What do you recommend for someone who knows the value of gold but doesn’t want to pile up thousands of dollars in gold coins? Who can you trust as an honest broker who won’t rip you off? I have about 50K I’d like to put in to gold but am totally clueless.
Free advice: Find a stock or etf where the physical gold is in their vault. I have found a couple from Canada. They are traded on the open market. Do your due diligence.
There are gold ETF’s - and gold funds - Franklin Templeton has a nice Gold Fund - Year to Date return as of November 5th was 46.3%.
Vanguard has a Precious Metals Fund - Year to Date return was 31.3%. It’s never a good idea to put all your eggs in one basket... but both these funds strike me as trustworthy. I’m invested in both of them...
“”What do you recommend for someone who knows the value of gold but doesnt want to pile up thousands of dollars in gold coins? Who can you trust as an honest broker who wont rip you off? I have about 50K Id like to put in to gold but am totally clueless.””
I have some physical and also own GTU and CEF Unlike GLD and SLV they have actual bullion that’s audited on a regular basis and are considered closed end funds so are Taxed at the capital gains rate and not the collectible rate. The bullion is held in Canada so might be an advantage or disadvantage depending on how you feel about it.
Sprott Has two funds that also hold Physical and will send it to you on request. Canadian also.
New energy sources will be slow to come online and maybe better long term I like oil MLP’s at the moment and may convert some PM’s there.
Hard call’s but I believe hard assets in things that people need are obvious for wealth preservation. Trick is timing and asset choice
There are gold ETF’s - and gold funds - Franklin Templeton has a nice Gold Fund (FGADX)- Year to Date return as of November 5th was 46.3%.
Vanguard has a Precious Metals Fund (VGPMX) - Year to Date return: 31.3%. It’s never a good idea to put all your eggs in one basket... but both these funds strike me as trustworthy. I’m invested in both of them...
Here’s a nice site to check out mutual funds: