Quote:
Originally Posted by retiredguy123
FYI, I once called a gold coin dealer who advertises on television and asked the question, "if I buy $1,000 worth of gold coins, and then sold them back within a few days, with no change in market value, how much money would I receive? He said I would end up with $920, or 8 percent less. So, if you buy gold coins, the market value would need to increase by 8 percent in the first year just to break even. I don't know if there are more efficient ways to buy and sell gold.
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I would NEVER buy physical GOLD unless I thought an apocalypse was about to break out. But, in the interest of being fully DIVERSIFIED then 5% or so in gold or silver would make some sense. I would look into an ETF for gold or gold or silver mining. I believe that I used to own one with the call letters (GLD).
......A good time to own something like that as opposed to (SPY) would be if you are expecting a recession. Which is something I expect this year.