Can you afford not to buy gold?
As many investors know, gold is a “safe-haven” asset that can actually increase in value during stock market slides and times of recession. But what else do you really know about this commodity? Are you taking full advantage of it? Do you know how to work it into your overall investment strategy?
This detailed tutorial provides you with a comprehensive understanding of gold, from mine to market. Jonathan Spall, a 25-year veteran of the metals market, explains everything you'll need to know for making gold a profitable part of your investment strategy. Investing in Gold gives you an inside look at how the precious metal is mined, refined, traded, and priced, along with valuable insight into gold's unique position in the marketplace. Spall explores such topics as:
- Simple and complex gold trading processes
- The pivotal role central banks play in the gold market
- Gold exchange traded funds (ETFs)
- How spot gold is traded
- Why gold mining companies have traditionally hedged and why they no longer do so
- Strategies for investing in the retail market
Spall provides an extensive glossary of terms you'll need to know, and he debunks various myths regarding this market, including the Fed's supposed scheme to keep gold prices artificially low during the 1990s.
The effects of global economic growth, the weakened dollar, the credit crunch, and the recent creation of enormous funds each affect the gold market; put them together and they add up to potential profits gold investors have never before dreamed of.
Gold is a surprisingly small market. When you learn how to navigate it, the potential for excellent rewards becomes evident.
|Sold by:||Barnes & Noble|
|File size:||1 MB|
About the Author
Jonathan Spall is director of commodities at Barclays Capital, the investment banking arm of Barclays Bank. He has 25 years experience in related markets, including working nine years in Asia/Pacific.
Table of ContentsIntroduction
1.How the gold market operates (quick run through)
4.Official sector gold holdings
8.Is gold relevant?
9.Why is gold at record highs in 2008?
10.The outlook for gold
11.Gold trading for investors
12.Frequently Asked Questions
Most Helpful Customer Reviews
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Jonathan Spall is a director of commodities at Barclays Capital, the investment banking arm of Barclays Bank. He has over 25 years experience in gold and related markets. Having an extensive background in metals market gives Spall the authority to write twelve solid chapters about the business of gold. Note; than in order to take advantage of the research, accuracy, and history of institutions and financial instruments used by Spall, you have to be familiar with some finance fundamentals such as: Futures and Options. What I have found interesting about this book is the fact that at the time it was released, gold had not yet reached its record high in 2009. Nonetheless, Spall takes us two decades ago to illustrate the changes that gold has experienced. He does a wonderful job explaining how different economic factors influence the fluctuation of gold price. Furthermore, he analyzes the reason why gold, an investment vehicle (as a commodity) differs from cash and equities. Why would someone invest in gold? why gold is neglected as an investment instrument unlike stocks and cash are? What's the correlation among gold and, supply and demand, the rise/decline of currencies, inflationary expectations and levels, confidence of new investment vehicles. Spall hasn't just done an detailed study, but explained all his theories for each topic. He has written and advanced book about the business of gold, since its beginnings of gold mining to how investors are exposed to gold such as: Equities,Futures, ETF's, Structure notes, Etc. I found this book as solid as gold because after everything said about gold, only one thing is true as Spall points out. "Gold fluctuates in prices, and so current investment and economic environments, and what's more important are the consequences of the system and the political authorities to control all these changes". Unless all these factors are set aside gold will always find a way, as an investment vehicle for investors.
Gold draws a great deal of comment fueled by fiery passion, and often instigates discourses based on rumor, conspiracy theories and gossip. Allow Jonathan Spall, an expert on precious metals, to disprove the lingering myths about gold with his interesting, helpful little book. While Spall's treatise doesn't quite carry you on a complete tour of gold's role throughout human history, it does usher you down into the mines and through the gold refiner's fire. His ability to explain the basics of the gold trade so clearly may be based on his writing skill, but it also reflects his years of experience explaining these ideas to nonspecialists. The only math he uses involves the simple equations used to calculate gold prices. While you may already be familiar with some of Spall's information, getAbstract recommends his broad introduction to gold to those who are interested in all facets of the prized metal, from its extraction to its sale.