Your Guide to Buying Gold.
The basic things you need to know.
You have made the decision to buy Gold, its a great way to protect yourself against inflation, well done.
But now what do you do, here is a basic guide to ensure that you get the best value on the market and avoid some of the pit falls, that can arise as a first time Gold buyer.
Ensure the Gold bullion is 999.9 fine Gold. That’s the highest quality on the market, so is the best to buy.
Buy your Gold from a company that is well respected in the industry and where the origin of the Gold is known. Buying on auctions sites is asking for trouble, as no guarantee can be made on the origins of the Gold.
Ensure that the company has a buy back policy, you should be guaranteed to receive the ‘spot’ price on the day you want to cash your Gold in, nothing less. Bear in mind that you will be liable for postage costs if you have had the Gold delivered to you, but if it is in storage with the company you purchased from, you should receive the full ‘spot’ price.
Check the percentage over ‘spot’ that the company are asking for their Gold, this can exceed 79% , even with the main Gold suppliers, but be as low as 15% for customers buying 10 grams, with some companies.
To avoid nasty surprises make sure you check both the delivery costs and the storage costs. Some companies offer low delivery costs, that still are fully insured, whilst others charge a fortune. Some companies also offer free storage, even if for a limited time, this is worth having.
Gold should not be looked at as a way of making a quick buck, prices can go down, as well as up. This is a basic guide to help you get the best value gold for your cash.
Gold should be looked at like a long term savings plan, it is estimated that the price of Gold will continue to raise. In the last year the value of Gold increased by 35% (2015-2016).