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Gold is a versatile commodity. It is widely used in jewellery, dentistry, electronics and more. It is equally versatile in your investment portfolio. Gold is: The value of diversificationbut it’s also a great way to Hedge against inflation and other risks and market adjustments.
Gold can be a high-growth assetThis is reflected in the increase in metal prices from January 1 ($2,063.73 per ounce) to January 14, 2019 ($2,063.73 per ounce). May 20 ($2,439.98 per ounce)That’s an increase of more than 18% in less than six months.
But if you Invest in GoldWhen starting out in investing, it’s important to get the best price possible. And there are several ways to reduce the cost of investing in products that investors should be aware of now. Below we’ll take a closer look at three of them.
Invest in gold with the help of leading gold dealers today.
How to reduce your gold investment costs now
and Gold is currently trading at $2,334.74 Per ounce, gold is relatively expensive to get started in. However, there are ways to save as a gold investor. Here are some ways you can reduce the cost of investing in gold right now.
Buy when the price is low
One of the best ways to reduce the cost of investing in gold is Buy the product while the price is lowAnd now is a great time to do just that. Just a month ago, gold was trading at $2,439.98 per ounce. Given today’s price of $2,334.74 per ounce, you can buy the commodity at a discount of more than 4% from its recent highs.
But you need to act now. Gold prices are cyclical, and as they rise and fall in value they are usually followed by a rise. Invest in Gold Nowbefore prices start to rise again.
Buy gold now before the price rises.
Use a reputable gold company
When it comes to investing in gold, you have a few options when it comes to where to buy it. There are plenty of online and brick-and-mortar dealers, including Walmart and Costco If you want to buy it from a big box store. Gold is also often sold on eBay, Facebook Marketplace, and other online listing websites.
But if you want the best price and you really want to get the quality of gold that you pay for, Reputable dealerDealers such as American Hartford Gold, GoldCo Precious Metals and Rosland Capital not only have extensive experience in the gold investment industry, but they may also be able to offer lower prices than other smaller or less reputable dealers.
Consider second-hand gold products
Many gold dealers will buy back merchandise they have sold to their customers, and when they do, they usually sell the used items at a discount compared to newly minted bars or coins. However, it’s important to note that the value per ounce of gold doesn’t change depending on the age, mint, or style of the coin or bar you buy.
Therefore, by buying second-hand gold products you can get them cheaper than buying new without the value of the item you are buying decreasing.
But if you buy second-hand from a reputable gold dealer, you might not be able to choose the style of item you buy. For example, JM Bullion gives you access to discounted gold bars this way. But then you’ll be buying items marked “Various Conditions, All Mints.” That means: Buying Gold Instead of choosing a design or mint, you choose by the ounce.
Conclusion
It may be wise to add gold to your investment portfolio now, and you may be able to do so at a discount. To reduce the cost of investing in gold, follow the tips above. Invest in gold now before the price rises.
