In today’s gilded world of celebrity, we are surrounded by demonstrations of wealth and prosperity. You only have to browse the latest offerings from the so-called Rich Kids of Instagram to see prime examples of our new blingtastic world. Private jets, gold plated supercars and handbags which command unimaginable price tags, all set the tone on their social media posts.
For the rest of us, buying and selling precious metals is something that we probably do just occasionally. Perhaps we are looking for a special gift to mark an occasion such as a milestone birthday, graduation or marriage. Indeed, an engagement ring for our loved one is probably the most expensive single purchase that us fellas will make in our lifetime, aside from our homes, that is.
That said, with gold and jewelry becoming all the more accessible more and more of us are dipping their toe into the market.
If you are looking for advice on how to buy physical gold, then your best bet is to approach a specialist precious metal retailer. These can be found all over the world with some of the best locations to begin including the Far East, Hong Kong, and Dubai.
Even in today’s unpredictable economy, the gold market has managed to remain relatively stable while other markets have peaked and troughed uncontrollably around it. So, if you fancy having a go at buying some gold as an investment then why not. Not only does gold generate a reasonably good return it is also an asset which is quick and easy to liquidate if the need arises. That said, you need look no further than this blog for some top tips on how to invest and get the best deal.
Know your product
You wouldn’t go out and buy a car without doing your research first, so make sure that you do the same when starting out in the gold buying game. Ensure that you are familiar with the different types of gold, how they are made up of component parts and familiarise yourself with the hallmarks and the current market rates.
Know about value
Whether you are buying gold jewelry or coins, it is important that you have an accurate and realistic idea of their current market value. Rates will vary massively, especially in the case of collectible or rare items. So do your homework, identify their potential and, if necessary, seek advice from an expert.
Avoid specialist markets
Unless you are an expert, it is best to avoid purchasing items with a particular history or provenance. Stick to the mainstream gold market for now, at least, there is plenty of time for studying antiques when you have made your fortune!
Have money will travel
Nowadays the world is a seemingly much smaller place, so take your knowledge and explore the worldwide market first hand. Buying gold in a souk in Dubai could make you a tidy sum on the retail market back home.
Finally, be vigilant. The gold market is a fascinating one, but it can also be rife with unscrupulous traders. Keep your wits about you and invest wisely. Good luck!