Investing In Gold – A Guide For Senior Citizens

Investing In Gold – A Guide For Senior Citizens

So, you are already 65 years or older, and you are wondering whether investing in gold is a good idea. Well, gold is one of the world’s precious metals, and there is no way you can go wrong by investing in it provided you do it wisely. It is something you can invest in despite your age. In fact, you are in a better position to do better in investing in gold than the younger generation.

If you are investing in your health visit https://www.medicareadvantageplans2019.orggold, commit a certain amount of your money towards gold each month irrespective of the gold price. This strategy usually lessens the downside by spreads risk out as time passes. Here are some of the best ways a senior citizen can invest his or her savings on gold.

  1. Gold Bullion

This involves buying physical gold such as jewelry, bars and coins. St. Gauden’s, American Eagle and American Buffalo are among the most popular and valuable gold coins. You can store your gold at home or in bank safety deposit box. If you like, you can sell and buy gold at any local jewelers. There are many other companies like Kitco.com, which allow investors to trade and store the metal with them.

  • Gold ETNs

In case you are willing to take more risk, exchange-trade notes is something you can try. These are debt instruments which track the index. As an investor, you give your money to a bank for an allotment time period, and when it matures, you are paid a return by the bank depending on the performance of the metal futures market. UBS Bloomberg CMCI Gold ETN, DB Gold Double Long ETN, DB Gold Short ETN, and DB Gold Double Short are among the most popular ones. Gold ETNs are more or less the same as playing the futures market. You don’t have to buy contract on the Comex. They are very flexible, and as an investor, you can trade ETNs short or long. However, you can sometimes lose your entire investment because there is no any principal protection.

  • Gold Minor Stocks

Investing in gold through gold-mining stock is another riskier way of investing in gold. Gold-mining stocks can even have up to 3:1 leverage to spot price of gold to the downside and upside. Gold miners are usually risky for the obvious reason that they usually trade with a broader equity market. It is advisable that you pick gold stocks from a company with a strong reserve growth and production. Make sure that the company has a good management.