The financial world we live in is just as wild, if not more, than the mountains and woods we walk through. We are told that the fundamentals of our economy are strong, but we can feel that something is wrong. My unique financial background and survival passion make Financial Survivalist and excellent place to learn and share.

Monday, March 5, 2012

5 Essential Precious Metal Questions

6:30 AM  ,  No comments

Buy it. Sell it. Wear it. Own it. Melt it. Mine it. Eat it. Drink it. You can do almost anything with gold. Everyone has seen advertisements to buy or sell it. Anyone that is concerned about their financial future has likely asked themselves, "Should I Buy Gold?" However, Gold is not the only PM (precious metal) and more recently I have seen increasing advertisements for Silver, Platinum and Titanium.

5 Essential Precious Metal Questions

1. Should I Buy PMs?

This question could also be "Why should I buy PMs?" Just because everyone else is doing it? After all, it's gone up for 10 years in a row. So what! The stock market did too, right before the Dot com Bubble burst.

What would be your reason to buy PMs? Investment? Wealth creation? Wealth protection? Inflation hedge? By readying "Should I Buy Gold?" you will get a good idea if you should. I only recommend physical PM's for wealth protection. There are better ways to protect from inflation and economic collapse, and there are more secure investments.

2. Which One Should I Buy?

There are many PM's to choose from, but many have strong ties to industry because of our technological advances. That means when industry (ie economy) collapses, so will the price of those PM's. The PM with the weakest tie to industry is GOLD. GOLD also has a historical and sentimental history as store of wealth greater than any other. The best PM for wealth protection is GOLD.

3. How Should I Buy?

Physical, Mutual Funds, Exchange Traded Funds, Stocks, Sector Exposure, etc. The list goes on. I'll make it really simple for you; physical gold for wealth protection, ETF's for anything else.

4. Where I Should Buy It?

If buying physical gold I would recommend an online dealer like APMEX.com. They are reliable and will give you a good price. If not buying physical gold, I would recommend ETF's through your brokerage.

5. When Should I Buy?

For wealth protection it doesn't matter too much. Buy on a dip in price. There will be a dip. There always is. For investment, speculation or a hedge on inflation, I cannot tell you. It depends so widely on your unique strategy. Therefore, the answer would be just as unique.

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