Buying gold a sure way to the riches?
Buying gold won’t make you rich. But, owning this precious metal will. This seemingly obvious truth escapes many people who buy expensive gold jewelry, as dictated by the latest fashion, and after a month or so, throw it in the bottom of the jewelry box. Not only are these gold bracelets, necklaces, rings, etc. usually made of the low karat value (9 to 14 karat is the norm). More importantly, their intrinsic value is not that of the precious metal, but the jeweler’s work, with the fashion store mark-up added on top of it. Worse still, when you see newspapers’ ads by dealers buying gold, you’re the first to ring and sell whatever has lost its luster. And, because the price you get for your scrap is in the vicinity of 25-35% of the purchase cost, you’ve lost money. That’s not the way to go about buying gold!
When you realize why and how some people are buying gold, you may be interested in following their tracks. For there are great riches to be had, if you follow the right advice, and decide to take action.
If you have some excess funds you want to keep safely, nothing beats the idea of exchanging your dollars into the gold metal treasure. Even better, speculative investing in gold may deliver you good returns with the added benefit of security. Nothing performs better than gold and its stocks in time of political uncertainty. Why? Because everybody is buying gold for its stability and world-wide recognition as a valuable commodity.
Where do you go to buy gold?
You virtually have two options: wholesale gold buying, and sourcing it from private dealers. The first option is not really opened to the majority of people. There are minimum quantities involved, starting at 400 troy ounces. Even if the price was only 600 per ounce, you’d have to pay $240,000 to become a wholesale buyer. Gold Exchanges and banks in each country keep stocks of gold bars, bullion and ingots available, if you decide to go this way…
For the rest of us, it means a few phone calls to the local gold dealers, checking their prices and placing the order. If you consider that as recently as August 1974, no American citizen was allowed to buy, sell or own gold, this is a truly remarkable opportunity.
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