GDX : how do you buy this.?

[lifeafter41]

http://2.bp.blogspot.com/-5vCFFpmV_...ABVY/IIWrMBINEcQ/s1600/chart+of+the+day+1.png

Is this an index ?
Just saw it. Not sure how true it is.

 

[Thick Face Black Heart]

This is a gold miner ETF. Mainly canadian and US gold miners. Buy through a discount brokerage that allows access to US market. You have to fill in W8-Ben form

 

[frenchbriefs]

Um why?instead of placing a bet on the price of a commodity...u are now placing a bet on the mining company and whether its profitable?u know a company can mine gold but it doesn't necessarily mean its profitable.in fact the correlation is kinda vague...let me tell u if gold price go up....these miner companies might go up a little....after they done taking a large chunk of the profit...but if gold price go down...woowee u are talking bankruptcies here....I'm sure lots of those companies are shit or worthless 2 bit operations or running a illegal operation using Africans as slaves....if u buy

 

[Thick Face Black Heart]

Um why?instead of placing a bet on the price of a commodity...u are now placing a bet on the mining company and whether its profitable?u know a company can mine gold but it doesn't necessarily mean its profitable.in fact the correlation is kinda vague...let me tell u if gold price go up....these miner companies might go up a little....after they done taking a large chunk of the profit...but if gold price go down...woowee u are talking bankruptcies here....I'm sure lots of those companies are shit or worthless 2 bit operations or running a illegal operation using Africans as slaves....if u buy

Very true what you say. The gold miners used to be a leveraged play on gold because their earnings went up a lot quicker for every unit increase in the gold price. But that has all changed ever since the cost of mining gold shot up to over USD 1200 an ounce. Most gold miners now are hanging by a thread and if the gold price should fall below USD 1200 an ounce on a sustained basis, we are looking at sector wide bankruptcies. In which case all the miner ETFs like GDX, GDXJ and SIL would implode and they would be liquidated wholesale.

 

[halsey02]

Very true what you say. The gold miners used to be a leveraged play on gold because their earnings went up a lot quicker for every unit increase in the gold price. But that has all changed ever since the cost of mining gold shot up to over USD 1200 an ounce. Most gold miners now are hanging by a thread and if the gold price should fall below USD 1200 an ounce on a sustained basis, we are looking at sector wide bankruptcies. In which case all the miner ETFs like GDX, GDXJ and SIL would implode and they would be liquidated wholesale.

Honest, I have that kind of money I would still buy physical gold bars....like many, many, many years ago...smaller pieces like 5-10gm, & keep them in Bank deposit box & keep some at home....in case of extreme emergency....I get liquid cash, acceptable anywhere on this earth...this was before Gold ever breaches $500....now, I do not have that much to spare & at $1,000 plus...have to think, long & hard.