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5 Ways to Get the Best Deal on Gold Investing

By    |   Wednesday, 31 January 2018 10:06 AM

Gold investing includes buying the physical metal or putting money into a gold stock or fund. The price of gold depends on many factors such as economic or political crises, war, or inflation.

Gold is not only an investment but also a type of insurance. Whether the price is high or suddenly drops, gold is always worth something, and it may be worth a lot if the economy collapses. Still, you don’t want to simply look for a bad economy when gold investments can provide wealth.

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Consider these five ways to get the best deal on gold investing:

1. Buy the right physical form — Available in bars or coins, bullion is safer than higher-risk mining stocks. American Eagle, Canadian Maple Leaf, and other North American gold bullion coins are usually easy to buy and sell, according to Bankrate. You can even include the coins in individual retirement accounts. Stocks offer lucrative possibilities, but bullion is a secure way to maintain wealth.

2. Take advantage of low prices — It’s a good idea to follow gold prices for a while before you begin investing, writes Kate Williams for ConsumerAffairs. Like other investments, the goal it to buy low and sell high. Since gold is a form of insurance, buying when prices drop can offer financial protection in the future.

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3. Demand more returns — Gold is usually sold at 5 to 8 percent above the current or spot price. Sellers sell at the spot price. This is a concern when considering your investment. You want to get more in returns than the amount you invested if you are more interested in making a profit than simply using gold as insurance.

4. Select a reputable adviser — Although making your own choices might seem tempting, a financial adviser well-versed in the gold market provides knowledge and experience. Get all the facts about the advantages and risks involved with investing in gold. Make sure the price quote is the final price you will be paying.

5. Compare dealers — Aim for low pricing by checking the different dealer and exchange websites. Research the reputation of dealers. The U.S. Mint provides listings of gold bullion dealers. Consumer review sites also help in finding good dealers while avoiding questionable ones. Be wary of huge discounts that seem unrealistic. Avoid TV ads or cold calls about gold offers.

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Gold investing includes buying the physical metal or putting money into a gold stock or fund. The price of gold depends on many factors such as economic or political crises, war, or inflation.
best, deal, gold, investing
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2018-06-31
Wednesday, 31 January 2018 10:06 AM
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