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Q: Best way to invest in gold and other precious metals online? ( Answered 5 out of 5 stars,   0 Comments )
Question  
Subject: Best way to invest in gold and other precious metals online?
Category: Business and Money > Finance
Asked by: mindway-ga
List Price: $5.00
Posted: 19 Jun 2002 11:53 PDT
Expires: 19 Jul 2002 11:53 PDT
Question ID: 29294
Hi, what's the best way to invest in gold and other precious metals
online?  In other words, I think the price of gold is going to go up
but I don't want to buy gold bullion, I want to invest in a vehicle
that moves the same way gold moves.  Maybe there's a gold index or
something like that I can invest in through E*Trade--I just don't know
where to look.  If there is such a vehicle for gold, are there similar
things for platinum, silver, etc?

I'd prefer something that acts just the way gold does, so if gold goes
up 5% for the day, I'd like this vehicle to go up about that amount. 
I'd rather not invest in gold mining companies because then you've got
other factors to consider other than the simple price of gold. 
However, if there is no gold investment vehicle, then some
recommendations of gold-related companies that might move the same way
gold moves would be nice.

Thanks!
Answer  
Subject: Re: Best way to invest in gold and other precious metals online?
Answered By: eiffel-ga on 20 Jun 2002 02:44 PDT
Rated:5 out of 5 stars
 
Hi mindway,

A straightforward online investment that directly tracks the value of
gold and other precious metals is offered by e-gold:
https://www.e-gold.com/

e-gold is an electronic currency denominated in grams of gold, silver,
platinum or palladium. You do not directly hold bullion, but physical
metal is held under trust to cover the aggregate value of all e-gold
accounts. The process is described here:
https://www.e-gold.com/unsecure/qanda.html

Exchange agents ("market makers") purchase e-gold in bulk and make it
available to individual account-holders. There are about twenty
exchange agents in various countries:
https://www.e-gold.com/unsecure/links.htm
Rates vary, but a representative example is Gold Changer
http://www.goldchanger.com/
Gold Changer charges a six percent fee when you purchase e-gold with a
US dollar money order and a one dollar (US) fee when you redeem e-gold
for a US dollar money order.

You can hold an e-gold balance in gold, silver, platinum and
palladium.

You can transfer e-gold to other account-holders. The charge for
online transfers is 1% of the transaction value, with a 50 cent (US)
maximum. There is no charge to open an e-gold account, but there is a
1% per annum charge which relates to the cost of storing and insuring
the physical metal.


Google searches used:

gold platinum silver account
://www.google.com/search?q=gold+platinum+silver+account

"investing in gold"
://www.google.com/search?q=%22investing+in+gold%22


Good luck with your investments!

Regards,
eiffel-ga
mindway-ga rated this answer:5 out of 5 stars
Great!  Thanks!

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