holla. just found the london ETF in gold. GBS.L.
my one concern though is this:
from moneyweek.com:
Gold Exchange Traded Funds (ETFs):
Stamp duty is applicable and there is an annual administration fee of between 0.4% and 0.5% per annum. Thus every year the amount of gold or silver backing an ETF share shrinks by that amount. This makes them unattractive as a medium or long term way to invest in gold. They are derivative contracts and one does not own or have title to the underlying asset. Thus they are primarily used by day traders, hedge funds and institutional players going long and short and speculating on short term movements in the gold price.
I am thinking of going for this:
Precious Metal Unit Trusts or Mutual Funds
Instead of personally selecting individual shares, some investors spread their risk by investing in collective investment vehicles specialising in investing in the shares of gold mining companies. These include mutual funds, open-ended investment companies (OEICs), closed-end funds, unit trusts. Two of these funds are the
UK-based Gold & General Fund by Merrill Lynch or the Canadian Sprott Gold & Precious Minerals Fund by Sprott Asset Management. There are many precious metal funds in the US but investors assume US dollar currency risk when buying them.
this is it:
http://webfund5.finexprestel.com/ampleis...b--1&hn=www
my only concern is the ETF is up just under 40% in the last 52 weeks yet that fund is down 7.1%. plus fund is 1.75% yearly.
given what ive read gold should be good for at least the next few years.
what do you guys think?
i'm planning to invest heavily in gold, the more i read the better it seems. im thinking of investing around $40K in gold. i have $100K net worth. but i hope to make around $80K this summer through poker, so even if it halfed in value, it would only be a month of online gone, plus i dont think it will.