In the current climate buying gold to make solid profits in the future is a game of ensuring your buy at the right time. If you make sure you are buying gold at the right time you will definitely see a return on your investment, but if you buy gold at the wrong time you might see its value drop before we begin to make any sort of profit on the gold that you have bought. That means it is really important that you have the best information on buying gold, as choosing the right moment could land you with massive profits in the future, and ensure that you have a better way of saving than the interest that is offered on savings accounts in the present market.
How to buy gold and the little additions
To buy gold you first need to find the right place to buy from, how to buy gold, and also the added extras that will be put on top. When you buy gold bullion you will notice that there is a spot price on gold. This is the price you see on TV or on the Internet, and is the basic price for gold during that day. Added on top of this when you buy gold is something called the ‘premium over spot’, which is added by the dealer you buy gold from. This premium can range from 0.1% to 10% depending on how much gold bullion you decide to buy. Make sure you remember this when you go to buy gold as you may end up spending more money than you intended.
Buying gold is not a dollar only market!
When you buy gold, you must also remember that although gold prices are usually quoted in dollars, dealers in the UK will sell and buy gold in sterling. Therefore it is a good idea to have a broad idea of exchange rates before you commit to buy gold bullion, as again you may end up spending more than you expected.
If you have the finances, buy gold bullion
When buying gold in small amounts, it is probably best to buy gold coins, rather than the bars that we are used to seeing the movies! If you are intending to buy in excess of £50,000 worth of gold then bars may make more sense, but remember that selling gold in small amounts is far easier with coins than it is with a big bar. When you have settled on how you will buy gold, it is just as important to choose the best place to buy it.
So where to buy gold? The important bit.
Where to buy gold is really important, and you should only trust a reputable dealer. GoldDirect is extremely reliable, as is BullionVault, and both companies will ensure that you get the best deal and for the best price. In fact with BullionVault you will get a free gram of gold when you sign up! Buying from these companies will ensure that you buy gold, and it makes where to buy gold an easy conundrum, BullionVault is so easy to use that managing your gold stocks has never been easier.