.5 out of 5 stars on the Brokerage Review website.