How to Invest in Gold?

Are you looking for ways to expand your investment portfolio and think gold is a good fit? Maybe you’ve been curious about investing in gold for some time but aren’t sure where to start? Gold can be a great investment, but it is sometimes intimidating to get started with. In this article we will give you some easy steps to help you get started with investing in gold and the different ways in which you can do it.

how to invest in gold

Is It Smart to Invest in Gold?

Many people feel drawn to investing in gold as it is a real and tangible thing that can be measured. Unlike stocks, gold is a natural resource and is something that can be held in one’s hand. It is beautiful and desirable to nearly anyone who sees it. Gold is a valuable investment vehicle for more than just it’s esthetic quality.

Gold has been valued for thousands of years and is still considered to be highly valuable to this day. Less than 100 years ago, the gold standard was the monetary system which we used to link the value of money to actual gold. Though this system is no longer in place, gold is still very important in society.

Just like any other investment, the value of gold can increase or decrease over time. But it will always hold value. For this reason, many people choose to invest in gold for security. Though gold may decrease in value, its value will never entirely diminish as it is tied to its physical presence.

How Can I Invest in Gold?

There are a variety of ways that one can invest in gold. See our list below for some common ways to invest in gold and determine which course of action will be right for you. There is no right or wrong way to invest in gold, but it may be helpful to speak with a financial advisor to help you choose the right method based on your goals and personal portfolio.

Purchase physical gold – purchasing physical gold can be done through buying bullion coins such as the  Canadian Maple Leaf. The price of bullion coins is easy to understand, and you can buy and sell your coins safely. For more information on how to purchase gold see our article “How To Buy & Sell Gold Coins”.

Invest in gold ETFs or mutual funds – this is a common way to invest in gold without having to purchase physical gold. Gold is considered to be a safe investment and choosing to invest in a gold ETF or mutual fund is typically a good investment. Mutual funds are a good way to include diversity in your investment portfolio and gold can be an important part of it.

Invest in the gold industry – by investing in the gold industry such as mines, you are indirectly investing in gold. Though this may not be the most common way to invest in gold it may still be a good investment for you. Consider speaking with a financial advisor to see if this is a good option for you. Though it may be less conventional it may still be a great option for your goals.

invest in gold

How Else Can I Make Money with Gold?

Another way to make money with gold us by buying and selling gold pieces. If you have been collecting or have inherited gold jewellery or items, you may be able to sell these items for cash. Reputable gold and jewellery buyers such as the professionals at Pinto Gold and Jewellery Buyers will buy your gold at a fair price. Though buying and selling gold jewellery can be intimidating a professional will be able to make the process both easy and profitable. See our article “Tips for Choosing Where to Sell Estate Jewelry” for information on choosing where to sell your gold and jewellery.

You may also find that buying and selling gold coins can be an enjoyable and profitable hobby. Though you may experience a learning curve when learning about the industry, collecting and selling coins it is both fun. It’s a bonus that it can also be  a good way to make money too!

Should I Invest in Gold?

Investing in gold is usually a good idea for most people. Many financial advisors will suggest that you invest some of your money in gold. It should be noted that investing in gold is simply one part of a bigger picture of your investment. For the best returns consider consulting a financial advisor who can help you choose the right gold investment path for your goals.

 

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