Hi everyone! Here’s a quick post discussing 5 of the most common questions people have about purchasing gold.
1. Who Should Invest in Gold?
- They are interested in finding a way to safely invest in their future
- They would like to diversify their portfolio
- They are would prefer to invest in a physical asset that is extremely unlikely to lose its value.
- They are looking to start a retirement account
- They would like to add to their retirement account
- They would to transfer some of their existing retirement account to Gold IRA.
2. How Much is Gold Worth?
The price of gold differs based on the type of gold you are purchasing. For example, if you are purchasing gold jewelry, the price is going to be a lot different than if you were purchasing gold bars, which are primarily purchased for investment purposes.
The quality of the gold being purchased also affects the price. The price of 14k gold is going to be different from the 24 karat gold price.
I’ve written another article that talks about where you can find the most accurate information on the value of each type of gold.
3. Where Should I Buy Gold?
- Gold shops
- Large gold investment companies
I almost always recommend purchasing gold from large investment companies. The only exception to this is if you are buying jewelry. In this case, it is important to be able to try the jewelry on so you can see if you like it.
If you are gold buyer looking to buy gold that isn’t jewelry, you are much better off purchasing from a gold investment company. To be more specific, I would recommend purchasing from a large gold investment company if you are looking to purchase…
- Gold bars
- Gold coins
- Gold to start a retirement account
- Gold to add to or edit a preexisting retirement account that you have
- Gold for any other type of investment purpose
If you would like to read a detailed article that will help you decide if investing with an established gold investment company is right for you, and provide a recommendation on which gold investment company will give you the safest, easiest, and most cost-efficient experience, please click the link below.
4. Do Successful Investors have Gold in their Portfolios?
Here’s a couple quotes from a few famous investors to help answer that question:
“Gold is constant. It’s like the North Star,” – Steve Forbes
5. If I Buy Gold Now, Will it Become More Valuable in the Future?
History has shown the answer for this question to be…
Here are some of the reasons why this is the case:
- Gold is one of the few investment opportunities that protects investors from both inflation and deflation.
- Since there is a finite quantity of gold, and demand for gold is almost always very high, it is nearly impossible that the supply of gold can keep up with the demand. This explains why the price of gold usually increases at a fairly steady rate.
- Believe it or not, the value of gold actually increases when there is political unrest. During times where there is political instability, people look for safe investment options. Most investors know that gold is one of the safest investment options, so the demand skyrockets during these times, causing the price to also shoot up.