22 Dec Buying Gold: All You Should Know
Buying gold is one of the soundest, safest investments you can make. The currencies of the world’s economy are constantly fluctuating, but the value of gold remains steady, never taking any long-term loss. However, you shouldn’t go into this casually. If you’re a newcomer, you should make sure you’re well-informed before you make your purchase. Here is everything you need to know to make sure you reap all of the benefits of buying gold.
Precious Metals Have Inherent Values
The value of gold is not subject to any external economic condition. You do not have to worry about fluctuating market value, because gold will always be valuable. The market price may change, but the intrinsic value of gold will not. Because gold retains value, buying gold is one of the lowest-risk investments you can make.
Understand the Market
Gold will always be valuable, but the market price of gold can still vary! Gold is a physical currency, so its price is linked to global markets. The dips that it takes will always be short-term, because gold retains its value, but you should still watch the market to make sure you are buying and selling at the right time. Financial publications, industry websites, and news will help you understand the market.
Do Your Research on Your Seller
Before you buy any gold, research the product you are buying. If you are buying from a middleman or reseller, the price will be higher than buying directly. And just because gold is a low-risk investment doesn’t mean that there aren’t people who will try to scam you. You could be sold gold with a lower karat than marketed or even counterfeit gold! Make sure to buy gold from a reputable source, such as The Gold ATM.
Buy Bullion, Not Jewelry
But what is bullion? Bullion refers to pure gold in bar, ingot, or coin form. A gold bar could weigh just one ounce, but as that weight goes up, so does the value. If you’re buying gold as an investment, it is better to buy bullion than gold necklaces, earrings, or other jewelry.
Understand the Laws and Regulations
You can buy small amounts of gold anonymously, but if you’re buying large quantities, there are a few legal requirements you’ll need to meet. Gold that’s held for less than a year is subject to the Capital Gains Act, and some forms of gold fall under the Broker Reporting Act of 1982.
How to Store Your Gold
Find a safe, secure place to store your gold before you buy it. If someone steals it, they can liquidate it quickly and easily, so you need to make sure that your gold is safe from harm! There are a few options here. The first is a safe that you can keep in your own home. You can also store it in a rented safe deposit box at your bank. Additionally, many gold depository businesses will allow you to store gold in their facilities for a fee.
If you’re looking to buy gold, do it at The Gold ATM. Call 770-843-4653 to get started.