Investing in gold

[T3XT]

How effective is buying gold/silver/precious metals (when prices are low) and reselling them (when demand is high) to make a profit?

I considered investing in gold coins for this purpose. (24 karat gold can be bought at approximately $50 per gram right now.) However, l'm not one to spend money without comtemplating my purchase beforehand, so I thought I'd get some feedback.

Should I invest in gold to resell to collectors?

[Darthdenim]

I make my own gold out of Smurfs.

[jhypsyshah]

People throw away precious metal escrap all the time, why not just learn to refine that to purity?

[Ruby-S]

You've come to the right place.

We, the denizens of the NGBBS General board, are experts on this subject.

[T3XT]

At 3/7/13 05:28 PM, KevinHR wrote: You've come to the right place.

We, the denizens of the NGBBS General board, are experts on this subject.

Well, I'be done some research of my own but came out unsatisfied.

Hoping that amongst our hundreds of users there's at least one that knows about this stuff

[Otto]

Thing is there are people who do only this for a living who will totally destroy you if you try to do it seriously. You might make a small amount as a hobby if you're savvy, though.

I could be totally wrong, mind.

[Cyberdevil]

I don't think you'd make any larger profit unless you manage to acquire significant resources of gold second-hand, but it's definitely a better way of saving than just using regular currencies. Who knows what future they have, the economy could fall apart any day, but gold will always be valuable.

[jhypsyshah]

I was just wondering if some places might still have some kind of hoarding(?) laws in effect, I'm really not sure.