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Invest in GOLD? Things you must know Before Investing in Gold Market

August 20, 2013 By Janet Vasquez Leave a Comment

Gold is considered to be the best means of investment in comparison with shares and bonds. Moreover, this yellow metal has been the most trusted metal for middle income groups.

Alike any other gem, gold can fetch you a lucrative deal whenever you require them to sale. Resale value of gold majorly depends on its purity. Purity is measured in carats. The purest form is 24 carat, though jewelleries are made with 18 carat or 22 carat- which means that other metals have been added to give it strength. It’s preferable to go for 24 carat pure gold which is available in markets as coins and biscuits. This can fetch you more in comparison to gold ornaments.

Gold has been one of the most primitive form of investment known to mankind which doesn’t lose its value, rather gives a consistent return. But there are three major facts that should be known about the gold.

ILLUSIONS ABOUT GOLD

The value of gold is in how it’s perceived. Even though gold has been considered a valuable and trusted medium of exchange from thousands of years, the reality it is that it’s really not “pure money.” Although there are states that accept gold and silver as legal tender in addition to Federal Reserve notes, having this precious metal in physical form might not earn good business for you.
The gold prices are fluctuating like a rollercoaster ride in the recent years.

According to equity research analyst, Henry Blodget, gold is just as susceptible to the whims of the market as any other investment. He pointed out that gold has no true fundamental value: “But there’s no solid theoretical way to ‘value’ gold, so its price could do almost anything.” Later, he says: “Speculating about what gold prices will do is speculating, not investing…”

He further points out, “If a financial apocalypse comes, would you rather have food storage and good land or a safe full of gold coins?

Questioning at the value of gold, the expert says, “Who’s going to trade for your gold — and who would be able to afford it at the time of financial crunch?

28% TAX RATE!!

Physical gold is taxed at the collectibles capital gains rate, which is 28%. Notably, it doesn’t matter what income bracket you’re in.

Forms of gold taxed at this rate include wafers, bars, coins and rounds, as well as certificate gold, electronic gold and gold ETFs.

Gold

Following are the gold forms that are taxable:

• All denominations of Gold Bullion coins and numismatic/rare coins;

• Precious metal bars, whether ounce, kilo or larger – whether held at home or via secure custody services such as GoldMoney and BullionVault – and also gold wafers

• ETFs like GLD, PHAU and so on (closed-end funds have different rules; see below);

• Any “paper gold” or Gold Certificates, such as Perth Mint Certificates and EverBank accounts;

• All forms of pool gold, rounds, and commemorative coins
Is there sales tax on gold? Some states have a sales tax on gold coins and bullion. However, Arizona does not have any sales tax.

HOW MUCH GOLD YOU CAN OWN?

There are no restrictions on private gold ownership in the United States. You are limited only by your budget and common sense.

Gold STORAGE TROUBLE

Storage of gold is very troublesome. You either need a secure location at your home or you need to pay someone to store it for you.

Finding someone to store it for you comes with full of risk. It will impose additional burden on your pocket besides giving you headaches.

By the time you pay a premium for buying physical gold, and then pay for its storage (or shipment to you), it’s a little hard to make a profit out of the ‘GOLD’.

Filed Under: Markets Tagged With: gold, gold investment, gold market, physical gold, yellow metal

GOLD PRICE Latest Update Today – GG, AUY, ABX, KGC, GOLD, EGO, GFI, AU, PAAS, NGD, IAG

August 8, 2013 By Deborah Cobing Leave a Comment

Check out the latest gold stock price, as of Wednesday, August 7, 2013:

Goldcorp Incorporated (NYSE: GG)

Goldcorp was trading at $25.07, down -0.90 pct on Wednesday. GG traded -6.11 pct below its 50-day moving average and -23.15 pct below its 200-day moving average.

Barrick Gold Corp (NYSE: ABX)

Barrick was trading at $15.55, down -0.63 pct on Wednesday. ABX traded -10.35 pct below its 50-day moving average and -41.34 pct below its 200-day moving average.

Gold

Yamana Gold Incorporated (NYSE: AUY)

Yamana was trading at $8.93, down -0.44 pct on Wednesday. AUY traded -55.94 pct below its 52-week high and 4.43 pct above its 52-week low. Market cap: $6.65 billion.

Randgold Resources Ltd (NASDAQ: GOLD)

Randgold was trading at $66.21, down -0.78 pct on Wednesday. GOLD traded -47.63 pct below its 52-week high and 10.01 pct above its 52-week low. Price to earnings ratio: 14.81.

Kinross Gold Corp (NYSE: KGC)

Kinross was trading at $4.93, down -0.61 pct on Wednesday. KGC traded -55.51 pct below its 52-week high and 8.82 pct above its 52-week low.

Eldorado Gold Corporation (NYSE: EGO)

Eldorado was trading at $7.04, up 0.71 pct on Wednesday. EGO traded -56.31 pct below its 52-week high and 26.60 pct above its 52-week low. Market cap: $5.10 billion.

AngloGold Ashanti Limited (NYSE: AU)

AngloGold was trading at $11.76, down -2.40 pct on Wednesday. The company traded -67.91 pct below its 52-week high and -2.07 pct below its 52-week low. Price to earnings ratio: 15.04.

Gold Fields Limited (NYSE: GFI)

Gold Fields was trading at $5.16, up 0.01 pct on Wednesday. GFI traded -56.05 pct below its 52-week high and 10.47 pct above its 52-week low. Market cap: $3.80 billion.

New Gold Incorporated (NYSE: NGD)

New Gold was trading at $6.32, up 0.47 pct on Wednesday. The company traded -50.77 pct below its 52-week high and 10.87 pct above its 52-week low. Market cap: $3.50 billion.

Pan American Silver Corporation (NASDAQ: PAAS)

Pan American was trading at $11.73, up 0.61 pct on Wednesday. The company traded -47.57 pct below its 52-week high and 14.65 pct above its 52-week low.

IAMGOLD Corporation (NYSE: IAG)

IAMGOLD was trading at $4.29, down -2.27 pct on Wednesday. IAG traded -72.70 pct below its 52-week high and 19.47 pct above its 52-week low. Price to earnings ratio: 7.15.

 

Filed Under: Markets Tagged With: AU, current gold price, current gold stock price, gold, gold market, gold mining, gold news, gold price, gold stock mining, gold stock price, gold stocks, gold update, precious metal, price of gold, prices of gold

GOLD PRICE (Latest Update) – Goldcorp, Eldorado Gold, Barrick, New Gold, Gold Fields, Randgold, Yamana, AngloGold, Kinross

August 6, 2013 By Deborah Cobing Leave a Comment

The following are the current stock price for gold, as of August 5, 2013:

Goldcorp Incorporated (NYSE: GG) – which develops and operates precious metal properties – traded at $26.68, down -0.88 pct on Monday. The company traded -42.91 pct below its 52-week high and 20.28 pct above its 52-week low.

Barrick Gold Corp (NYSE: ABX) – a producer and seller of copper and gold – traded at $16.39, declining -1.72 pct on Monday. The company traded -61.16 pct below its 52-week high and 22.02 pct above its 52-week low.

Gold-25_1

Yamana Gold Incorporated (NYSE: AUY) – a gold producer based in Canada – traded at $9.67, dipping 0.71 pct on Monday. The company’s price-to-earnings ratio is 22.47, with a market capitalization of $7.30 billion.

Randgold Resources Ltd (NASDAQ: GOLD) – which carries out exploration and gold mining activities – traded at $71.27, rising 0.97 pct on Monday. The company’s price-to-earnings ratio is 15.95, with a market capitalization of $6.60 billion.

Kinross Gold Corp (NYSE: KGC) – a Canadian-based gold mining firm – traded at $5.10, increasing 0.01 pct on Monday. KGC traded -54.00 pct below its 52-week high and 12.57 pct above its 52-week low.

AngloGold Ashanti Limited (NYSE: AU) – engaged in the mining and production of gold in South Africa and globally – traded at $12.64, up 0.71 pct on Monday. The company’s price-to-earnings ratio is 16.20, with a market capitalization of $4.75 billion.

Gold Fields Limited (NYSE: GFI) – engaged in gold mining, exploration and related activities – traded at $5.47, declining -0.54 pct on Monday. The company’s price-to-earnings ratio is 14.01, with a market capitalization of $4.5 billion.

Eldorado Gold Corporation (NYSE: EGO) – which owns and operates gold and silver-lead-zinc mines around the globe – traded at $7.36, increasing 0.01 pct on Monday. The company’s price-to-earnings ratio is 28.30, with a market capitalization of $5.30 billion.

Compania de Minas Buenaventura SA (NYSE: BVN) – a precious metal firm – traded at $12.65, falling -2.08 pct on Monday. The company’s price-to-earnings ratio is 7.17, with a market capitalization of $3.10 billion.

New Gold Incorporated (NYSE: NGD) – an intermediate gold producer and explorer – traded at $6.59, down -1.21 pct on Monday. NGD’s price-to-earnings ratio is 15.67, with a market capitalization of $3.20 billion.

Pan American Silver Corporation (NASDAQ: PAAS) – engaged in silver mining and related activities – traded at $12.16, down -0.32 pct on Monday. PAAS’s price-to-earnings ratio is 41.91, with a market capitalization of $1.90 billion.

IAMGOLD Corporation (NYSE: IAG) – a gold mining firm – traded at $4.78, down -0.61 pct on Monday. The company’s price-to-earnings ratio is 7.96, with a market capitalization of $1.75 billion.

Harmony Gold Mining Co. Limited (NYSE: HMY) – a gold mining company with operations in South Africa and Papua New Guinea – traded at $3.57, rising 2.01 pct on Monday. The company’s price-to-earnings ratio is 17.01, with a market capitalization of $1.60 billion.

AuRico Gold Incorporated (NYSE: AUQ) – a Canadian gold mining company with projects in North America – traded at $4.31, declining -0.91 pct on Monday. The company is -48.71 pct below its 52-week high and 8.51 pct above its 52-week low.

 

 

Filed Under: Markets Tagged With: AU, current gold price, current gold stock price, gold, gold market, gold mining, gold news, gold price, gold stock mining, gold stock price, gold stocks, gold update, precious metal, price of gold, prices of gold

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