Gary Giardina
People like the look of gold, and they'll do what they can to get it. Even though it costs more now, people still want it. If you're interested in investing in gold, do some research before you shell out the money for it.
Here's some things you should know before you take that big, financial leap:
In addition to gold coins, there are different ways that you can you can invest. You can use metals, mutual funds, mining company stock, or futures, as additional ways to make investments with gold. You can also invest in gold using bars, if you wish.
You can get more information by going to a metal dealer. Or you can search online to find some reputable ones. If you are a first time investor, it might be better for you to visit a facility to speak with a dealer in person.
If you have a lot of questions, you should write them down. Find out how long the dealer has been established. If they've been there a while, chances are they are very knowledgeable about what they do.
You'll want to educate yourself before you visit with a dealer. That way, you'll have an idea of how investing in gold really works. You'll also find out if what the dealer is telling you lines up with your research.
If you do decide to pursue this, you should also think about investing in gold stocks and funds. It's been proven that gold funds are a reliable choice to invest in. However, when you're dealing with stocks, you're dealing with a single entity. That means the gold stocks are not diversified and your investment isn't as reliable as gold funds.
When you're trying to decide what you're going to purchase, don't be in a hurry to make a decision. Don't buy the first thing you see because you may regret the purchase later. All gold pieces are not easy to sell if you want to get rid of them.
You can also purchase certificates as an alternate option. This for you, would solidify that you own a piece of gold.
When researching about gold, find out how much it would be worth if it was kept polished and free of nicks and scrapes? What about if it's not so polished? More than likely, it won't be as much as the former. The better you maintain your gold, the better price you can get for it.
Investing in gold futures is for those who can afford to take the risk. If you're just starting out and don't have the money to risk for it, then you should pass on this for now. With futures, you have to be certain that you can handle the volatility of this segment.
Futures is considered a financial risk because you have to constantly figure out whether the price of gold will go up or down. Sometimes you may hit it on the head, other times you may not. If you get involved in this, you will have to either buy or sell for a certain price. The dependence on how much the gold is worth during that time determines how much money you will make.
