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Provides an investment alternative for investors interested in holding marketable gold and silver related investments. Invests primarily in long-term holdings of gold and silver bullion.
I have stayed away from Gold and Silver for the longest time because I didn't understand what investing in it meant. However, now I am convinced the global banking system and most advanced economies are essentially screwed. So I am investing in GLD/SLV because the ensuing fear will drive their prices up. The only competition to this was higher interest rates from Fed but at least until 2013 (and more than a decade if you ask me) we won't be seeing major interest rate hikes so basically this is the safest investment I can find at this time. This and shorting bloated stocks :)
If you are interested in exposure to gold and silver, make sure you do your due diligence on GLD/SLV. If you have a significant investement, the fund costs are actually higher than owning physical metal with secure storage through someplace like goldmoney or bulliondirect. Should there be a true currency crisis, make sure you understand what is required to take physical delivery. Do your research on allocated v. unallocated gold/silver and open v. closed funds. Other options you may consider if you like funds over physical metal are CEF and the Sprott funds. Read the prospectus and know what you are buying. There is more than fear driving gold/silver, the world is seeking sound money (a store of value that is more difficult to manipulate). Mr. Market is repricing the worlds currencies in gold and putting the world back on a de facto gold standard.
If you look at the last 3 months, we've gotten as close to armageddon as we possibly could and what did people do? they bought US treasuries that was supposedly worthless compared to gold....I was wrong about gold though I don't really keep track of my picks as you can see from my score :) My conclusion is that gold and silver are good buys in good times.... for the common man to consider these as investment we'd need the world's financial system to completely collapse. That will never happen because all the big economies will print money into oblivion if they have to.
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