has anyone bought gold for investment?

[joshmamabear]

where is the safest place to buy them? pawnshops? banks? online sites?

how can you be sure you are buying 24 ct gold? is it also wise to invest in silver?

where is the best place to find gold coins? anyone know how much the current going rate is?

thanks!

[latamama]

This isn't a bad thought, anyone with information???

[vogt0047]

pan american mint is a good place to purchase gold bullion. I would recommend at this point to invest in silver. The value per oz is much lower and it is at relatively low value compared to the dollar. gold is high right now and not really the best time to purchase it.

[Dengineer]

DH and I bought gold in 1999 and 2000 when it was about $275 an ounce. Like the PP, my advice would be to not buy gold at this point. Maybe I'm not too bright but I think you're supposed to BUY LOW, SELL HIGH, and the price of gold is WAY high right now. That being said no one knows what the price of gold might do, but chances are it's not going to double anytime soon. JMO!

[lillyun]

I would definitely say do NOT buy gold right now. It is at it's peak. Back in the 80's gold was around $800 and it fell to $275 in the late '90s and early 00's. For a few years the price hovered at around $400 so that is why I wouldn't buy gold now for any more than $400...anything much higher seems like a losing investment.

[vasmom]

But our dollar value has been dropping and it may get worse. And gold price is getting higher and higher and some experts are recommending buying.

What else to buy besides gold? Would appreciate your thoughts.

[lburgess]

I have bought since 2001 when Dr. Gary North advised all his subscribers to buy. It may go up more or it may not, it may go down like it did in Jan 1980. I hold gold only because it is a storage of wealth. Only buy if you are storing wealth. You need to understand it for what it is and don't consider it as a specultion. As a rule gold and most other comodities loose during a recession.

I buy from Franklin Sanders at the Moneychanger.com. If you buy only buy physical, there may be a Comex default. Take delivery!!! One other thing, if you have debt I wouldn't buy gold, I would pay down debt. If we do have a deflationary depression and a further contraction in credit (it could go either way at this point) then you will have issues addressing debt and there may not be anyone buying gold.

I would research the run up of gold in 1979 and it's fall in 1980 and ask yourself if you can afford to hold it long enough for it to go up in price again. Gold went from its high of $850 in 1980 to its low in 2001 of $276 People that bought the first part of Jan 1980 had to hold gold 27 years before they saw it hit $850 again. The same thing happened with silver but the Hunt Brothers had a little to do with that. If you are thinking of it as a speculative investment I would consider these facts. I would advise you to read Dr. Gary North's "Gold Wars" and understand what gold is before you act. I think it is downloadable for free on his site.

The FED is increasing the money supply which should result in inflation but in the same token the FED could pull back these funds and tighten the money supply, like they did in 1980 with Paul Voulker and gold could plummet. I could go on forever on this but if I were you I would do my own research and make an informed decision.