Photo: Flickr / hto2008
Don’t knock it until you try it! Most people don’t invest in gold because they feel that it’s not as easy as it is to invest in paper. It’s unfortunate because that’s simply not true.Investing in gold is just as easy to acquire if you know how to do it.
Why Invest In Gold Now?
Let’s talk about why people are investing in gold before understanding how possible it is to invest in it. You’ve most likely noticed that interest rates have plummeted and they aren’t rising anytime soon. The value of the dollar and euro has sunk and they don’t seem to be getting any lifesavers.
What this means is that many people are turning to gold because that’s what investors historically have done. As soon as the economy takes a downturn they run to the gold market. So what happens when everyone starts buying? There’s less available and whenever there’s a high demand for something, prices soar.
Now, with the economy stuck in the gutter, gold continues to be bought up before it’s even found. Experts are saying that the prices for it will rise in 2012 and continues all the way up to into 2014.
If you’ve heard the saying, “Buy low, sell high” then you know that right now is the time to buy. Of course, you could have bought years ago and gained much more from your investment but hey, you can’t go back in time. All you can do is look forward and control your destiny.
Gold is lower now than it will be in another year, so take advantage of it. Don’t look back in two years and think, “I really should have bought then.”
OK, so now that you know why you should invest in gold, let’s start talking about how you can invest in it.
How to Invest in Gold Online
Online investment in gold is easy! All you need to do is find a reputable company, which is easy to find because some of the most prominent ones are backed by the Better Business Bureau and the most reputable precious metal associations. Just make sure you do your research so you aren’t buying fake gold or sending your money into a scammer’s wallet with nothing in return.
One you find a website you trust you can decide whether you want to buy gold coins or bullion. Usually, people who want to invest a few thousands of dollars will go with bullion while modest investors stick with the coins.
When you decide what you want to buy, you can start to stalk the prices of them. Do it for about a week or so until you get comfortable with the highs and lows of the market. When you see a price that makes you want to jump on it because it’s lower than what you’ve been seeing, all you have to do is lock in the price with your credit card online or by calling the company.
After you’ve locked in the price, you’ll have to make arrangements to prove your identity to the company and send them the money. This can usually be done with wire transfer or personal check. Each company has different requirements for how long you have to send your payment, but it’s usually 48 hours.
Once you have made your payment and proved your identity, you are a proud gold investor! You can then have it sent to you for storage or if you are using a company that also has storage capabilities, you can purchase that option. It all depends on what you want to do with your gold.
So now that you know how simple it is to invest in the gold market, it probably doesn’t seem so intimidating, does it? Go ahead and check into it. You’ll be amazed at how lucrative this market can be and you’ll get excited when you finally make that decision to plunge into it.
This post was written by a personal finance blogger, Marcelina Hardy, who enjoys spreading the knowledge of investing in gold.