For as long as I can remember, gold is where the money is. As more people have been investing in homes and stocks and shares during the past decade or so, a minority of people have invested in gold bars and bullions. The cost of gold varies but the value increases steadily compared to other investments. The price of gold has more than doubled in just the last year, so as property values dwindled gold stuck at an all time high.
How does gold investment work?
There are different types of gold investments around from gold bars, coins, jewellery and even paper gold. When people invest in jewellery remember that only 21-24 carat gold has value, so don’t bother splashing out on cheap 9ct gold thinking you will double up when you sell. The higher the raw materials in gold the better the price so you may want to have some of your belongings valued.
They all vary in price but the most sought after is a gold bar; not only does it not lose value but it is easier to sell afterwards as well. You can even buy large amounts of gold from companies that will store them for you, so you won’t have to compromise on home insurance. The only down side to this is you will have to pay for monthly storage costs and insurance.
Just like everything else, there is a market price for gold and this changes. The value of gold can decrease but not as much as the variation in property over the last few years. If the price of gold is not as high this month compared to last month, you can be sure it will definitely pick up in the next two months. So this means that if you need to hold out to get a better price, you won’t have to wait long.