Question by ConZ: How much does investing gold actually cost?
I was browsing around for a friend of mine..
he needed to know about the worlds no.1 supposely to be bank, the swiss bank..
then i came across the gold investment thingy they had and kinda got stuck there for awhile..

my question is..
how much does gold actually cost?..
ppl say invest in real gold, its profitable.. is dat true?.. why?.. how?..
if i do buy them from swissbank, how much does it cost + rental on he safe deposit box?..

sorry,, kinda really naive in this field..
wud appreciate it if anyone cud help..

Best answer:

Answer by bob shark
Don't know what country you are in, so rules on owning gold and taxes might be different from what I am used to.

But.....

Gold is the universal method of holding and storing wealth.
All currencies are just peices of paper or electronic bits, that depend on peoples willingness to hold them, to keep their value..in themselves, there are as valuable as scrap paper.

Gold is accepted everywhere and there is no dispute on it's desirability.

Gold is going up in "price" because Governments are devaluating their currency for trade and deficit reasons. so Gold is moving up compared to currencies.

Gold costs whatever two people agree to buy/sell/ compared to the currency traded. On Friday Apr 27 Gold closed at 8.90 USD per ounce,

Gold is used as an insurance policy to insure against catostrophic collapse in financial markets, but It is not necessarily good to "invest in"

You buy 99.99% gold bullion or 99.99% gold coins for insurance against financial upheaval.

You invest in Shares of Gold producing companines,if you think gold is going up in price as the shares of these companies will increase at a higher rate that the actual increase in gold..

The best way to invest in the Increase in Gold prices is to buy a Gold mutual fund. These funds invest in many different gold companies and this gives diversification in this sector.

So If you beleive in Gold, Buy gold company shares or a Precious metals mutual fund.

DO NOT INVEST THROUGH INTERNET OFFERINGS.

What do you think? Answer below!
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