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Buying gold-A comprehensive guide!

More importantly you should understand the difference between pure gold and gold mixed with other metals.
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There are different ways for buying gold depending on the size of your investment and your objectives. The bigger your investment, the better equipped you are with all professional aids, analysis, experts tracking market trends and news flows and more.  But, for the marginal or retail investor, this is often not the case and investment decisions come more out of impulse rather than an informed strategy.

When you are buying gold the first time, you are lured into a number of ‘irresistible offers by the scam artists. Therefore, the basic fact to remember is that there are no big bargains available in gold and if anyone is offering prices substantially lower than the current market price, you must have your eye brows up and preferably walk away to a more reliable vendor. A small premium is most often added to the day’s prices to account for the trader’s profits, overheads and taxes. A discount on gold is never offered when you are buying gold in grams.


What you need to know before buying gold

Before buying gold, it helps to understand your shopping destination and relate it to your objectives. More importantly you should understand the difference between pure gold and gold mixed with other metals. Physical gold should always be accompanied by an invoice or a certificate stating the purity and the precise weight of the gold you are buying. Your invoice will show the weight to the last milligram and not the rounded off value, especially in case of gold jewelry. An exception to this rule is when you buy gold coins and biscuits in international standard packets or brands. While buying gold jewelry you can look for different measures of quality marking. The most common accredited markings are “hallmark” and the actual markings vary from one nation or the region to the other. You should also take care to preserve the invoice and certificate since that would come in handy when you desire to convert the gold into cash or any other asset.



Make A good Golden Deal!

buying gold for investment

In the information age, it is never difficult to obtain the most latent information on gold and verify whether a particular deal that you are contemplating is genuine or not. Make the best use of the internet and all that it has to offer, before you part with your hard earned money on the assumption that you are buying gold of the stated quantity and quality. More importantly, you should look for vendors who will unconditionally buy back gold at rates prevailing on the date of sale (after deducting minimum incidentals and overheads) (Gold jewelry that is in continuous use can lose a few milligrams over a period of time due to wear and tear).

When you are making an investment in the precious metals, always ensure that you are buying from a reputed vendor. The seemingly cheap offers or ‘distress sale’ by a friend or family member can potentially be a trap. And, the last post to avoid is the auction sites on the internet because gold always has takers at ruling prices.



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