TME about precious metals. Gold, Silver, etc

So, I started watching videos last night and bouth a 1 gram PAMP gold bar and a 1 oz, silver bar from APMEX. I literally watched my first video on this stuff last night and basically learned to try to buy as close to spot as possible. I am guessing now is a bad time to buy but I really don't care as I am not trying to time the market I am thinking long term. Something simple like buying $100 gold/sillver with each paycheck. Give me all of the noob advice. 

 

Thanks

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Sign up for eBay bucks promo.

 

They issue anywhere from 5-10% back. Combine with a good rewards credit card.

 

Shop around for eligible bullion. You can often get stuff for under spot using this method.

 

 

Here is a webpage to use that can help in your search.

 

 

https://findbullionprices.com/ebay-bucks-bullion-deals.php?type=silver&discount=10&

 

Every quarter they issue a coupon for your eBay bucks. Use that to buy more bullion at close to or under spot as possible. This coupon can be used to double dip too if you get more 5-10% eBay bucks promos 

 

Just double check the sellers to make sure they are legit.

Gold and silver are like, some of the best conductors of electricity...

https://www.google.com/amp/s/www.bloomberg.com/amp/news/articles/2020-04-21/bofa-raises-gold-target-to-3-000-as-fed-can-t-print-gold

That’s Bank of America saying that and they don’t sell gold. Anyone with a brain knows our current economy and these QE measures are completely unsustainable. 

How are your other investments? Or are you planning to make precious metals your primary savings (not recommended) 

sicko -

How are your other investments? Or are you planning to make precious metals your primary savings (not recommended) 

I have a pension, 401k, 457b, some crypto (if you want to consider that an investment). I am also working my way into real estate rentals slowly but surely. I am thinking $200/month on gold/silver and in the next couple of years I will be sitting a a few thousand dollars in precious metals. 

I think they are among the most inexplicable of all investments. I leave this area to the pros.

Have said this on here many times. But pure raw gold is still mined by individual miners in the country, on a scale bigger than most would believe.

My best summer I had a new 6 inch dredge, I averaged an once a day for that whole summer. Have a cabin where I mine, I work for 8-10 days straight till I get homesick, then come home for a week, then go back. 15 hour drive each way. Had an once for every day I worked when averaged out that year.

You don't have to mine it, it is just a hobby I have had since long before I could even break even dredging in my state. I simply enjoy it.

You can buy small amounts from other miners very easily for 70% of spot. You just need to be there. Acquire a 10 troy ounce pound, then sell it to a refinery for the full value of what it contains. The area I mine in has gold that assays at about 96%. The rest is usually silver and you will get just a bit out of that also.

I'd recommend if you're interested in it doing a Kevin O'Leary type approach. Keep simply 5% of your investment portfolio in Gold. Readjust quarterly either buying into the weakness or selling into the strength. Treat it as an insurance policy rather than an investment vehicle. Realistically the only way to do this is through ETF's.

 

 

 

 

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I woud buy GDX instead of buying gold. Gold mining companies that produce gold will do better than the price of gold in a gold bull market.