Are You A Gold Lover? Read This

November 16, 2013 by ·

Many people look towards the gold market as a means to keep their investment portfolio safe. Gold is considered by many to be a solid choice if you are looking for a stable investment even when the general economy is rocky. Just check out the handy tips below to learn how to take full advantage of your own opportunities for gold investing.

Gold’s price is always changing, which makes it important to know your piece’s value before selling it. If you choose to sell gold, weigh and value pieces that have different karat values separately. Never sell any jewelry as gold scraps that’s worth more than the gold itself due to the designer.

Think about having your jewelry appraised if you are not sure of it’s true value. Even though it is an extra expense, it can be well worth the investment. An independent appraiser should be used in order to receive the best value. When selling gold jewelry, you will receive only a percentage of the appraised value.

Melt Value

When it comes to selling gold, you must decide if you are going to sell it just for its melt value or as a jewelry piece. Many private buyers and pawn shops are only willing to give the melt value. Don’t get discouraged if you are looking to sell jewelry, as buyers are still out there.

Check the prices of golds the day you plan to buy. You can find that on a lot of websites, and that can change every day. When you do buy, avoid more than an 8% markup. While many companies attempt to charge more, this is simply not ethical and should be viewed with caution.

No matter the excitement gold buying brings, do not spread the word. You don’t know who to trust or who is listening. Do not tell others about your investment, and keep it locked up either in a home safe or at a bank. This will keep you and your gold protected under any circumstances.

Do your research before selling gold. Also, ask around to find out how much similar pieces are going for. This is a price point that you can work with. In order to be able to negotiate, you ought to give a price above the amount you really want.

One option when selling your gold is to send it away in the mail. Many people prefer this option because it is really easy. You put jewelry in a prepaid envelope and you’ll eventually get a check. Places that use this option usually pay a lesser amount. In some cases, you could get about 30 percent less for an item, so just be aware.

Gold can often be a lucrative but volatile investment. If you’re not ready for a roller coaster ride, gold investing is probably not for you. Even if you are okay with taking the risk, you need to prevent downside risks. Never invest more than a sliver of your total portfolio in gold. Stick to a limit of five percent.

Great news for gold owners: gold has gone up in price over 400 percent in the last decade. Nobody really knows when the best time to purchase gold is, as it mainly relies on the price of the dollar. When the dollar loses value, the value of gold increases.

Map out your goals prior to investing in gold. Although gold can add a nice balance to your portfolio in case of rough economic times, it is still considered an investment that fluctuates wildly. If you keep yourself protected, you’ll end up making more money with your gold.

Getting into gold isn’t that hard if you understand the ins and outs of the market. Now that you know some helpful information about gold, you should feel comfortable going into this market. Make sure you put the strategies learned to good use as you invest wisely.

Filed Under: Precious Metal Trading · Tagged: , ,

Make Money In Gold With These Nuggets Of Knowledge

November 1, 2013 by ·

In the finance world, gold is the king investment. Learn how to incorporate gold into your portfolio and develop a sound investment policy. From buying raw gold to purchasing shares in companies, there are so many things you must think about. Read on to find out about the many facets of gold investing.q

Research any mail-in gold jewelry purchaser before sending your jewelry off to them. Find out when you will receive your money, and never send your package without insuring it first. To avoid problems later on, photograph each item you are sending.

Only certain kinds of gold are suitable for contributing to your retirement fund. The IRS has to approve the gold. That means that the gold is a minimum of 24 karats, and formed as coins or bullion bars. You should be more inclined to buy gold bars, which hold greater value than coins.

Understand that any item containing gold carries value with gold dealers. It could be a broken jewelry item, table settings, home decor items or anything that is in the house. Even things that are not pure gold can have value. It could be gold plated or a bit of gold and still be sold. You are sure to turn a decent profit.

If you want to unload scrap gold pieces or jewelry items for cash, do your homework first. Many stores do not pay the going rate for gold. Local stores that don’t have outrageous overhead may be able to pay you more for your gold.

Keep your gold investing to yourself. You don’t know who could try to keep tabs on this, and you don’t want to have to worry about trusting people. Keep your investment private and secured, preferably in a safe. This ensures that you retain your gold and that it is safe regardless of the circumstances.

You should rely primarily on independent, personal research to learn about the market for gold before investing in it. There are predators out there in the gold market that claim to be big shots but just want you investing with them. Any claims that promise overnight fortunes must be taken with a grain of salt. Don’t think of it like a get-rich-quick scheme to avoid false expectations.

Investigate with the Better Business Bureau before selling your gold to any purchaser. The BBB listing should include basic data about the company, along with details about any complaints made against them. Pay close attention to whether any of the complaints were not settled in a satisfactory way. If they have many complaints or lots of unresolved complaints, consider another buyer.

Physical Gold

You can invest in gold without actually owning physical gold property. For example, many people purchase investments in gold mining corporations and mutual funds primarily made up of precious metals. If you buy physical gold, keep storage costs in mind.

Gold should be separated by karat weight before sale. A vendor may scam you by weighing what you have together by the lowest weight in karat. This will cheat you out of money. Instead, separate each karat weight before going to the dealer.

Gold Coins

One method of buying gold is to buy pre-1933 U.S. gold coins. Before then, the American economy had gold coins in circulation prior to the recall by FDR. Some people kept their gold coins. These can be purchased today.

Try to sell your gold coins when gold is selling at its peak. The stock market and gold prices change every day. You will make more money in the stock market when you understand how it works. Keep an eye out for the market to rise, then sell your gold on an upswing.

Educate yourself about gold coins before purchasing anything. There are many “gold” coins out there that are simply gold plated. One way to be sure you don’t make a mistake is to take the coin to a legitimate appraiser, who can tell you whether the coin is what the seller claims it is.

Gold maintains it’s popularity no matter what the market conditions are. Therefore, it is possible to make profits even in economic down times. This is what makes gold the choice of so many investors.

Check the monthly and weekly gold charts when performing technical analysis. You should check MCX charts to get an idea of how gold is fluctuating. Use bot of these resources to formulate the most accurate plan.

Be sure to photograph your gold before you leave it with a potential buyer. Also be sure you inquire about insurance or guarantees of the items’ safety. This information can be a protection to you if you get it all down in writing.

Inventory your items before you mail them to a buyer. Make sure you have two copies of that list. One should go in the package and the other should stay with you.

Consider how the gold was made when you buy it. Machine-made gold will not be as valuable as gold that is handcrafted. This won’t affect its melt value per se, but it will make a huge difference if it’s sold as jewelry.

If you plan to sell via a mail-in company, inquire about the firm’s reimbursement procedures in the event of loss. Many companies limit their liability for lost items. Find out if they offer more insurance if they’re not liable.

When it comes to dealing with gold, there is a lot to know. You can now make a more confident and informed decision about investing in gold. Use the advice that has been provided so you can invest in gold with confidence.

Filed Under: Investing In Gold · Tagged: , , , ,

Golden Advice On Dealing With The Ultimate Commodity

October 16, 2013 by ·

It is obvious that the gold markets are getting lots of fresh interest from buyers, sellers and investors. The key to doing well with gold trading is to acquire a large amount of knowledge and insights from successful insiders. Continue on to begin your path towards understanding the gold market.

It is important to research the current value of gold before selling your gold. Pieces with differing karat values are worth different amounts, and should be weighed separately for selling. Remember that jewelry will sell at its melt value, not the price the jeweler wants for it.

Be well informed about the value of precious metals before buying or selling gold. Silver, gold and platinum prices fluctuate often, and therefore you need to verify spot pricing the day prior to your intended deal. If you have gold that does not weigh up to a full ounce, you may receive less than the melt value when selling it.

Before you put down your money for gold, make sure you have a firm delivery commitment from the seller. If this is not possible, make sure you get a written contract outlining when the items will arrive. The date they expect you to get them should be listed. Do not complete the order unless you have this in writing.

Take a look at the spot price prior to going out to purchase gold. A number of websites feature this information, and it changes daily. Never pay more than 8 percent over the current sales price of gold. Many times sellers will try to sell it at a higher price.

If you are sending your jewelry off in the mail, make sure you investigate how much it will cost you to have the pieces sent back to you if you don’t like the offer. While most firms will pay to have you send them your items, they will charge you a considerable amount if you want them back. You want to know what those charges might end up being before you decide to send them your gold.

GoldMoney can be a good resource when buying gold. It is almost like opening a bank account for gold. After creating an account and depositing your money, you are allowed a corresponding amount of gold, which is then linked to your new account. Although you own the gold, it remains stored securely in the company’s vaults. You can sell it, portion it out, or even (given the right conditions) arrange to take deliver of it yourself.

Do not invest in any market before you have done your homework. Not everyone who claims to be a gold expert really is. They may just be trying to trick you. On the other hand, you need to stay mindful about anyone who promises you they can make you rich quick. If you do not buy into the premise that you will get rich quickly, then you won’t be disappointed.

Complaints Filed

Talk to the BBB before selling your gold to a jewelry store, dealer or gold buyer. They are sure to have information about each business, as well as data on any complaints filed. You should especially pay attention to any customer complaints filed as well as what the resolutions were. If they have many complaints or lots of unresolved complaints, consider another buyer.

Figure out who your dealer really is before you buy gold from them. Check the Better Business Bureau to make sure a gold dealer can be trusted. Get in touch with the BBB to find information about which complaints, if any, have been filed. If you find filed complaints, you may want to think about going with a different dealer altogether.

Check prices before selling online. It’s not uncommon to find more favorable pricing from local buyers with physical locations. Convenience is lost, but it’s worth it to make more profit.

When you choose to pursue investing in gold, you must take a long-term approach. Don’t only purchase gold when the prices are high. In fact, when prices are high, you should be selling. Ignoring the market when buying gold will give you a better price overall.

If you’re just starting out with gold investing, you should try not to make things complicated. Avoid complicated investments such as gold futures. Futures are complicated and fluctuate wildly. If you do not understand the process, you can lose money fast. Leave those more complex investments to the experienced investors.

Nobody should be surprised by the immense interest generated by the potential profits of smart gold investing. Maybe you’ve always wanted to learn about this market. By using the things you learned here to deal with gold, you will find yourself to be successful.

Filed Under: Investing In Gold · Tagged: , , , ,
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