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owning gold value
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elfinchilde
Elite |
02-Jan-2007 16:08
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hi jinsenlim....when you say 'hold the gold price', do you mean you are buying shares of a gold co/fund like streetracks, or non-allocated gold? If it's the former, you can buy and sell as any other normal shares. Take note tho that just because gold prices go up, doesn't mean that a gold fund's price will always see a proportionate increase. non-allocated gold on the other hand means you buy the cert to the gold, and a bank/other stores the actual gold for you. You need to pay before you receive the gold cert. You'll also have to pay for storage of the gold. The danger here is that you need to find a reputable gold co that isn't going to swallow up your investment, or over-allocate it. the alternative to the two above is allocated gold. i.e., you actually own the physical gold. In which case, you need to buy of purity at least 22 karats; it's worthless otherwise in the trading market. The most easily traded bullion products are gold coins like the canadian maple, american eagle and south african krugerrands, or gold bars (various weights available). These will be sold by purity and weight (measured in troy ounces--dif from normal ounce--usually quoted in US$.). Take note that unless you're selling a large amt, most places won't buy small quantities. go to www.kitco.com. there's a wealth of info available there, as well as gold funds tracked in other countries--if you're using an online broker with access to these countries, you can trade in their shares like a normal co as per their country rulings. website's a bit messy tho. btw, pls take care to factor in the declining US$; it might erode any potential gains you have when you do the currency conversion. good luck! :) |
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jinsenlim
Member |
02-Jan-2007 14:42
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Is it possible to hold the gold price similarly to the stock price. When the price of the gold went up, we can sell it based on the difference. Or is there a time limit, like 3 days later need to settle whatever outstanding? or you must invest a lot, just to own the price? any reliable website to recommend to trade(singapore or other countries) |
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