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Paul Mladjenovic. Investing in Gold & Silver For Dummies
Investing in Gold & Silver For Dummies® To view this book's Cheat Sheet, simply go to www.dummies.com and search for “Investing in Gold & Silver For Dummies Cheat Sheet” in the Search box. Table of Contents
List of Tables
List of Illustrations
Guide
Pages
Introduction
About This Book
Foolish Assumptions
Icons Used in This Book
Beyond the Book
Where to Go from Here
Getting Started with Gold and Silver
Exploring the World of Gold and Silver
Considering Gold and Silver for Your Situation
Assessing the world’s financial issues
Knowing how gold and silver can help you
Taking Action Before You Invest in Gold and Silver
Reviewing your portfolio
Boosting your cash position
Using your talents in your spare time
Doing your research on gold and silver
Understanding Gold and Silver’s Greatest Benefit
Looking at Counterparty Risk in Today’s Investments
Stocks
Bonds
ETFs and mutual funds
Cash and bank investments
Real estate
Futures and options
Bitcoin and other cryptocurrencies
Knowing That Gold and Silver Have Risks, Too
Adding Gold and Silver to Your Portfolio Mix
Defining Saving, Investing, Trading, and Speculating
Saving
Investing
Trading
Speculating
Building Your Financial Profile
For the conservative investor
For the growth investor
For the speculator
For the trader
Making Other Portfolio Considerations
Deciding on a percentage to put in metals
Choosing gold, silver, or both
Investing for income
THE PERMANENT PORTFOLIO
Recognizing the Risks
THE VALUE OF GOLD IN RECENT HISTORY
Exploring Different Kinds of Risks
Physical risks
Market risks
Futures exchange risks
Political risks
The risk of fraud
Minimizing Your Risk
Gaining knowledge
Being disciplined
Having patience
Using diversification
Keeping some risk management tools in your arsenal
Weighing Risk against Return with the 10 Percent Rule
Spanning the Gold and Silver Landscape
Investing in Gold
Comparing Gold to Other Investment Assets
Gold versus the financial world in general
Gold versus stocks versus currencies
Understanding the Gold Market
Gold demand
Jewelry demand
Central bank demand
ETF and investment demand
Technology demand
Gold supply
Going Over Gold’s Recent Bull and Bear Markets
The 1970s bull market
The 1980s bear market
The 1990s range-bound market
The bull and bear markets of 2000–2008
The bull market and bear market of 2008–2018
Making the Case for Gold Today
Surveying Silver
Comparing Silver and Gold
Silver’s similarities to gold
Silver’s unique qualities
Digging into the Silver Market
Silver demand
Manufacturing demand
Investment demand
Jewelry demand
Silverware and photography
Silver supply
SORTING THROUGH SILVER’S MANY USES
Future drivers of silver
Starting with Silver’s Modern History in the 1970s
Picking Apart Silver’s Performance during 2000–2020
The first silver bull market (2000–2008)
The bull market of 2009–2011 and the bear market of 2011–2018
Silver versus the financial world in 2020 and beyond
SILVER FUTURES VERSUS PHYSICAL SILVER
Resources for Informed Silver Investors
Making the Most of Mining Stocks
Examining the Essentials of Stock Investing
A profitable company
A growing industry
A healthy balance sheet
Knowing What to Look for When You Evaluate Mining Stocks
Value that isn’t cheaper than dirt
Management that you can dig
Politics: Not in my backyard
Distinguishing Different Types of Mining Stocks
The majors
Midtier mining companies
Junior miners, eureka! Exploratory companies
Considering the Risks of Mining Stocks
Boosting Your Returns
Generating income
Dividends
Writing covered calls
Leveraging with warrants
How warrants work
Where to find warrants
The risks of warrants
Checking out mining stock indexes
Spotlighting the Pros
Rick Rule
Doug Casey
Examining Mutual Funds and ETFs
Choosing Mutual Funds
The advantages of mutual funds
Fitting a specific need
Diversification
Convenience and performance
The downside of mutual funds
Relying on other decision makers
Fees and service charges
MANAGEMENT FEES
MARKETING FEE #1: THE FRONT-END LOAD
MARKETING FEE #2: THE BACK-END LOAD
MARKETING FEE #3: THE 12(B)-1 LOAD
Questionable track records
Keys to success with mutual funds
Analyze yourself first before you analyze the fund
How you invest is as important as what you invest
The prospectus: Netting it out
Mutual fund resources
Selecting Exchange-Traded Funds
The pros and cons of ETFs
The world of precious metals ETFs
The gold ETFs
The silver ETFs
Other precious metals ETFs
Other ETFs for the metals-minded
ETF resources
The exchanges
The issuers
Newsletters
Websites
Looking at Other Gold and Silver Investing Vehicles
Going Direct: Buying Bullion
Weighty Matters: Troy Ounces
Making the Case for Physical Ownership
What could go wrong with paper assets?
Bullion versus numismatics
The risks of owning physical metals
Going for Gold Physical Bullion
American Eagle Gold Bullion Coins
The American Buffalo Gold Bullion Coin
The Krugerrand
The Canadian Maple Leaf
Other gold bullion
Seeking Out Silver Physical Bullion
American Eagle Silver Bullion Coins
One-ounce rounds
Junk silver bags
The $1,000 bag of silver dollars
The 40 percent silver bag
Silver bars and ingots
So what kind of silver is best?
Gold and Silver Commemorative Coins
Bullion Costs, Fees, Dealers, and Resources
Numismatic Coins and Collectibles
Understanding the Basics of Numismatic Coins
Aiming for profitable coin investing
Making the grade
Checking out information sources
Considering Collectible Coins
Gold coins
Silver coins
Other coins
A special category: Commemoratives
Exploring Coin Organizations and Services
Information sharing
Grading services
Selling Your Coins
Potential buyers
Dealers
Other investors
eBay and other auctions
Pricing information
CHECK YOUR CHANGE
Leveraged and Inverse ETFs
Feeling Bullish: Leveraged ETFs
Discovering what makes an ETF leveraged
Double-bullish leveraged ETFs
Triple-bullish leveraged ETFs
Some advantages of leveraged ETFs versus futures and options
Checking out a real-life example of a gold and silver leveraged ETF
Being a contrarian
Seeing the reality in front of you
Feeling Bearish: Inverse ETFs and Inverse Leveraged ETFs
Using Leveraged and Inverse ETFs during the Market’s Ups and Downs
Bullish moves
Bearish moves
Other considerations
Looking at Resources for Leveraged and Inverse ETFs
Focusing on Futures
Back to the Futures
A BRIEF HISTORY OF FUTURES
How the futures market works
What can be traded as a futures contract
The Players in the World of Futures
The U.S. exchanges
The international futures exchanges
Speculators
Hedgers
Regulators
The Fundamentals of Futures Contracts
A specified size
Specified quality
Specified prices
A DIFFERENT ANIMAL: THE FORWARD CONTRACT
A specified delivery date
Metals Futures Contracts
Precious metals contracts
Mini-futures contracts
Pass the margin
Leverage: The double-edged sword
Basic Futures Trading Strategies
Basic strategy #1: Going long
Basic strategy #2: Going short
Basic strategy #3: Spreads
The calendar spread
The inter-market spread
The inter-exchange spread
Using Fundamental and Technical Analysis with Futures
Futures versus Options on Futures
Futures Resources
Considering Options
Discovering How Options Work
The call option
Real-world examples of options
Possible outcomes for the call buyer and the call writer
The strike price and being out of, at, or in the money
Time and equity value
The put option
Placing Orders for Options
Options: Offering Something for Everyone
For those seeking gains
Income strategy #1: Writing covered calls
Income strategy #2: Writing puts
Minimizing Risks with Options
Trying Some Profitable Combinations
The zero-cost collar
The straddle
Checking Out Options in the World of Precious Metals
Options on mining stocks
An option with no expiration?
Options on ETFs and indexes
Options on futures
Following Golden Rules for Options Success
Consulting Options Resources
Digging into Gold and Silver Investing Strategies
Trying Out Trading Approaches
Like a Scout: Being Prepared
Be a voracious reader
Have your plan
Decide your market
Practice with simulated trading
Picking Out Your Vehicle
Selecting Your Trading Strategy
Choosing your market outlook
Stock trading coupled with options
Futures trading coupled with options
Trading the Gold-to-Silver Ratio (GSR)
Getting a little background on the GSR
Investing with the GSR
Trading with the GSR
Using Technical Analysis
Defining Technical Analysis
Comparing Technical Analysis versus Fundamental Analysis
The guts of technical analysis
The price tells all
It’s all about the trend
History repeats
How about both?
The tools of the trade
Tracking the Trend
Trend lengths
Channels
Resistance and support
Checking Out Charts
Line charts
Bar charts
Candlestick charts
Point and figure charts
Picking Apart Chart Patterns
Head and shoulders
Reverse head and shoulders
Cup and handle
Double tops and bottoms
Triangles
Flags and pennants
Wedges
Gaps
Assessing Moving Averages
Simple moving averages (SMA)
An example of the ten-day moving average
The most common simple moving averages
Other averages
Investigating Indicators
Oscillators
The relative strength index (RSI)
Moving average convergence/divergence (MACD)
Crossovers and divergence
Bollinger bands
Focusing on the Short Term versus the Long Term
Resources for Technical Analysis
Using Dealers and Brokers
Starting with Some General Points on Dealers and Brokers
Working with Gold and Silver Dealers
Sticking to major bullion coins
Investigating a dealer’s reputation and reviews
Getting at least three price quotes
Understanding ancillary charges
Deciding whether to get physical metals online or visit a local dealer
Picking apart a buy back policy
Getting the Scoop on Stock Brokerage Accounts
Beginning with types of stockbrokers
Assessing account types
Opening a stock brokerage account
Distinguishing Types of Orders
Stock brokerage services
The basic orders
Trailing stops
Broker email alert services
Stock brokerage commissions and fees
Margin in a stock brokerage account
Introducing Types of Futures Brokers
Selecting a Futures Broker
Dealing with Futures Accounts
Seeing how margin works in a futures account
Watching out for problems in your futures account
Opening a futures account
Checking out futures account commissions and fees
Making futures orders
Time condition orders
Market orders
Limit orders
Stop orders: Buy and sell stops
Cancellation orders (CXL orders)
Cancel former orders (CFO orders)
Market on close orders (MOC orders)
Opening-only orders
One cancels the other order (OCO order)
Even more orders
Considering managed futures accounts
Tax and Retirement Considerations
Assessing Taxable Activity in Different Accounts
Regular investment accounts
Individual retirement accounts
Understanding Capital Gains and Losses
Looking at Tax-Deductible Activity
Surveying Special Tax Considerations
Gold and silver as collectibles
Tax rules for traders
Tax Resources to Keep You Up-to-Date
The IRS (of course!)
Helpful tax websites
An ounce of prevention …
Adding Physical Precious Metals to an IRA
Precious metals allowed for IRAs
Companies where you can establish an account
The Part of Tens
Ten Reasons to Have Gold and Silver
Gold and Silver Provide Diversification
Gold and Silver Allow for Privacy
Gold and Silver Are Portable Wealth
Gold and Silver Ease Retirement Concerns
Gold Is a Safe Haven Asset
The Value of Gold and Silver Is Never Zero
Gold Retains Its Value in Bear Markets
Gold and Silver Have Enduring Demand
Gold and Silver Make Good Inflation Hedges
Gold Guards against Financial Bubbles
Ten Ways to Add Gold and Silver to Your Portfolio
Major Gold and Silver Stocks
Junior Gold and Silver Stocks
Mutual Funds
Physical Metal ETFs
Bullion Coins
Numismatic Coins
Leveraged ETFs
Junk Silver
Gold and Silver Cryptocurrencies
Buying through Goldmoney and OWNx
Ten (Or So) Tips for Gold and Silver Speculators and Traders
Focus on a Specialty
Do Research and More Research
Be a Contrarian
Limit Your Grubstake
Stagger Your Entry
Use the Right Speculative Vehicles
Have Multiple Positions
Use Technical Indicators
Do Some Hedging
Take a Profit
Use Brokerage Orders
Appendixes
Resources for Gold and Silver Investors
Websites and Blogs
Newsletters and Advisories
News and Commentary Sites for Gold and Silver Information
Gold and Silver YouTube Channels
Books about Gold and Silver
Other Books of Interest to Gold and Silver Investors
Trade Associations and Industry Sources
Government Agencies
Gold and Silver ETFs
Gold and Silver Dealers
Buying Services
Futures and Options Resources
Cryptocurrencies Related to Gold and Silver
Technical Analysis
Brokers
Gold and Silver Investments
Major Gold Mining Stocks
Major Silver Mining Stocks
Gold-Related ETFs
Silver-Related ETFs
Mutual Funds
Index. Numerics
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
R
S
T
U
V
W
X
Y
Z
About the Author
Dedication
Author’s Acknowledgments
WILEY END USER LICENSE AGREEMENT
