What is the best way to invest in gold?

What is the best way to invest in gold? Should I get a gold through a broker or have gold coins? I've heard that if I get gold through a broker, it will be compared to the dollar. So if the dollar goes down then the price of my gold would drop. However I've heard the safest way to go is to have gold coins. Is any of this true?

Public Comments

1. by GLD on the new york stock exchange. it tracks the price of gold. Unless you think the world is coming to an end, then I am not sure what the point of buying physical gold is. There are heacy commission in buying and selling physical gold, not to mention the non liquid market.
2. if u are a short time investor, then through commodity exchange. for long term buy gold bar. getting in physical form rises the cost of buying as it includes making charges, taxes etc. Commodity exchanges are safe. you can go for something like gold exchange traded fund, as now popular in India.
3. Actually, the price of gold is independant from any currency. However, if the price of the dollar goes down (asuming you're American) you will get MORE dollars for your gold, because the dollar is worth less. If the dollar goes up, you get less money for your gold. This only counts if you buy it through the exchange. You can either buy gold in Bullion or Coins, where you can take your gold home in a bag (or, more sensible, to the bank). You can also buy gold in Exchange-traded funds. In this case, you own the gold, but don't the problems of actually looking after it, or worry about purity etc. However, this gold does not have a collectors value like gold coins. you do this by buying GLD on the stock exchange. With GLD, each share is priced at about one-tenth the price of gold bullion. If gold goes to $600 an ounce, then the price of a share should be about $60 Alternatively, you can invest in a mining company, but that requires quite a lot of effort and investigation. Unless you happen to have a few hundred thousand dollar around, in which case you probably won't be asking advice here, I suggest physically buying gold from an authorised seller (see source). There is generally a minimum you have to buy, but it's far less money then opening an exchange account. You also have to pay a little comission, but it's not very much. I suggest buying coins, rather then bullion, because of their collectors value increase, in addition to the gold price. So if the price of gold suddenly plummets, your coins will still be worth something to a coin collector.
4. Central Fund of Canada (American Stock Exchange: CEF) holds nothing but gold & silver bullion so you get exposure to the physical, and you don't have to worry about storage/delivery/insurance. One poster on a web board said he was told to only buy bars (Bullion) from Englehard and Johnson Matthey. They are the most recognized dealers. also try on the web: www.bulliondirect.com and www.tulving.com. and www.kitgo.com also www.gold-eagle.com The above is information I have collected from about 2 or 3 years ago. A bit more current: Jim Jubak, a columnist with msn.com and on TV, says iShares Comex Gold Trust (symbol IAU) also holds only gold.
5. You have to understand your reason for buying gold. 1..... if you think the end of the world's financial system is coming to an end. you buy Gold Bullion or 99.99% pure gold coins 2. ....If you are buying to make money and want to go up as the price of gold goes up, and protect yourself from your own currency devaluating, you buy a gold ETF like "GLD" 3. If you want to make better returns on your gold investments, Buy a gold mutual fund that invests in shares of gold producing companies. This will give you better leverage if the price of gold goes up. I normally buy gold mutual funds, at the moment I have none...because a couple of good analysts say there is a good possiblity that gold will correct to between $600-$650USD, before it has a chance to raise substantially higher from $950 Level.
6. Exchange traded funds or stocks in mining.......but theres alot of hype about Gold & its at an all time high, the best idea is to buy the opposite way ......what everyone is selling like financials or property
7. Personally, I am not a fan of precious metals. Historically they are a terrible long-term investment. However, I have invested in precious metals through ETF's. I listed a source that may give you a few more options. Good Luck
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