Investing in gold or silver is a good way for many people to diversify their accounts. These are time tested treasured commodities. Gold was often used as money in ancient times. Later it was used as collateral for a nation's wealth. Silver was also used as money in the past. Today it is the most useful industrial commodity after petroleum. Physical gold and silver are limited resources. There is just enough investment grade gold for each living person to own just a third of an ounce. Investment grade silver is even rarer. There is only enough for everyone to have a 1/14th of an ounce.
When considering gold or silver, the key is to understand the benefits and risks of each type of investment. You must first decide whether you will be working with a long term investment or a short term investment. You must also decide if you are looking at this investment to simply protect your wealth or if you wish to make any sort of profit on your undertaking.
There are a number of ways that that you can own precious metals. The most conservative strategy is to buy physical gold or silver....
For her book, Nickel and Dimed: On (Not) Getting by in America, Barbara Ehrenreich, a middle-aged female investigative journalist, assumed the undercover position of a newly divorced housewife returning to work after several years of unemployment. The premise for Ehrenreich to go undercover in this way was due to her belief that a single mother returning to work after years of being on welfare would have a difficult time providing for her family on a low or minimum wage. Her cover story was the closest she could get to that of a welfare mother since she had no children and was not on welfare. During the time she developed the idea for the book, “roughly four million women about to be booted into the labor market by welfare reform” were going to have to survive on a $6 or $7 an hour wage; the wage of the inexperienced and uneducated. This paper will discuss Ehrenreich's approach to the research, her discoveries, and the economic assumptions we can make based on the information presented in her book.
The topic of Nickel and Dimed, an autobiography written by Barbara Ehrenreich, is economics. Nickel and Dimed go over the economic situation of living in the minimum wage. The test subject in the book, who is Ehrenreich, the author, and a journalist, attempts to make a living out of a minimum wage job. Ehrenreich wanted to know how could a person can live with a minimum wage job, so she decides to move to different states, apply for jobs such as fast restaurants, maid services, waitressing, and try to make a life out of the job or jobs she managed to get. The author meets co-workers who either have a somewhat similar or worse financial status and who also live in motels, trailer parks, and even in their cars because money
This paper examines certain key financial ratios for three companies’ which operate in the market of gold. Presented are analyses and comparisons of the companies for the three most recent years, 2004, 2005, 2006. The focal point of the original analysis was Royal Gold. Two other strong companies in the gold market are Newmont Mining and Barrick Gold Corporation.
Should diamonds be seen as such highly sought-after, luxury goods, and marketed and sold at such extravagant amounts? While some individuals might be of the impression that diamonds are lavishly priced, because of limited supply, it is of my opinion that a very shrewdly-created cartel disguises the very reason for these “rare” gems seemingly being worth your “pretty penny”.
Alloys in the ornament manufacturing are a general use of gold. Because of it is...
In the time between the Civil War and World War I, there was a great economic instability. Men wanted their money to be backed by precious metals, although, they were not in agreement on what precious metal that would be. For the most part, men of high status, who owned large companies, desired their dollar to be insured with gold and only gold. Men of humble institutions, factory workers, and laborers from small farms wanted their dollar to be backed by silver and gold. Both sides have sufficient reasons for their desire of silver, gold, or both to back their money.
Adam smith wrote in his masterpiece, the wealth of nations, “It is the necessary, though very slow and gradual consequence of a certain propensity in human nature which has in view no such extensive utility; the propensity to truck, barter, and exchange one thing for another”. This propensity in human nature led to the development of currency – a medium of exchange accepted by a community of people. For centuries gold and silver were used around the world as currency; in 1834 the United States, formerly on a bimetallic standard, converted to a gold de facto standard. This policy made it so the dollar was backed by gold at a ratio of $20.67 per ounce. The Gold standard was used until August 15, 1971 when President Richard Nixon announced that the United States would no longer redeem currency for gold. (Bordo, n.d.) Instead a fiat monetary system – currency not backed by gold – would be used. Both systems have their advantages and
In this way, an explanation will be provided for why the gold standard rose to prominence and then declined. The gold standard is a monetary system in which the value of a nation’s currency is attached to the value of gold. In this system, gold can be exchanged for currency and currency can be exchanged for gold. During the nineteenth century, the major nations of the world switched to the gold standard, thereby replacing the previous system of bimetallism (a standard based on the values of both gold and silver). In 1821, Britain was the first nation to adopt the gold standard.
I am going to discuss about the element known as gold in my assignment. To describe the element gold in simple terms, I can only say that it is an element (chemical element). This element is denoted by the symbol Au. It has an atomic number of seventy nine (79). I will describe quite a number of things concerning gold as an element. To begin with is:
FOR IMMEDIATE RELEASE (Beaumont, Texas) US Precious Metals announces they are now providing each client with a personal account consultant. The consultant functions to help clients make the best selections for their unique needs, as each investor has their own goals and objectives. Individuals need to understand the risk factors associated with investing in precious metals and investment considerations to bear in mind. Investing in precious metals offers numerous benefits, thus everyone should look into this option and rely on US Precious Metals for assistance when doing so. "Gold prices appear to be on the rise again, as reported by The Bullion Desk.
The use of a gold pan is one of the oldest and most simple forms of gold mining.( Colledge) The biggest thing to remember about the gold pan is that even though it may be relatively effective in catching gold, its main drawback is that it can only process so much material at one time. This is why the gold pan is not used as a commercial mining tool in the name of processing large amounts of material for pay. A gold pan may be used to get places that can only be reached on foot. But the material must have to be rich enough to make the time worth it if there is only a limited amount of material to be processed. The main use for a gold pan other than recreational purposes is to locate a area with gold bearing ground so that later on commercial mining equipment may be brought in to retrieve gold from a large area of ground
Gold, nothing can compare to this precious metal. A symbol of wealth and prosperity, it has been a value for explorers and adventurers and a lure for conquerors. Today it is vital to commerce and finance; popular in ornamentation, and increasing importance in technology.
Adam Smith wrote in his masterpiece, the wealth of nations, “It is the necessary, though very slow and gradual consequence of a certain propensity in human nature which has in view no such extensive utility; the propensity to truck, barter, and exchange one thing for another” (Smith, 2005). This propensity in human nature led to the development of currency – a medium of exchange accepted by a community of people. For centuries, gold and silver were used around the world as currency; in 1834 the United States, formerly on a bimetallic standard, converted to a gold de facto standard. This policy made it so the dollar was backed by gold at a ratio of $20.67 per ounce. The Gold standard was used until August 15, 1971 when President Richard Nixon announced that the United States would no longer redeem currency for gold.
(b) If, instead, the gold futures price falls to $250/oz, on 3 April and stays there until the delivery date, what is you profit or
When buying gold, there are things that need to be taken into consideration. The purpose of buying gold will determine the kind of gold that is bought. One gold expert advised buying contemporary gold bullion coins if the purpose is prize movement capitalization or hedging financial uncertainties. Pre-1933 gold coins are good...