There are two main ways to invest in gold. These are to buy gold or to buy into gold company investments on the stock exchange. Many investors recommend that it is worthwhile to invest in both these two gold baskets.
Gold and silver bullion act as a form of saving or financial insurance, protecting your wealth from market downturns and inflation. Central banks keep gold in their vaults as a backstop in case paper money depreciates or becomes worthless. It therefore makes sense that individual investors also buy and sell gold and silver bullion and include it in their portfolio.
Gold bars and coins must meet regulatory manufacturing standards. Their mass and the purity of the gold must be labelled and recorded for it to qualify as investment grade gold bullion. A typical gold bullion standard contains 99,99% gold, though some older bars at 99.6%. Gold bars come in various sizes ranging from 1/2 troy ounce bars to 400 troy ounce bars. The 400 troy ounce bars are mostly bought by central banks.
Investing in gold coins is a good choice for a new investor or coin collector. Coins are dated, come in different weights, and historical value. Gold coins are issued in 1 troy ounce, 12 troy ounce, 14 troy ounce, 110 troy ounce, and 120 troy ounce.
When should you sell your gold bullion?
The overall financial growth of gold during history is unquestionable. Gold prices fluctuate but are presently high because gold performs best in times of uncertainty and due to inflationary pressures from central bank money printing. In August 2020, because of the government response to the global pandemic, the gold price hit $2067.15 an ounce — its highest price ever. Many of us were cash strapped, some unemployed because of the pandemic. Gold continues to fight the trend, and times like this would be a good time to sell gold to Brisbane gold brokers or whichever dealer is offering the best price and one will offer you money in hand for your bullion.
It is difficult to predict the rise and fall of the gold price, and top financial advisors may get it wrong. Before you sell gold bullion, study gold forecasts and analyses to find the right time to sell. The best time to sell gold Brisbane is when you need the money and when you can make a profit from your investment. If you hold onto gold bullion, you are preserving wealth, but you may find a time in your life when you need to sell your gold not at the best price. So talk to your local Brisbane gold brokers about what the options are.
When you decide to sell gold, follow these simple guidelines:
- Follow the three quotes rule to get the best price.
- Be streetwise and consumer aware when choosing a gold buyer or dealer.
- A reputable dealer in Australia must have a second-hand dealers license.
- Educate yourself on how gold is weighed and valued.
- Always phone an online company and speak to a consultant to know that it is a genuine business.
