1-Year Gold Price in US Dollars
Despite having a history spanning thousands of years, many people in western nations today simply don’t view gold as money. Their financial advisers have told them that gold is just a piece of metal and the news consistently portrays it in a negative light, despite banks themselves treating it as money and holding reserves of it. It’s no wonder there’s so much confusion surrounding gold and precious metals in general.
A deeper understanding of what money is would be ideal before continuing, but there are other resources available. For anyone looking to gain financial protection, this is a straightforward guide to doing so. Essentially, it is imperative that everyone own some amount of gold, even if it’s only one ounce.
It is strongly recommended that you read Peter Schiff’s information about gold scams before proceeding.
Disclaimer: any advice offered here should only be acted upon after performing your own due diligence; these are recommendations based upon the author’s own activities and investments.
It is said that possession is 9/10ths of the law. This is very true of gold. Physical bullion in your hand is the best option by far. These physical bullion dealers are reputable and provide excellent service:
Those listed above are recommended from experience. There are additional precious metals dealers available from GATA. Developing a relationship with a quality firm leading to repeat business is a primary way to avoid being taken advantage of.
Holding physical gold on your person and in your home does carry risks, such as theft or loss. This can be mitigated to a certain degree by using a safe or buying insurance. To fill the need for security beyond having the metal on-hand, there are storage accounts available. However, not all are created equal. Avoid any “unallocated” holdings – only use “allocated” accounts.
GoldMoney (this site is a GoldMoney affiliate)
Those are the only services currently recommended.
After securing your physical metal, you may have funds in a brokerage or retirement account that you wish to remain more liquid. Whether those assets are to be used for trading or other investment purposes, they should not impact your core physical metal holdings whatsoever. Most mutual and exchange-traded funds (ETFs) such as GLD should be avoided unless trading options on them (and if you’re trading options, you probably don’t need to use this guide).
Sprott Asset Management runs two funds backed by physical metal:
In addition to those physical bullion funds, there are two recommended mutual funds, in order of preference:
The Gabelli Global Gold, Natural Resources & Income Trust
Other methods of investing in precious metals exist, but the above solutions provide the vast majority of necessary exposure. If not keeping all of your investable wealth in physical metal, these solutions will cover the vast majority of individual needs. Feel free to email info@noblenomads.com to request further information.
Gold is a foundation of freedom; it will protect your wealth when nothing else will.
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