Response to the following problem:
Assume you're interested in investing in gold to protect against an expected significant decline in consumer confidence and securities values.
a. Isolate and evaluate the various alternatives for investing in gold coins, gold shares, gold futures and gold certificates.
b. Prepare a comparative grid of the costs, ease of purchase and sale, commissions (if any) and potential returns from each of these alternative ways to invest in gold.
c. Choose and justify your choice of the best of these alternative investments in gold. Discuss the risks you associate with this investment.
d. What alternative forms of tangible investment (excluding real estate) would you consider as potential substitutes for gold?