Gold is widely known as the most secure investment you can put your money into. Unlike other forms of currency and shares, gold is unaffected by any decision any government in the world makes. This makes it an ideal safe haven for people to invest money into.
There has never been a better time to invest in gold. Over the last 3 or 4 years, the price of gold has steadily increased, reaching a peak of nearly $2000 an ounce last year. Although that figure has since went down, the uncertainty about the struggling Eurozone and doubts about the world’s economy means many predict the price of gold will soon rise again.
So why doesn’t everyone invest in gold? Although it is known as the most secure investment, your money is only safe if you understand the market you’re investing into. There are also security issues and insurance costs to consider too, but these are minimal in comparison to the profit that can be made.
Gold is highly sought after, for its beauty, rarity, indestructibility and the status associated with owning the metal. There are many different types of gold that you can invest into. Coins, such as sovereigns and Krugerrands, and bullion bars are the most common forms of gold to invest in.
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You can both own and keep these metals yourself, or you could own gold whilst having it kept safe in someone else’s vault. A number of organisations run certificate schemes where you can invest in gold without having to store the bars yourself. The certificate issued to you shows the amount of gold that you have bought that you can trade like any other form of gold.
It may sound simple, but the key thing to remember when investing in gold is to buy gold when the price is low and then sell it when the price is high. Don’t be caught out by investing in a market when you’ve heard it’s on the rise. Although you would make money if the price of the gold continues to rise, it’s likely that the price of that investment could fall as quickly.
It is extremely important that you only take advice from people and companies you trust. There are many dealers out there that will try and provide you with false advice to buy your gold for a cheaper price than it is actually worth. The price of gold is widely available online, so check the official value of your precious metal for yourself before clenching any deals.