So You Want to Invest In Gold?
Investing in gold is a great way to protect your wealth from economic instability. Throughout financial history, investors trusted and valued gold as a tradable commodity proven to outperform all other precious metals including silver. Modern investors continue to trust gold and with good reason. In addition to gold being a stronger market performer, its value is also higher than all other precious metals, respectively.
Accumulating wealth takes strategy, experience, knowledge and sometimes even luck. Regardless of how your wealth was earned, losing it in part or whole to economic crises, anticipated or not, can be a devastating experience leaving you aggravated and struggling. This type of loss can be preventable with solid investment strategies and long-term financial planning, and gold is one of the most solid long-term investments there is.
Gold is not the same type of market player as are stocks. While gold does tend to outgain silver and other precious metals, significant financial gains over long periods of time are not necessarily its strength. What gold does offer is consistency and stability. Significant losses and dramatic fluctuations in value are not likely to harass you in the gold market.
Your wealth is important. Your peace of mind and financial stability are also important. Investing in gold is a great way to protect your wealth and provide longer-term peace of mind and financial security. Read on to learn about the best ways to invest in gold and what to expect from returns.
Safe Ways to Invest in Gold
Gold investments in modern times can be made online from home or anywhere there is a Wi-Fi or data connection using a phone, tablet or other Wi-Fi-enabled device. Gold can be bought and sold in person, and still is. The convenience of investing in gold from home, however, is quite beneficial to savvy investors while also a potential risk for those new to the market and perhaps under financial duress.
There are almost always desires to protect wealth and earn more of it. This can be a responsible priority for those expecting imminent economic instability. It can also be an impulse-buy temptation for those suffering financial losses due to unexpected unemployment, medical emergencies or even natural disasters. Understanding safe ways to invest in gold can help prevent being victimized by scams while also protecting your wealth with a sound, long-term investment.
Research and Compare Your Options
Researching and comparing your options for investing in gold are simple and effective ways to not only protect your wealth but also protect the amount being invested. The majority of gold investing companies have an online presence. So do a multitude of credible consumer and professional-based review sites. Yelp offers rated reviews from clients having experience with gold investment businesses whether online only or as physical business locations. The Better Business Bureau (BBB) is perhaps the most well known source for researching business ratings, whether positive or negative.
Once you have a list of gold investment companies you trust, the next step is to compare the pros and cons of each. Research transaction fees, history of success, potential returns and perks for each option. Be sure to choose an investing company best suited for your needs and financial situation, and one also making you feel the most confident.
Knowing the Price of Gold
The value of gold will fluctuate from day to day. This is the nature of investing and gold is not immune to it in spite of its long-term reliability. Politics, hurricanes, virus outbreaks, wars and even a subtle hint at the possibility of war can all rattle the market in adverse ways. At the time this article was written, the price of gold was reporting at $1,964.13 per ounce, which was up $7.52 from the last reported gold price. Following the market changes is incredibly easy to do online with websites such as USAgold.com providing real-time market values for this precious commodity. Knowing the value of gold can help you make your investments at the best possible times and for the best possible prices.
Ways to Invest in Gold
Gold investments come in many forms. There is literal, physical gold bullion. There are also gold coins and jewelry. There are also ways to invest in gold not requiring the purchase of physical items. For example, investing in literal gold mining companies is a viable option sometimes providing more profit than investments in gold bullion itself. There are also gold ETFs (exchange traded funds), mutual funds, futures and options. There are numerous vehicles for investing in gold, which is why doing research and comparing company options is crucial to getting the most for your money.
Knowing the Purity Rating of Gold
Pure gold is the most valuable, expensive and rare form of this precious metal pursuant to investment options. Gold is rated in karats, which can be listed in long form or as “k,” or “KT.” Pure gold has a rating of 24. The reasons pure gold investments are more rare are twofold. One gold bar weighs 400 troy ounces. At $1,964.713 per ounce a single gold bar can cost $785,892 USD pending market fluctuations. This limits this type of investment to higher-level market players.Gold is also a soft metal. It is not practical or intelligent to have jewelry rated at 24 KT because it will easily break or bend and become damaged. Gold jewelry, which comprises the majority of gold investments, needs other metals and alloys combined with the gold to make the jewelry stable. The average purity ratings for gold jewelry ranges from 22 to 10 KT. Knowing the purity rating of the gold in which you are investing helps you make the best decisions about your money and get the best returns on your investment.