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$600 Gold Investment? |
I have $600 I would like to invest in gold? Can someone tell me how much gold I can buy with an exact figure? How much will gold have to be to double in price/value ($1200)? Serious answers only. Thank you in advance for answering and remember best answer is 10 points. Exclude all dealing charges please in your calculations. With the current price of gold at approximately I would suggest buying 3 shares of GLD (an exchange traded fund that hold gold). This would cost a little under $300 plus commission (discount brokerage house commission $8-$10). If the price of gold drops to $850 the old breakout price I would buy another 3 shares. It is the best way to enter the gold market at this time. The price of gold has had a general steady downward trend since the 1980s, though it has picked up a little lately. I find it incredible all this interest in gold now that it's run up from $350 an ounce a few years ago to over $1,000 an ounce today. When do you think was a better to buy gold? Then or now? Why is it that people like to invest in stocks and commodities AFTER they've run up in price. Keep your money in the bank. If gold comes down to $600 or $700 an ounce, it might be a good buy then. It is not a good buy at $1,000 an ounce. |
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