What's the best way to invest in gold? Dan Burrows, Senior Writer at DailyFinance, goes out on the street to find out what passers-by think and then weighs in with his own advice. It's timely because gold just hit a record high on Tuesday of $1,422 per ounce as Robert Zoellick, the president of the World Bank, suggested a return to a modified global gold standard. Gold's rise has been fueled recently by worries over inflation, the sovereign debt crisis in Europe and by a move out of the weak U.S. dollar. If you think gold is heading higher, this quick video offers some practical investing advice.

Increase your money and finance knowledge from home

What is Short Selling?

Make a profit when stocks prices fall.

View Course »

Introduction to Preferred Shares

Learn the difference between preferred and common shares.

View Course »

Add a Comment

*0 / 3000 Character Maximum

24 Comments

Filter by:
BUFFALO

That was pretty sorry advice! Don't buy gold coinage because its heavy? The only kind of gold I want to trade is US bullion coinage like a $50 double eagle or $50 buffalo.It is the most liquid form of gold and buyers pay a premium for it. I can turn a $50 eagle into cash with in minutes try that with paper Etf's I can buy it for cash and sell it for cash try that with paper Etf's I can trade it anywhere in the world try that with paper Etf's Market guys hate physical gold with a passion thats why they are trying to sell you paper because you need them to trade it.

November 13 2010 at 2:51 PM Report abuse +1 rate up rate down Reply
avdltd

Etf's? There is 100 times as much "paper" gold as there is physical gold. How does that pencil out?

November 12 2010 at 8:54 AM Report abuse rate up rate down Reply
usgoldandsilver

The stock brokers want you to buy paper........ so they can use your money and try and convince you to buy paper...paper.

November 10 2010 at 4:28 AM Report abuse rate up rate down Reply
usgoldandsilver

I suggest you put the actual asset in your possession....if all hell breaks loose what good will having paper do for you. I strongly suggest that you buy silver or gold and put it in your possession and portect your family.

November 10 2010 at 4:26 AM Report abuse +1 rate up rate down Reply
Check N V S B

Back in 83 I got a Degree in mining engineering . Off & on for the next 15 years I was in and out of gold mining ( and silver & molyebdinum , & Borates ) in Montana, Alaska & Nevada . I rememeber prices like 380 $/oz . Then in 99 I left the mining industry . Back then all I was worth was 4 or 5 K/mo . I'm wondering now what a resume like that is worth .

November 09 2010 at 10:17 PM Report abuse rate up rate down Reply
ronsjigslures123

Another tip in buying any amount of gold or silver coins is to NEVER keep them in your home. You can loose the ,oney threw a fire or robbery, Bank Save deposit boxes are really cheap at you local bank, and they come in small and large boxes, always invest in safty deposit boxes when hording this stuff, no one can go into them without signing in and with out a key, and the boxes are in a valt in the banks, this is a very safe place for any hord of your investment, and you can sign yourself in and out of these boxes any time you want during banking hours.

November 09 2010 at 9:12 PM Report abuse +1 rate up rate down Reply
eyecynical

Joe, don't you think the Feds would be all over Beck and or the gold co. he does commercials for if they had done something illegal????............And another thing, if gold is such a loser then why are George Soros, China, and India buying up as much of the stuff as they can???? could it be b/c the value of the US dollar continues to fall and gold and silver can always be exchanged for another currency.

November 09 2010 at 8:59 PM Report abuse +1 rate up rate down Reply
ronsjigslures123

I purchased 400 high grade Pladdium coins Last year from the mint some in the USA and some in Canada each were one certified oz. each, each one of those coins have gone up 250 bucks EACH since my purchase, i also purchase a load of Canada 99.99% pure silver maple leaf coins that are one oz., they are selling for over 30 bucks each coin today. I belive that Pladdium will reach 1 Grand a oz with no trouble in the next 1 1/2 years, and silver will with out any doubt will reach, just under 100 buck a oz or even 120 bucks a oz., better have some or you will be kicking yourself.

November 09 2010 at 8:57 PM Report abuse +1 rate up rate down Reply
eyecynical

I tend to agree with Julian, that an ounce of physical gold is never worth zero vs. the ETF piece of paper which can easily be worth zero..........I think it's wise for the average person to own a small amount of physical gold and/or silver in case the US ever has it's own Wiemar Republic event. Hey, if things improve and the dollar gets stronger, then you can always leave the gold to your heirs.

November 09 2010 at 8:49 PM Report abuse +1 rate up rate down Reply
ronsjigslures123

Gold has been GOOD to a lot of people in last 3 years, but i belive the real market is in the poor mans gold, silver and pladdium. Buying silver even now at the price it is at now will returm MORE than half your money spent in the next 1 year. Pladdium HAS GONE up over 250 bucks a oz IN JUST A FEW SHORT MONTHS. Thats a lot of profit if you bought a lot of them even six months ago. Have all your silver bars tested and the coins and pladdium, if you buy troy bags in troy pounds of 90% silver coins before 1964 and 64 check the dates before you sell them for melt price. Right now the small investor should be buying all the old silver coins they can get there hands on, silver will reach SPOT price of 70 to 80 bucks a oz. in the next YEAR.

November 09 2010 at 8:48 PM Report abuse +1 rate up rate down Reply