If you are interested in making some money in the stock exchange then you might be very interested in making some money in the gold stock exchange. You are going to see that there are a number of different ways that you can make money with an account like this but if you are not really sure where to start then you will want to get a little bit of background information first. This article will highlight a few of the most common things that you need to keep in mind.
First of all, you will want to open an online brokerage account. There are many different companies out there that you can utilize. If you already have an account with a current company then you can continue to do business with them. Once you have your account set up, or you have entered your current account, you are going to want to search the quote screen that is found on the brokerage account to find out how much a share of gold is going for. You will want to look at one of two major gold bullion ETF’s. The first one of these is called iShares Comex Gold Trust, the symbol is IAU, and the second one of these is called SPDR Gold Shares. The symbol for this one is GLD.
Once you know the price for each share you are going to be able to take the amount of money that you would like to invest and then divide it by the amount for each share. This will give you an idea of just how many shares you are going to be able to purchase comfortably. You will then select the symbol of the ETF that you would like to invest in. Now, you should know that you are not going to be required to stick with just one ETF. If you would like to make a purchase in both, or even others that are out there, you are going to be able to do just that. It is up to you.
You will then want to watch the price of gold to determine if and when you would like to sell what you own. You are going to be able to carry out this task through your account just like you did when you purchased the gold. However, instead of clicking the buy option you are going to use the sell option. This is how you are going to make your money.
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