How do you invest in gold stocks

greenspun.com : LUSENET : TimeBomb 2000 (Y2000) : One Thread

How does you go about investing in mining stocks? I've got $5000 I can afford to lose, but am completely clueless on how to buy stocks. I keep reading here that DROOY is going to go through the roof - great, how do I get on board? I live very far from any towns with brokers, will have to do my trading on the Net. How do I get started? Any other helpful hints? (I've already got bullion set aside, don't need anymore). Newbie seeking sincere advice.

-- I want to know (how_to@invest.com), September 28, 1999

Answers

Not that I am much less of a novice than you, but I have always heard and practiced that one always takes possession of precious metals.

-- bobo (blechhhh@aol.com), September 28, 1999.

If you buy and take possession of the metal you may double your money if things don't go completely crazy. If you buy the right mine at a time like this you can get 100 to 150 times your money back as in 1980. DROOY is an excelent mine. It is higher cost operation than some others, but has monster sized deposits. If gold goes even to $350 or $400 this mine 's price will explode upwards. Current prices are based on running at about break even, that's why it is cheap right now. You can buy gold shares thru any broker (discount will save a bundle if you don't have an account on the net). Best mines are Durban Deep (DROOY). Harmony(HGMCY) and Franco_Nevada (FNMCF) Paranthis is symbol it trades under. Do not take broker advice, they will put you in internet or some such that will be crashing shortly. Good Luck.

-- goldbug (goldbug@mint.com), September 28, 1999.

Hmmm. Let me be more specific. Step 1? Step 2? I've got to do this pretty much on my own - no friends or family that I can ask. Exactly what is Step 1? Which broker? Which internet sites? How do I get started? Never invested in stocks of any kind before, am utterly clueless how to do it. Need step by step instructions that will give me the basic outline of how to go about this. Thanks

-- I want to know (hot_to@invest.com), September 28, 1999.

Vanguard has a gold and precious metals fund that invests mainly in mines. Just go to www.vanguard.com and I'm sure you'll find help.

-- Amy Leone (leoneamy@aol.com), September 29, 1999.

Moderation questions? read the FAQ