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I have been thinking about buying some gold bullion for some long term investing.?
I am maxing out my 401k and was thinking about buying a few ounces a year instead of opening an Ira. Any thoughts?
I think you’re making a big mistake….. but as long as you ask;
Open the ROTH IRA (or reg. IRA) at a good on line broker & buy the ETF GLD. You cost of buying the metal will be less than $10, there will be no shipping or storage fees & you can buy and sell in a milli-second. "GLD" is among the top holders of gold in the world. The price of each share moves in relation to the price of gold.
I don’t think gold should be more than 3% of your total portfolio….. but that’s one person’s opinion. Gold bugs have always been around…. sometimes they appear very right….. sometimes they appear totally wrong. Just because "everyone" is talking about it…. doesn’t make it a wise investment choice.
Personally I by and sell gold (GLD) for a few weeks or months at a time.. Right now I’m out of it. I am adding positions in the ETF "GDX" to my portfolio. "GDX" is the ETF for metal miners.
not sure gold is the safest investment. It went up a bit towards the end of last year but now it has its ups and downs.
Here’s some news of gold: "Gold futures were down for a fourth day on Tuesday, tumbling to a ten-week low as mounting optimism over the global economic recovery dimmed the precious metal’s appeal as a safe haven." (futurespros.com)
Also, you can check the current state of gold here: http://www.futurespros.com/metals/gold
Hope you’ll make your decision wisely.
References :
http://www.futurespros.com/news/metals-news/gold-plunges-to-10-week-low-amid-optimism-over-global-recovery-1000006684
http://www.futurespros.com/metals/gold
Can only give this as an amateur.
AND…i can’t answer if its better than an IRA, but i’d stay away from gold right now. You have sometime to figure this out.
Long term it always goes up, but short term it has its ups and downs. April is supposedly the magic month when things are going to be back on track.
I bought silver 2 months after the recession officially started…..i was kicking myself for being hesitant since it had gone up $2 / oz. Well since then it tripled in value. When things go back to normal, its going to atleast be half of what its now. I don’t know how to factor inflation and the impact of industrial demand increasing….etc.
Anything you buy now will eventually take a big hit and the gains won’t be as significant 30-40 years from now.
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Possibly a bit late in the day.
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There is no doubt that investment in gold is the best and safest form of investment. Go for it asap as it is the only investment which is the safest one at this time of financial and economic crisis and people are converting their wealth into gold to make them safe.
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