If you want to use gold in your investment portfolio, then it’s important that you learn how to do that safely. It’s not as simple as just diving in head first, but it doesn’t have to be complicated either when you have the necessary information. This article is going to help you make those gold investments.
Before you buy gold from a dealer, get a guaranteed delivery date. If the seller delays delivery, you have to get a written confirmation on when the expected delivery date is. You should have the date of delivery clearly listed. Do not complete the order unless you have this in writing.
The day that you plan on buying gold, check its spot price. This price changes every day. You can locate it on several different websites. Only place your order if you can find a dealer willing to sell for an 8% markup or less over the spot price. Many times sellers will try to sell it at a higher price.
When sending off your jewelry, you need to consider the shipping cost to you if you’re not satisfied with the offer given. They may not charge you to send it to them, but they could gouge you to send it back. It’s best to be prepared so you are not surprised by return shipping charges.
Try using something like GoldMoney for buying gold. This is the equivalent of establishing a gold bank account. With GoldMoney, you pay for a certain amount of gold at market rates, taken from your account, and it is reserved for you. The gold remains in the bank until you sell it.
Avoid letting people know that you are planning to sell your gold. You can’t be sure who’s listening or who is trustworthy. Keep your investment private and secured, preferably in a safe. In this way, you can be sure your gold investment is safe.
Never pass up an opportunity to search for gold in a thrift shop or antique store. You can find bargains in those places when you’re aware of what you want. Often, gold ends up in stores like this because the original owners didn’t realize the items they had were valuable. If you know what you’re doing, this can be your benefit.
You can use a magnet to determine the authenticity of gold. Precious metals do not respond to magnets. Sometimes a jewelry piece is only plated in gold with a solid gold clasp. This can be a useful method of testing for that.
Be sure to do your homework about current gold values prior to any investment decision or action. Many people will offer you their own insights and assure you that they’re providing real investment expertise. When they make huge promises, they can’t keep them. Don’t think of buying gold as a means to overnight riches, and you will never end up being disappointed.
After reading the above information about gold you should be able to test your knowledge in this market. Think over everything that you went over here and be sure you use it when you’re developing a strategy for your investments. Yes, gold is a great investment that can help you plan ahead for the future.