Gold ?

[Sportin' Wood]

Anyone on here ever bought Gold bullion?
I have a hunch that with the oil prices rising, inflation will go through the roof, and gold will sky rocket. Maybe I'm on crack but I think that we had a spike in gold prices in the late 70's due to the large jump in oil prices. It jumped from like $200.oo an ounce to $850.oo an ounce. Anyone play the gold , or currency market?
I dont have the foggiest idea where to buy bullion. A point in the right direction would be appreciated.

[infotraker]

I do recreational gold hunting , hard to find ! Almost have a ounce after looking for 2 years !!!! Mostly get good exercise.

[Mandelon]

Anyone on here ever bought Gold bullion?
I have a hunch that with the oil prices rising, inflation will go through the roof, and gold will sky rocket. Maybe I'm on crack but I think that we had a spike in gold prices in the late 70's due to the large jump in oil prices. It jumped from like $200.oo an ounce to $850.oo an ounce. Anyone play the gold , or currency market?
I dont have the foggiest idea where to buy bullion. A point in the right direction would be appreciated.
Gold Mining stocks are easier to buy and sell. They follow the price patterns of actual gold pretty closely. You can get bullion, Krugerands and Canadian Coins at local coin shops, but they charge retail and pay wholesale when you go to cash in. Plus you have to worry about it disappearing.....stolen, I mean.
Maybe a precious metals mutual fund might work best....be the most liquid anyway.
Try this link: http://www.schwab.com/public/schwab/investing/investment_products/mutual_funds/research_tools/funds_directory/lookup/results.html?searchCriteria=Specialty-Precious+Metals&sortBy=Category&filter=

[Craig]

My wife works for the 4th largest rare coin and precious metal dealer in the country. They say that gold isn't a short term investment, Buy it today and sell it in 3 months. It's a long term investment to go with stocks, mutual funds etc. Mainly because of what Mandelon mentioned about buying & selling.
Craig

[coolchange]

I do recreational gold hunting , hard to find ! Almost have a ounce after looking for 2 years !!!! Mostly get good exercise.
So thats where you've been.

[CNeidhart]

Hey Wood,
You may be right. Here is a gold symbol (GLD) that trades gold on the NYSE. In gold mining companies you have the profit issue of the company. This GLD symbol trades the value of the mineral on the open market daily.
Good luck, I've switch a good percentage to this about 4 weeks ago.