Does it Still Pay to Invest in Gold?
In recent years, the price of gold has risen sharply. In times of financial uncertainty, many people need a foothold, which means investing in gold is generally a good idea. By the way, gold is a pretty scarce product: the gold mines are slowly being emptied and demand is increasing. Are you planning to invest in gold? Take a look at our tips below.
1. Is now the best time to invest?
It’s always difficult to determine whether this is the right time to invest. The fact that gold prices have undoubtedly risen over the past ten years and the expectation is that this this will continue should give you an idea. Ultimately, it also has to do with the economic markets and your intention to invest.
2. Remember your investment goals
Set short and long term objectives, make the right investment choices and stick to your plan. Don’t let daily market changes change your strategy, but look at the complete picture.
3. Do not put too much in
Invest if and only if you can afford it. It might be better to invest smaller amounts at first and slowly build up investments over time with an eye on the economic market.
4. Those who own the gold have the power
There is only one market in gold. Don’t be left behind with worthless gold certificates.
5. Always buy/sell through a respected, reputable dealer.
Going directly to a refinery can mean you get a better price.
6. Invest in precious metals
Aim to invest 10-15% of your investments in precious metals. This increases the degree of diversification and protects you from fluctuations in the value of each type of asset.
7. Buy small coins
Buying physical gold can cause storage and insurance problems. However, small blocks or coins are portable and easy to store. It can also bring some comfort during uncertain times.
8. Gold always has value
Unminted gold is an irremissible investment. A company can disappear and shareholders run the risk of losing everything. You don’t have those concerns with gold. An ounce of gold will always be an ounce, so to speak. There are many different risky investments that people make because they’re desperate for a quick return in a short period of time.
9. Don’t look at the daily value fluctuations
Sit back, relax, and enjoy your investment. It’s a long-term investment so don’t be afraid of daily movement.