It is easy to find out how and why the rich are getting richer, but remember that none of the large and experienced investors started at the top, they all started from scratch, just like you. Certainly in their way up to the top they have faced highs and lows, their triumphs have made them humble, and their defeats have made them stronger. In the case of being a beginner and interested in investing in gold, here I will leave great tips that will help you achieve your the desired success.
Learn why to invest in gold
There are people who are investing in precious metals to protect their possessions against inflation, there are others that are investing due to high demand for gold coupled with good profits provided by this type of investment. As an investor, you should consider how much money and time you are willing to invest. If you do not invest much time your will have to double your efforts in order to achieve your objectives.
Understand the different ways to invest in Gold
When you invest in gold, you can do so directly or indirectly. Directly means buying coins and/or bars, and indirectly means that you buy a certification or Gold Funds transactions, being the value of the last ones directly linked to the value of gold.
Beginners are advised to invest in coins and/or gold bars since these are easier to acquire and provide a minimum investment risk. When you buy coins and/or bars, these are sent to you by mail or you can take physical possession by visiting your trusted bullion dealer. In the case of buying large quantities, it is best to acquire bars rather than coins, because they are cheaper once you are purchasing in large amounts. The downside of that is they are heavier to carry.
Buy gold when you need it
Unlike stocks, when investing in gold, it is not necessary to wait for the right moment. Buy Gold whenever you need it. Gold as an investment varies from investor to investor, and is not something that is dependent on the economy. It is dependent only upon the general state of the finances of investors. Another good suggestion is to buy when the price is low, like now (about US$1600), for example.
Avoid "Gold Futures"
There will be many people trying to convince you to invest in "Gold Futures", however if you are a beginner the best is not to go toward this direction because might have unexpected returns (good or bad). Leave this type of investment for the more experienced investors.
Monitor closely the prices of Gold in the World Market
If an investor wants to be seriously in gold, it is good to be well familiar with the prices in the World Market. Start your investment when the price dropped 10% to 12%. Currently the price of gold is US$35 higher than the beginning of the year. Never buy gold when prices are high, wait for the drops, as it always does, even though it is in up-trend for more than 11 years.
Find a trusted bullion dealer in your area
Start with the right foot and invest in well known and trusted companies. As a beginner, you should seek professional companies that can help you avoid undesirable situations causing you to save time and money. More than that, a mediator or quality company will help you making the best decisions when you are selecting a package of investment in gold. But remember to always do a search on the mediator or company before deciding to trust them.
Article Source: http://www.articlesbase.com/investing-articles/investing-in-gold-tips-for-beginners-5972537.html
About the Author
New Zealand's independent gold and silver bullion merchants for wise investors. Buying gold and silver bullion is easy with MyGold.
Based in Central Auckland, MyGold can arrange same-day deliveries. Our friendly, professional and expert Gold/Silver team provides confidentiality and discretion in every transaction.
Visit http://www.mygold.co.nz and get our New Investor's Guide for FREE.
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