What do you know about gold? A chemist might answer with gold’s chemical symbol or atomic number (Au and 79, respectively). A jewelry lover might say they prefer 24 karat gold because of its 99.9% purity.
Can You Successfully Invest Gold or Other Precious Metals?
Gold, while technically a raw commodity, has been used historically more as a currency when it isn’t used to make statement jewelry. The news is filled with the fluctuating value of the U.S. dollar. Some people may wonder if buying gold is a safe move for their investment portfolio.
The good news is that gold and other precious metals are seen as a more stable option than some other investment options because the price of gold does not fluctuate as much as the U.S. dollar. This is because while the value is always changing as gold is being traded all over the world, its value does not change too much in free market.
How Can You Buy/Invest Gold?
Surprisingly, it can be done as so many things are now done: online. The U.S. Mint website has a link to buy American Eagle Coins, which are 22 karats. These coins actually account for 80% of gold circulation in the U.S., and considered the most traded coin in the world as well.
Those who prefer to invest gold bars for future security will find a 10 ounce bar is the standard size sold in a U.S. gold selling shop. There are other options other than holding on to a physical bar of gold though.
There are different investment products that deal with gold and precious metals. Each offers its own advantages and disadvantages, such as liquidity or growth.
Although recent news stories show gold prices as having dropped slightly, the long-term prospects are generally regarded as positive. As always, it is an investment that requires a buyer/seller to take due diligence.
