× Register Login What's New! Contact us
Results 1 to 4 of 4
  1. #1
    anonymous's Avatar
    Join Date
    Nov 2005
    Gender
    Undisclosed
    Religion
    Undisclosed
    Posts
    3,871
    Threads
    1402
    Reputation
    2200
    Rep Power
    0
    Likes (Given)
    55
    Likes (Received)
    176

    How to invest in gold/silver

    Report bad ads?

    I was interested in investing my paper money into something more solid, ie. precious metals, specifically gold and silver. These will be hard to come by eventually and will take over the world of paper money. I don't know if we will ever see the value for either go down like it did during the 'crash', so should I wait before buying any of either? The current price for both are fairly high and haven't changed much in recent years, so I wanted to ask those of you who know about investing or those of you who own gold and silver, what are your recomendations.

    Also I'm not big with investing so if I do decide to ever buy them, what would be the best way or doing it?
    How to invest in gold/silver

    IB Forum Anonymous Account.
    Available to those who wish to be anonymous in the Advice & Support section.

    Abuse of the Anonymous System will NOT be tolerated!

  2. Report bad ads?
  3. #2
    farhan's Avatar
    farhan is offline
    If you can read this please remember me in your duas :P

    Join Date
    Jun 2012
    Location
    United Kingdom
    Gender
    Male
    Religion
    Islam
    Posts
    6,840
    Threads
    1029
    Reputation
    31585
    Rep Power
    65
    Likes (Given)
    2186
    Likes (Received)
    6097

    Re: How to invest in gold/silver

    What is your budget roughly for investing in gold/silver? Yes it is good investment.

  4. #3
    *charisma*'s Avatar
    Join Date
    Mar 2005
    Location
    I am a traveler, May Jannah be my home ameen
    Gender
    Female
    Religion
    Islam
    Posts
    4,690
    Threads
    193
    Reputation
    49832
    Rep Power
    116
    Likes (Given)
    1238
    Likes (Received)
    2790

    Re: How to invest in gold/silver

    Assalamu Alaikum

    A few things to keep in mind when buying gold for investments:

    1. Buy gold in coin or bar form because when bought as jewelry, the cost of work is included which hikes up the price more than the actual cost of the gold is worth. You will also be at a loss with gold that includes non-gold adornments (such as fake crystals) because those are added to the weight even though they are not gold.

    2. Stick with the purer forms of gold (ie. yellow gold above 18 kt.). Best you can find are in forms of coins or bars.

    3. Buy gold when the prices are lower and sell when they are higher. You can use goldprice.org to see what the rates are currently and what they were in the past years. Don't sell until you have sought more than one gold buyer because their rates may differ slightly; you'll want whoever can give you the closest to what your gold is actually worth, so know what your gold is worth before selling or taking anyone else's word for it.

    4. Don't forget that you will have to pay zakaat for whatever gold you have every year that its in your possession.

    5. Make sure your gold is stored in a safe place!
    | Likes azc, AabiruSabeel liked this post
    How to invest in gold/silver

    D e a t h

    is the easiest
    of all things after it
    ; ;

    the hardest
    of all things before it

  5. #4
    anonymous's Avatar
    Join Date
    Nov 2005
    Gender
    Undisclosed
    Religion
    Undisclosed
    Posts
    3,871
    Threads
    1402
    Reputation
    2200
    Rep Power
    0
    Likes (Given)
    55
    Likes (Received)
    176

    Re: How to invest in gold/silver

    Quote Originally Posted by Jewel View Post
    What is your budget roughly for investing in gold/silver? Yes it is good investment.
    That really depends on how much it's worth at the time of buying it. I have a decent amount saved up but I want to make sure I buy it when the price is at a fair value.

    Quote Originally Posted by *charisma* View Post
    Assalamu Alaikum

    A few things to keep in mind when buying gold for investments:

    1. Buy gold in coin or bar form because when bought as jewelry, the cost of work is included which hikes up the price more than the actual cost of the gold is worth. You will also be at a loss with gold that includes non-gold adornments (such as fake crystals) because those are added to the weight even though they are not gold.

    2. Stick with the purer forms of gold (ie. yellow gold above 18 kt.). Best you can find are in forms of coins or bars.

    3. Buy gold when the prices are lower and sell when they are higher. You can use goldprice.org to see what the rates are currently and what they were in the past years. Don't sell until you have sought more than one gold buyer because their rates may differ slightly; you'll want whoever can give you the closest to what your gold is actually worth, so know what your gold is worth before selling or taking anyone else's word for it.

    4. Don't forget that you will have to pay zakaat for whatever gold you have every year that its in your possession.

    5. Make sure your gold is stored in a safe place!
    (1)(2)(3). Coin or bar was my original choice, though I've never bought either before. I was also not sure how to even begin with the process of starting or even knowing which places were worth looking into. Should I try to find someone locally? Online? Is there an Islamic / non-Islamic way of doing this? Etc. Prices do not seem to have changed much in terms of + or - recently and the prices only seem to be going up when looking at it long term so I want to make sure I get in on it before it gets even higher, but at the same time, I want to be sure it won't tank as it did in the past. But I guess that's part of the risk.

    (4)(5). Definitely

    Thanks for the info
    How to invest in gold/silver

    IB Forum Anonymous Account.
    Available to those who wish to be anonymous in the Advice & Support section.

    Abuse of the Anonymous System will NOT be tolerated!


  6. Hide
Hey there! How to invest in gold/silver Looks like you're enjoying the discussion, but you're not signed up for an account.

When you create an account, we remember exactly what you've read, so you always come right back where you left off. You also get notifications, here and via email, whenever new posts are made. And you can like posts and share your thoughts. How to invest in gold/silver
Sign Up

Similar Threads

  1. Usage of Gold and Silver Plates For Eating
    By islamkingdom in forum General
    Replies: 0
    Last Post: 12-02-2017, 09:43 PM
  2. Usage of Gold and Silver Plates
    By islamkingdom in forum Worship in Islam
    Replies: 0
    Last Post: 01-21-2016, 12:09 PM
  3. Usage of Gold and Silver Plates
    By islamkingdom in forum Discover Islam
    Replies: 7
    Last Post: 12-15-2015, 09:26 PM
  4. Men and Jewelry: Silver/gold chains etc
    By AntiKarateKid in forum Worship in Islam
    Replies: 2
    Last Post: 01-11-2008, 08:13 PM
  5. Eating with Silver and Gold Utensils
    By Isa Abdullah in forum Manners and Purification of the Soul
    Replies: 6
    Last Post: 09-15-2006, 09:59 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
create