Buy fractional gold, it will be hard to buy a can of beans with a one ounce gold eagle…….
and like the man said fuck paper gold….if you ain’t holding it you don’t own it…….
Don't have a horse in the PM markets, but I have looked into it and I don't see why anyone would want to buy fractional PM's. The mark-ups are very high. In some cases, 2x or more over the 1 ozt. The other thing to look at is what you buy it for (ask) and what you can sell it for (bid).
Those spreads can be a killer......be prepared to hold for a long period of time and hope that you make a profit. Finding a buyer might be a problem, depending on the market.
Where I will grant the purchase of fractional is legit, is that a person can't afford purchase of 1 ozt. and it is the only way to purchase PM's. Silver might be the better way to go for the scenario that you propose.
I have no problem with diversifying by using PM's, but I do have a problem with a commodity that has been manipulated by the big banks (i.e. jp morgan $1B fine for instance) at the wholesale level, and then again at the retail level (spreads).
Hello everyone.
I've decided that long term I want to put 10% of my portfolio into
gold. My question is this - is now the time to do it or would it be the equivalent of closing the stable doors after the horse has bolted according to
Pakeconet? Prices seem high at the moment so I thought it might be better to wait awhile and then drip feed.
I was thinking 5% in an ETF (physical gold) and 5% in Ruffer Gold or Blackrock Gold & General - good or bad idea? Thanks for the advice.
I don't have a problem with ETF's for diversification, but do you really want to further line the pockets of larry FINK at blackrock. Really bad guy to do business with. Also, my concern with the PM etf's is whether they really have the bullion stored and thoroughly audited to show such. One etf has already been caught dirty on this issue.
If you can find an honest and reputable dealer in PM's, I would look at physical possession as opposed to paper. See my comments above.
Paper or possession and the way the rules are written, all of this stuff can be confiscated. So it remains a personal decision on what to do based on what a person sees in their financial/political future