Gold And Silver Mutual Funds
We have all had questions on Gold And Silver Mutual Funds before. Below are the top questions posed by visitors just like you to our. We hope our answers located below will help you solve your funding problems today. Feel free to ask another question, or even comment on what has been written.
There has been a lot of debate recently regarding Gold And Silver Mutual Funds, and it is therefore critical for you, the reader, to grab all of the information that is out there on the vast topic of funding. Your funding can have a huge impact on your future, so don’t procrastinate any longer. Read up on Gold And Silver Mutual Funds today!
Becky Said:
Gold, platinum and silver as investments?We Answered:
If you assume the worse and the end is coming then you are correct about ETF's and mutual funds. If you just want to diversify your investment portfolio then ETF's and mutual funds would be good ways to go. Gold coins are a play on the metal itself and diversified ETF's and mutual funds are more a play on the precious metals industry and the companies in it.I myself prefer collector coins but then I am a numismatist.
Marie Said:
Where do i buy bonds a savings?We Answered:
You can buy these through etrade.com, etc. You can also contact a financial advisor.Clarence Said:
Silver and Gold IRA, how do i go about finding a company?We Answered:
Sterling Trust and GoldStar are custodian's that are approved since the 1970's to hold physical silver and gold inside an IRA account. They don't sell metals so you will need to find a company that can walk you through the paperwork to make sure its done correctly. Both companies charge $250.00 for the first year and $200 per year after that. They also use the same depository for storage but Goldstar charges an extra $100.00 for segregation of your silver and gold IRA assets.Since the companies above act just as a trust company you will need a dealer or metals exchange that can help and answer questions. Certified Gold Exchange is the best at this IRA thing which may be complicated for a ma and pa shop to handle. Kitco is also reputable and experienced but charges about 15 dollars more per ounce for the American eagles. Certified Gold Exchange is a large volume ($15,000 for IRA transfers to gold or silver) discounter of metals and Kitco will deal with any size account. Always check on the company you choose with the bbb so you can spot complaint patterns. Certified Gold Exchange zero and Kitco has 10. I have made good money with proof coins inside my IRA the last three years. Good luck!
Brittany Said:
Where can I keep my money besides U.S. banks?We Answered:
You could try British foreign currency cards, but they are not designed for this sort of thing. Banks are usually pretty sound. UK banks are insured for the first £35,000 and that is going up to 50 soon. Don't use online gold companies. Most of them are either a scam or one step ahead of the IRS, FBI or DEA. When they catch them for money laundering they usually seize all the assets and you don't get your money back. Try online accounts from other banks. Again check they are not a scam. Swiss banks will be very unkeen on US persons having accounts. Check whichever bank you use is registered with its regulator. I recommend British banks as I know them to be pretty sound, and well insured. Check them with the Financial Services Authority. If its solvency that makes you worried about US banks, just check you are with an FDIC bank and have less the $100,00Jonathan Said:
Is it possible to invest in 401k using precious metal commodity?We Answered:
It's improbable that your 401k plan is going to offer something like that. Few people invest in precious metal funds, so your employer isn't going to spend money to offer it. I'm not sure that they're even allowed to offer direct purchases of precious metals.You may be able to do it through an IRA and you can definitely do it through a taxable account. Check with some IRA providers and see if anyone offers a brokerage option that includes precious metals.
The bulk of your question is difficult to understand. (Try a little punctuation, please!) However, I think that you're asking how returns work on precious metals as compared to savings accounts.
Precious metals do not pay interest and nothing is compounded. You buy them at the current market price and sell them at the market price in effect at the time of the sale. If the price has gone up when you sell, you've made a profit. If the price has gone down, you've lost money. Precious metal mutual funds usually invest in mining companies, not the actual metals. Returns work similarly except that you will likely have capital gains distributions and possibly dividends.
If you want compound interest, open a savings account or buy some CDs.
By the way, precious metals are speculative. If you need to ask how price appreciation works, you may want to think twice about buying these. They're best suited for sophisticated investors with risk capital.