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I want to buy some gold as Ive been told that it’s a really good investment right now due to its high value but don’t really know much about it. Any help please??
5 Answers
Before parting with your hard earned cash you must know that investing in gold can have its downside too. Prices can fluctuate at the drop of a hat. Gold bullion is not meant for trading, most experts recommend holding on to it for a minimum of 3 years.
Always compare dealer prices it’s very important to do this when you want to invest. It’s easy to do just give them a call and compare. All bullion sells at a premium above gold spot price. You can find the spot price on precious metal exchange website.
As the saying goes all that glitters is not gold! You need to be careful of dealers offering free storage or delayed delivery. If it’s too good to be true then it usually is! Trust your gut feeling. Find a dealer who is with the Better Business Bureau. Check out their reputation. Check references etc. Make sure you are confident in what you are purchasing is actually real.
Once you know what gold you want to buy then the next question is where to buy it. Dealers tend to be the most expensive. You can get some good deals on eBay.. Plus you have to verify the seller is selling the genuine article and not some fake of course. Practicing due diligence is very important when buying gold bullion online.
The best way to save gold is to accumulate some at regular intervals. Each month or each regular period just buy some gold. The price may be up one month or down the next but it’s the consistency that counts. The value of your gold will even out and tend to rise in the long term as the value of gold goes up against the value of currency.
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