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Post by jeffolie on Oct 13, 2007 11:11:12 GMT -6
Give me your best guess.
I am looking for these precious metals to go up as the dollar goes down.
I look for silver to double to about $25 by the spring and gold to go up about 50% to about $1100.
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Post by graybeard on Oct 13, 2007 13:52:16 GMT -6
I have about 6% of my IRA in FSAGX, a Fidelity gold mining and holding fund. It has kept pace with the price of gold, at least since I bought in, when gold was $420.
Is there any other way I can invest in gold or silver without withdrawing from my IRA?
GB
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Post by jeffolie on Oct 13, 2007 17:24:16 GMT -6
Buying/selling gold and silver methods depends on how long you intend to hold the investment. Using no-load mutual funds and ETF are good if you are a short term holder. For long term holders then I recommend taking physical possesion. You can find many ways to buy physical silver and gold on the internet and through brick and mortar dealers.
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burx
Contributor
Posts: 11
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Post by burx on Oct 19, 2007 12:16:45 GMT -6
I wouldn't trust banks to hold my gold, they might not even have it, let alone take it in an "emergency" situation.
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Post by jeffolie on Oct 19, 2007 12:30:27 GMT -6
The now known fact that the Fort Knox gold is being loaned out means that gold's price may be suppressed for longer than the gold bugs anticipated. Silver may be a better play.
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Post by unlawflcombatnt on Oct 24, 2007 3:21:52 GMT -6
For long term holders then I recommend taking physical possession. You can find many ways to buy physical silver and gold on the internet and through brick and mortar dealers. You can even buy gold on Ebay, but it is risky and you need to be careful about how you pay for it. Never pay with anything except a credit card. You can cancel a credit card payment if the gold isn't delivered. But you can't do anything if you've already sent a cashier's check, a bank wire, or used a debit card. Many of the Ebay gold sellers are scammers. Just make sure you get your gold delivered before it's too late to cancel your payment, either through Paypal or your credit card. And don't hesitate to file a non-delivery grievance against the seller. There's a time limit to do so. Sometimes filing a non-delivery grievance spurs the seller into delivering your gold. The best place I know of for gold purchasing is California Numismatic in Inglewood, California (near LAX). They have the best prices anywhere, and you can pick your gold up on the spot after payment. They actually have gold on the premises.
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