Commodities Question
I want to invest in precious metals - please tell me how?
and when?
Answers
2704 points
EthanR answered 2 months ago …
The easiest way is probably just to buy the Exchange Traded Fund, or ETF, which is symbol GLD. GLD tracks the price of gold. You can also buy SLV, which is the ETF for silver. Both are still in an uptrend.
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2313 points
Oldman answered 2 months ago …
Be sure to do this in a TAXABLE account...never in a Roth, or IRA. These are considered collectibles, and will disqualify a tax-sheltered account. The only bullion you can hold in a sheltered account is U.S. minted currency.
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BoxCar answered one month ago …
Google "Monex" and order their free DVDs on Silver and Gold to get informed on the
inflationary risks the US faces. Can't just print more money to buy our way out of things.
421 points
alanj answered one month ago …
Open up an account with a commodities brokerage firm. You can then trade several types of precious metals using futures contracts or options on futures contracts.
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mjrenn answered one month ago …
Ethan has a good answer.
You should sign up for Warren Bevan's free newsletter:
http://www.preciousmetalstockreview.com/
482 points
jillybeansisme answered one month ago …
I used to work in the administrative side of MidAmerica Commodity Exchange in Chicago. You need to know what you are doing in trading futures contracts. You absolutely do not want to end up taking delivery because you didn't close out a position in a timely fashion. In addition, futures contracts are highly risky. I've seen people have $16 million losses in hours. What is your risk tolerance. Would you know if your account was being churned?
I would highly recommend staying out of futures trading and simply buy ETFs or individual stocks. For example, IPSU -- Imperial Sugar (which I do own some stock) and there are ETFs or various stocks for metals that you could buy.
Please be very careful because you could lose everything in one trading session in futures contracts.
