sell gold scrap prices
how do you invest in gold or silver?
I was wondering where you buy the gold and then where would you sell the gold for a good price?
is it mostly just scrap gold and silver that is bough and sold?
There are several ways to invest. No, it is not mostly scrap gold and silver that is bought and sold. Forget the TV ads. Most people buy and sell using an investment company (either a stock broker type or a precious metals company).
The types of investment are the following:
1. Collectible coins. – It is best not to try this without knowledge of the subject. Use a reputable dealer as listed below for bullion coins.
2. Bullion Coins – You can buy these by mail from a reputable dealer. (Blanchard, Investment Rarities, etc.) I shy away from the ones that advertise on TV. The better companies advertise in financial magazines.
3. Stock or mutual funds dealing with bullion production or mining. Check out stock symbol: ABX & UXG for gold HL for silver. (HL has not performed well in the past 2 months.)
4. Stock in a reputable company that buys and maintains gold and silver in their vault. Example : CEF
CAUTION: Gold and silver are volatile and you will see the price go up and down. Mining stocks are even more volatile. Start with an amount that you could risk loosing 25% of its value without hurting yourself.
I invest in gold stock and mutual funds and make good profits. But I do not use the buy and hold strategy. Some people do.
My strategy is pretty basic but it works for me. I try to buy after prices have fallen some and sell when I can make 10% to 15%. I recently made a little over 25 % on a mining stock. I have also sold at a 30% loss before I learned to sell quick to take my profits and cut losses.
Start slowly. Go with the price trends. Sell quick to cut your losses and take advantage of profits.
Use Yahoo Finance to do your research. I like to watch the 3 month graph of the price of a stock.
I also do all my gold and silver trading from an IRA to keep the profits from being eaten up by taxes and to simplify record keeping. If you want to buy and sell stock or mutual funds, I recommend Charles Schwab, eTrade or other discount broker.
Good luck.
Scrap Gold at Cookson Gold
PRECIOUS-Gold edges up, near 1-1/2-month high
PRECIOUS-Gold edges up, near 1-1/2-month high
The price of gold is linked to how strong the US dollar is. sell gold scrap prices Because of the great increase of gold over the last ten years, many investors believe it is a good time to buy and speculate. sell gold scrap prices But remember that gold is a commodity, and doesn”t sit and earn interest like a bond in the bank.