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A Guidebook to Investing in Gold
mauldineconomics.com / BY JARED DILLIAN / JUNE 11, 2015
“A gold mine is a hole in the ground with a bunch of liars standing next to it.”
I started investing in gold in 2005. Not a bad time, right?
Here’s why I started: I was the ETF trader at Lehman Brothers at the time. A couple of guys came by to talk about this crazy idea they had about a gold ETF. I think one was from the World Gold Council and the other was from State Street. The WGC guy brought along a 10-ounce bar of gold. At the time, it was worth almost $6,000.
The ETF was SPDR Gold Shares (GLD).(* Please see disclosure below)
I ended up buying GLD, because I’m a trader. Trading stocks is what I do, so it’s easy for me to buy something with a ticker. I didn’t even know you could buy physical gold. It was 2005 or 2006, so I’m not even sure if the online bullion dealers were up and running yet. If you wanted to buy gold, you’d have to be in the know, go to some hole-in-the-wall coin dealer, get your face ripped off.
I have owned GLD since. And along the way, I learned a lot about investing in physical gold, and I bought that, too.
But that’s not the interesting part.
The post A Guidebook to Investing in Gold appeared first on Silver For The People.
Source: http://silveristhenew.com/2015/06/11/a-guidebook-to-investing-in-gold/
