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Buying Physical Gold For Investment? Don’t Miss These Tips!

For a diversified portfolio, you need to invest in precious metals, besides stocks, commodities, mutual funds, bonds and ETFs. What can possibly be a better choice than gold? Despite the focus on ETFs, physical gold remains in demand and is a universal asset. A lot of people buy physical gold because they know that the demand would never fade, and there are all kinds of options, right from gold bullion, bars and coins to jewelry, rare coins and precious items. If you want to buy gold purely for the purpose of investment, we recommend that you check the tips listed below.

Look for the basic things

When it comes to gold, you need to understand the aspects related to purity. Pure gold is very brittle, so it is always mixed with some metal such as copper. Now, the purity of gold is measured in karat, and the best you can buy is 24k gold. Most of the bars, gold coins and bullion are made of 24k gold. For jewelry investment, you can buy 22k gold at best, and while there are many brands that make jewelry with 18k and 14k gold, 22k gold is ideal for investment. Diamond jewelry is usually made with 18k gold. Rare gold coins, on the other hand, are not valued in terms of the spot price of physical gold alone. The actual uniqueness and rarity of the coin determine the price you pay.

Your dealer is important

You want to be absolutely sure that the gold you buy is worth every penny spent, and for that, you must find a dealer you can rely on. Keep in mind that pawn shops may have genuine things and items, but most of the time, there is no way you can ascertain if a particular product is worth the price. Also, pawn shops don’t have inventory, and there are endless cases where people have been duped in the worst possible ways. Before you select a gold dealer, make sure they are experienced, have a physical store, and deal in precious metals on a regular basis. They should be willing to buy your gold back, when you are in need of dire money.

Check online for gold dealers near you, and do pay a personal visit to find the range of gold you can choose from. It’s your hard earned money, make the most of it when you spend!

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