I have a girl who's almost a year old. During the next years I would buy her gold from time to time. But I want to know what would be the best way? Whent to buy? Sell? And how to manage gold investment?
I have a girl who's almost a year old. During the next years I would buy her gold from time to time. But I want to know what would be the best way? Whent to buy? Sell? And how to manage gold investment?
Well unfortunately you have two bots or something like that answering your questions, plus one stupid answer so far, so I shall try to be helpful..
Gold, less so than silver [IMHO], and PGM [platinum group metals], and perhaps copper, offer potential for gain. Energy also has great potential. If you live in Canada, start an RESP for your child. If in the USA, start a Roth IRA.
Actual commodities are available thru ETF's. I DO NOT ADVISE buying only ONE.
Learning Where and WHEN to sell, is the key.
Gold is best bought when everyone is feeling good and ok.
Sell it when everyone is scared. Be greedy when everyone is scared, and scared when everyone is greedy.
From a rule driven point of view, you need both diversity and balance. If one Roth IRA [you can have as many as you want, limited by total contributions however] is to be resource driven, probably buy ETFs in the energy field right after crude, natural gas or gasoline prices have dropped, lacking any better indicator. Buy gold or metal before elections when the Govts are trying to make people feel good. Sell them [at least in part] in times of International crises.
In your "resource driven" Roth IRA, include miners and or ETF's including, energy, silver, copper, and say, potash fertilzers [ethanol & bio-diesel plays].
If you engage a Roth IRA in a conventional type portfolio, include a health/food stock, a utility, an energy trust, a natural resouce company [minerals], and an insurance or financial stock.
Before you make the final selection of stocks, run them thru some filters based on KEY STATISTIC ratios found in Yahoo Finance.
If you wish more info, please check my previous answers and they will outline some other ideas.
Good Luck taking care of your daughter.
You can mail me thru answers if you need more help.