Which precious metal(s) to invest in?

[helix_rider]

If I was to invest more in precious metals (Gold, Silver, Platinum, etc) which would be the safest investment?

I'm leaning away from Platinum due to the price, but Gold and especially Silver are doable. I'm not looking at retirement-type savings here, just a supplement to the portfolio.

I also notice that people are now buying Copper bullion bars/rounds/coins since Copper has come up in price as well. Since I don't have an entire storage building to keep precious metals in, I don't see the space/weight benefit from Copper at it's current price. However, Silver is what i've started on and am currently most interested in.

Any comments/tips/suggestions? What are some of you guys/gals investing in (metals)?

 

[Chris142]

Gold is $1400 an ounce! And the sellers get even more for it. Guy across the street from my work sells Gold and Silver. He thinks silver is going to go up.

He had about 50 1oz Gold coins on his desk when I walked in there last week. He sells you a coin and not a piece of paper.

I cant afford even 1 ounce of Gold so I'm buying Silver coins from him.

Plus I brought back a whole bunch of Silver Ore yesterday.

 

[eljefino]

If you buy house wire (Romex) its price follows copper closely, everyone uses the stuff, and everyone knows what it sells for at Home depot, lowes, etc.

 

[Spazdog]

Why would anybody be considering gold now?

The old adage goes, "Buy low, sell high."

 

[Y_K]

Good contrarian indicator, when general public is into some asset class. At first, they create a fad, and then the bubble bursts. Takes a good while though. No matter what Boomers touch they create a fad..

 

[wallyuwl]

Originally Posted By: Spazdog
Why would anybody be considering gold now?

The old adage goes, "Buy low, sell high."


Because gold is cheap compared to what it will be. The fed just announced it will print another $600 billion by April, on top of the $1.7 trillion it has printed in the last two years. Inflation is coming. So gold (and other commodities) will go up sharply. Gold in particular, though, seems to be in high demand by both investors and nations. It is quickly turning into the world's reserve currenty, instead of the US dollar.

 

[Hallmark]

Buy uranium...and check out PLM stock, the largest undeveloped poly-metallic deposit in the world, located safely in Michigan.

 

[Spyder7]

When the value of the US dollar becomes shaky, or is about to decline, gold prices increase and that's the best time to buy it. Right before the war with Iraq, with so much commodity speculation going on at the time, a killing could be made on it.

Right now with the US dollar being weak, China having just downgraded the US credit rating from AA to A-plus, and the country in the middle of a recession, this is an ideal time to own gold but far from the best time to buy gold - unless you think this is the tip of the iceberg and all of those things are going to get better before they get worse.

Personally, where I think just like the economy, gold also fluctuates in cycles that closely parallel it. I wouldn't buy gold right now - my opinion. I'd buy it when the economy recovers and the price comes down again.

This is a different kind of buyer's economy IMHO. Lots of undervalued stocks, bonds, and real estate out there and now is a better time to look to that than commodities. JMHO.

-Spyder

 

[cbear]

Gold or Silver will serve you well, but it should be part of your whole porfolio. It's there to balance out when your other investments dip.

Right now Platinum is only $300 more an once than gold. A few months ago when gold was going up and platinum down, they were pretty close in price. I would have gotten some platinum then if I had the cash.

 

[JHZR2]

If you have to ask you probably shouldnt.

 

[helix_rider]

Originally Posted By: JHZR2
If you have to ask you probably shouldnt.


Please read my first post - i'm not asking if it's a good idea. Metals will always be worth something reguardless of what paper money becomes/is worth. I'm already investing in Silver - not a spur of the moment idea.

I am simply wondering what some others on here are doing. The web is full of contradicting information, try my question in a search engine and you'd be amazed at the different ideas/thoughts about investing in metals.

 

[salesrep]

Real gold.
Gold futures.
and a precious metal closed end mutual fund.

 

[yeti]

helix -- in your OP, you asked for "any comments/tips/suggestions ?" jhzr2 responded accordingly.since you are a veteran member of about 3 weeks, it would be wise to show respect to senior members,(jhz, a member for 8 YEARS) if you want respect, and answers to your posts.as you can see, no one has responded since early this morning.
at any rate, the smart money got into gold/silver about 2 years ago.when the financial/mortgage bee sss hit the fan -- that was the time to be in precious metals.when the economy is good - that's the time to load up.i got into silver when it was about $7.50/oz. and now i wait.REE's (rare earth elements) are good to get into now.do your DD, and good luck.
since you're a rookie, i'll throw you one --HUD - (tsx-v). i've doubled my $$$ since early summer.go to stockhouse, and check it out.it is VERY promising.again, do your DD.
welcome to the site, and have a good night.

 

[Scienceman]

I would not invest in any of them...

 

[helix_rider]

Originally Posted By: yeti
helix -- in your OP, you asked for "any comments/tips/suggestions ?" jhzr2 responded accordingly.


Sir, you are correct. JHZR2 - please accept my humble apology. I am sorry for the sharpness of my response and I hope that there are no hard feelings. I could've/should've worded my response very differently. I was wrong and that is why I am publicly apologizing - i'm one to openly admit when I am wrong, and this is one of those times.


Anyway, Yes I realize that with prices up it's not the best buyer's market. But, what if this is only the beginning? What if prices of precious metals continue to rise? Then I will have missed out on more than I already have.

Even if I do buy now and the price drops later, in time the prices will go back up, i'll just have to be patient.

 

[Tom NJ]

Vanguard Precious Metals and Mining (VGPMX) is a low cost mutual fund that owns mining stocks for several different precious metals, including gold, platinum, paladium, etc. It has done very well for me over the past 10 years and is a core holding in my portfolio. I use it as a proxy play on the weakening dollar and Asian growth.

Tom NJ

 

[helix_rider]

Thank you all for the comments/suggestions. Please let's not turn this into a political thread (I understand wally) as it's not the intention of any of the posters here.

It's not a problem for me personally, but I want us all to follow the rules and not have this thread get locked.

Tom - I never really considered mutual funds or stocks related to the mining industry, but it makes sense and I can see the logic in such an investment.

 

[Pablo]

Watch the behavior of the gold (and other precious metal) mining stocks.

These stocks had an OK run up. I profited handsomely.

Right now they are as nervous as a roach in a gourmet cooking school. I cannot exactly predict the next move, but it doesn't seem like everyone is jumping on these companies....who can extract gold for $300-$700 an ounce and sell it for $1300+. I know that's an oversimplification, but I sold most all my mining stocks and gold ETF's.

 

[Kestas]

Oppenheimer Gold & Minerals (OGMBX) is another mutual fund to consider for precious metals investment.

 

[yeti]

helix -- gold/silver will, obviously, fluctuate over time. the many trillions of u.s. debt, household debt to disposable income ratio, budget deficits, to name a few, HAS to eventually come back to bite the collective butts of the u.s., and eventually the rest of the world.the only way to deal with this is for the u.s. to cut spending (services) and raise taxes.inflation, sinking economy,and job losses are the results.
these issues point to a sharp increase in precious metal prices.investors looking at buying in now will eventually make money, just not as much as if they had been in a couple of years ago.
i have silver, as gold is too costly, and there's more potential for making money per dollar invested.as well, the REE stocks have huge potential, if one does his DD, and gets in quickly, while these stocks are still cheap.
i went into detail for a reason.
one has to explain himself in detail on bitog, depending on the subject, or you'll have the inevitable replies -- "are you saying that ...?", or "do you mean that ... ?" -- since many just do not understand what they read.
at any rate, good luck on whatever you decide.