Jonathan Campbell
Research for Empowerment and Survival
W. Edwards Deming (1900-1993)
Helping people take charge of their lives
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Gold analysts are now estimating that the price of gold is likely to rise to $1000 or more by the end of 2008. However, it will still be volatile – it is not a good short-term investment. And never – and I do mean never – buy into gold “financing” (sometimes called buying and selling using a “margin” account) such as Monex’s Atlas Account. This is gold speculating, and if the price drops – and it will occasionally as someone tries to dump some into the market – you’ll lose everything.
To purchase gold and other precious metals (silver, platinum, or palladium) safely: If you have savings and you want to place it in something likely to be more stable than dollars, gold and other precious metals may be the assets of choice. You have many choices of how to buy your precious metals, but I recommend these two, both available from Kitco. Based in Canada, it is one of the largest and most reliable, convenient, and dependable precious metals dealers in North America, and they don’t sell any speculative scams. You can order online or over the phone. Their customer service is superb.
1. To purchase gold quickly and easily and not hold the physical assets, open a Royal Canadian Mint Account at http://www.kitco.com. The advantage is that you don’t need to pay shipping, handling, and insurance, and you don’t need to figure out where to store the gold safely. It is stored for you at the Mint for a flat fee of $60 per year (for all of your holdings) and there is a transaction fee of $25 per transaction. Click on Precious Metal Store, and then click on the button for the Royal Canadian Mint Account.
2. If you want to buy the physical assets (to be stored in a bank safe deposit box or at a commercial depository, never in your home!), you can purchase gold and other precious metals directly from Kitco. Just go to their website, http://www.kitco.com, go the Precious Metal Store, and click on Complete Bullion Products. The most convenient and saleable product is the one-ounce gold bar. Kitco’s price for gold is about $10 above the market price, and then you’ll also need to pay shipping, handling, and insurance, which can be as much as $50-$60, so unless you are getting a large amount – five ounces or more – the cost of this option eats into your investment. Kitco can also deposit your bullion at a depository on your behalf, which saves on shipping and insurance, but you will need to pay an annual storage fee.
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Standard Disclaimer: The information above, Bad Moon Rising Alerts, and the Bad Moon Rising Survival Guides do not constitute financial advice, but are condensations and distillations of the work of others and a few words of what I believe to be common sense. Please seek out an independent licensed accountant or financial advisor to review the information and references I have provided as well as their own expert knowledge, in order to tailor a financial plan to your circumstances. I cannot be held responsible for the consequences of decisions made based on the information I provide. If I suggest that you stop playing the lottery to save money and your number comes up, don't blame me.
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Jonathan Campbell
Research for Empowerment and Survival
43 Boynton Street, S. 2R
Boston, MA 02130-3263
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