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Monday, June 28, 2010

How Peter Schiff is Investing in Gold

In a recent interview, Peter Schiff revealed how he has been investing in gold, along with some tips on what to avoid.

First of all, through his brokerage firm Euro Pacific Capital, he has been investing in physical gold for himself and his clients and storing it in Australia.

Concerning physical gold, Schiff recommends staying away from collectible gold like you see advertised on television a lot, as it's highly overpriced.

Schiff recommends buying real gold, and not a coin with only a little actual gold in it.

Finally, Schiff invests in a large number of mining stocks around the world, with many of them in the usual hot mining areas of Canada, Australia, South Africa and South America. He said he also has some in the United States, which among them, I presume, would be Newmont Mining (NYSE:NEM), which has been doing very well among the large gold mining companies.

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