Someone Teach Me About Gold

Discussion in 'Reality Check' started by idrivemyrentsvan, Feb 19, 2009.

  1. idrivemyrentsvan

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    A guy on BNN yesterday said "if Gold's not at $2000 within 3 years I'll shave my head".

    To show you how little I understand about this precious metal, a year ago I would have assumed the value of Gold would drop in a recession (since everyone would be trying to sell their Gold for money so they can survive lol). Now I realize differently (for the past 6 months all I've read about is how Gold is the best way to fight against the debt-ridden dollar and inflation, etc.), but still don't really understand it. Let's say I want to buy some gold, how can I directly buy into the price of gold without buying a physical piece?
     
  2. Majarvis

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    Gold ETFs.
     
  3. N / A

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    could look at :

    Central Fund of Canada

    The Central Fund of Canada (TSX: CEF.A and NYSE: CEF) is a closed-end fund headquartered in Calgary, Alberta, Canada, mandated to keep the bulk of their net assets in a mixture of gold and silver with a small percentage of cash. The custodian of the gold and silver assets is the main Calgary branch of CIBC. As of March 2008, the Central Fund of Canada held 28.48 tonnes of gold and 1423.66 tonnes of silver in storage.

    [edit] Central Gold Trust

    The Central Gold Trust (TSX: GTU.UN, TSX: GTU.U and NYSE: GTU) is a closed-end fund operated by many of the same individuals, and employing many of the same practices, as the Central Fund of Canada. Unlike its sister fund, however, the Central Gold Trust is mandated to keep the bulk of its assets in gold, and does not hold silver. As of March 2008, the Central Gold Trust held 5.21 tons of gold in storage.
     
  4. slouse

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    Everyone on BNN was also urging everyone to buy Oilexco all last summer
     
  5. slouse

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    You can also buy gold bar certificates from somewhere like Scotiabank. The main downtown Scotiabank branch in Toronto is known for selling actual gold bars. You can walk in there with $100k and walk out with the actual gold pieces.
     
  6. Smokey

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    Gold has gone up because its real....When countries are printing money with nothing backing it it's value obviously drops, hence raising the price of gold...
     
  7. thunder

    my av is me

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    I like gooooooold.

    [​IMG]
     
  8. idrivemyrentsvan

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    Silver dropped like a mofo this morning so I just grabbed 2000 shares of CEF.A! Let's hope for $50/ounce silver and $3000/ounce Gold by the end of the year :lol:
     
    Last edited: Mar 31, 2009

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