Charlotte - unless you and your dad are professional long term
I’d buy a mutual fund that included the metals market. If you don’t
have lots of money, and want to play the market, use options. If you
don’t know what options and futures are, don’t start here.
If you go to www.kitco.com and go to the pool accounts - they are
offering to sell one ounce of gold at $3.50US over what they would
pay to buy it. A 1000 gram bar of gold goes for $22,000+US, and
that’s a lot of cash out of your pocket to make $100 more or less.
And if you actually want to hold it, you have to pay for shipping and
insurance and that will pretty much chew up any profit. Oh, by the
way, the prices do go down too.
As to the rough opal market - many of us have many years in the gem
and jewelry business - and darn few of us know enough to invest
profitably in rough opal. If you cut stones, and you have years of
experience in opals, this might make sense, if you have a good
conduit to the miners. And are you the first to go thru the rough or
has it already been high-graded? What are you going to do with the
rough after you get it? How would you find it? Where is your profit
and to whom would you sell it if you aren’t a lapidary? This part of
the business is a fairly small part of the market. We buy from those
we know, and a new guy has to be around for a while to be trusted.
Simply said - buy what you need for the next couple of months, sell
what you make, and buy more. If you want to be an investor, do that
well and forget being a jeweler. Else - go to your studio and make