Suspecting commodity markets as dangerous places driven by professional investors and fierce fund managers, most ordinary people assume that the prices of gold and other precious metal values have little to do with them. Although no one would advise you to enter the gold market without more than a little training and practice, even the average hard-working person should keep track of gold prices, looking for ways to capitalize on today's record values. In November 2009, gold reached its highest price in history, and experts predict that gold prices will continue to rise as the world's largest economies continue to struggle.
The following are five ways to capitalize on rising gold prices.
If you have control over investments in your tax protected annuity or individual retirement account, move your assets to mutual funds linked to the precious metals trade, because gold prices have temporarily fallen, but they promise to rise again and then keep their value indefinitely. Furthermore, recent history supports their decision to buy and hold precious metal mutual funds, because the price of gold has tripled in just a few munten verkopen.
If you have old or damaged gold jewelry that collects dust in your jewelry box, sell it to a gold refinery for cash. You have probably seen television commercials and advertisements on the Internet that promise a lot of money for your antique jewelry. Although the ads may slightly overstate values and security, they are fundamentally legitimate - you will receive considerable compensation for your antique gold jewelry. You will get a substantial reward for silver, and you will get more for platinum.
If you need fast cash and are limited by assets and credit, similarly consider pawning or selling your old gold. While you must accept the fact that wholesale gold prices and retail jewelry prices differ radically, you can still get the cash you need without paying high interest on credit card advances or business day loans. payment.
If you plan to buy jewelry as a gift, first, expect to pay more than you have in the past; in fact, expect to pay considerably more for high-end gold pieces. But buy the best jewelry you can afford, treating them as an investment and hoping they will become a family inheritance. High-quality gold and gemstones will always stand out as your best protection against inflation and economic uncertainty, what professional investors call "good hedging." The general rule for engagement rings has always been "the equivalent of three months' salary." Plan to spend at least as much, and plan to buy eighteen-karat gold instead of less expensive and therefore less valuable fourteen-carat jewelry. Similarly, if you can stretch to include rubies and sapphires in your jewelry, invest.
If you have the money to invest long-term, work with a trusted product broker to secure gold. Although you should never invest all of your money in a single instrument or product, radically diversifying, you should keep some precious metals in your portfolio. Investments in precious metals protect you against large fluctuations in other markets; and typically gold prices rise when other markets fall, because the demand for gold increases in recessions of the business cycle. So check gold prices today and see if gold is a good investment for you.
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