Free Gold Investment Guide
Investing in gold can be a tricky process. There are lots of rules and regulations that you need to know to avoid making costly mistakes.
Best Gold Investment Tools and Websites
There are so many options for where to buy gold, and it can be quite confusing to know which tools to use. Here are some of the best gold investment tools and websites we have discovered for buying this precious metal:
A website that allows you to buy gold, silver, platinum, palladium and more. The website was established in 1999 and is based in Switzerland. It has been around for a long time and has about 10 million customers worldwide. Its headquarters is located at the famous site of the Hallwyl Castle.
A popular online bullion trading platform that specializes in different types of products such as physical gold bars, coins, rounds and even bars of silver by weight or bulk bullion from your home country from your bank account.
An online trading platform that offers 24-hour live market updates which includes precious metals such as Gold, Silver, Platinum, Palladium, and Rhodium.
To make it easier for you to cut through the clutter and understand the process of succeeding with gold investments, we have listed a few steps that will help you get started:
- Learn about the basics of gold investing. Learn how it works, the benefits, and the risks involved with investing in gold.
- Understand what type of metals are available.
- Find out how much money you have available to start investing.
- Make a list of things you would like to buy with your newly-acquired gold.
Below, we will help you with the first two of these steps; the last two you will need to figure out on your own. Let’s get started!
Benefits of Gold Investments
Investing in gold has become increasingly popular among the millennial generation. It offers the promise of safety in uncertain times, with its value typically increasing during economic downturns.
There are so many different ways you can use gold in your life. Here are just five examples of what you can do with gold investments:
- Diversify your portfolio and lower your exposure to stocks that may plummet
- Liquidate your stock portfolio for liquid cash
- Trade stocks for physical gold
- Plan for emergencies or retirement
Furthermore, gold is a rare, valuable metal that has been used as a medium of exchange and a store of value for thousands of years. The production and sale of this precious metal is estimated to be worth about $7 trillion, so there’s definitely a market for it. However, many people are still unsure what the differences between investing in gold and investing in other assets such as stocks or ETFs are.
Differences Between Gold Investments, Stocks, and ETFs
In short, gold is a “slow investment” that has always been seen as a safe haven for investors. It can be used to hedge against the risks of any significant market downturns. If you are looking for a long-term investment that might not yield an explosive return immediately, but slowly build up over time, gold is an option that should be considered. However, if you are looking for the highest return in the shortest amount of time, then investing in stocks or ETFs would be better options, given their more volatile nature. In any case, you need to provide a good foundation for your investments by securing your personal finances.
Deal with any Payment Remarks or Debt Before Investing in Gold
According to financial advisors, one of the biggest mistakes novice investors make is to start investing before having dealt with their debt problems. This is much like trying to build a house on sand; since there is not a strong enough foundation from which to build, the house may crumble. The same is likely to happen if you try investing before having stable personal finances.
So if you have payment remarks or lots of debt, it’s best to get these things sorted out before you focus too much on gold investment opportunities. In general, before you start buying gold, make sure you have control over your personal finances, as you don’t want to exacerbate any potential debt issues you might have (source: https://www.lanfordeg.no/)
Having taken these precautions, you’re ready to explore some of the gold investment tools in the market.
When to Sell the Gold You’ve Bought
When is the right time to sell the gold you’ve bought? When you’re in a position of strength, and when you’re confident about your investment. Selling the gold in this case means selling when there’s no longer any growth potential or use for it – when it’s just taking up space or is too expensive to store.
We hope that, after having explored these basics of gold investment, you’re in a position where you feel confident enough to start the process of investing in this precious metal to reach your financial aspirations. Feel free to ask us any questions. For now, good luck!