Stocking gold is a highly rewarding past time and part time job for wealthy people. Any body who deals in gold would know that stock pilinggold and silver is no loss and all profit since their value does not decrement with the decrement in the currency value. If you are interested in paying cash for gold and store your money in the form of gold assets then you must know a few basic points: • First of all you need to decide whether you want to buy actual solid gold or just invest in gold market.ifyou want to buy actual gold, the options are scrap gold, gold bullion rods and gold coins. Gold coins are the most preferable option if you intend on reselling it later. If you want to buy gold without keeping the gold yourself then some banks offer gold banks. You can buy gold stock shares in a mining stock. Gold ETFs are exchange traded funds which are like shares. Their prices increase with the increase in the gold price. Gold futurecontracts can also be made for investing in gold but you need to take advice from a stock broker when doing so.
• The next step is deciding how much are you investing in gold. Experts advise to buy enough gold so that it equals about five percent of your total investments. You need to put aside in advance the cash for gold. If you plan to resell the gold later then best optionis to buy gold coins. If you bulk gold then you have to find a wealthy buyer to sell it tobut if you convert your gold to gold coins then you can sell them to casual buyers. Take caution when buying gold coins. Do not buy collectors’ coins since they don’t sell easily. If you want to invest in the gold market then best optionis to buy gold stocks. • The price of gold increases every day so when should you buy gold? When you decide to buy gold, take advice from a financial advisor who is knowledgeable about the gold market and stay on top of the prices. Always look out for spot prices per Troy in the market since that is your payable cash for gold.
To monitor the investments you made in the gold accounts or gold stocks, check regularly on the market intelligence reports online. • You can gather your gold assets by first asking your friends and family if they have some unwanted gold coins or scrap. You can also place an ad in the newspaper. World Gold Councilregularly updates their site about gold market so you can monitor online internet auctions or selling markets. A good approach is to maintain friendly relations with your local jewelersand pawn shops so they can inform you if they have some gold coins or anything you would want. • Before starting to buy gold, you should keep in mind the tax implications on the buying and selling of gold.