Why Is Gold A Good Investment?
Over $7.6 trillion worth of gold is circulated and deposited in the United States alone. Most of this gold produced in gold bars are 99% to 99.5% pure gold, close to 24 karat gold which is the purest form at 99.9% or more. This makes gold an credible investment.
Why should I invest in gold?
One of the great things about gold is that it preserves its wealth, unlike the U.S. dollar. The value of a dollar gets eroded from inflation, but the value of gold increases with the economy. For example, buying a $35 piece of gold in the 1970s is worth much more now, while $35 of U.S. currency then is still just $35 now and can buy you much less than what it could have in the 1970s.
What are my investment options when it comes to gold?
There are many ways that investors can use to purchase gold. They include:
- Gold Futures
- Gold Coins
- Gold Companies
- Gold Exchange-Traded Funds (ETFs)
- Gold Mutual Funds
- Gold Bullion
- Gold Jewelry
If I invest in physical gold, how can I store it?
Once you have invested in some gold, you will want to find some precious metal storage. There are a few different options for storing you gold such as:
- Secretive storage. Hide your gold in a secret spot in your home, like a hollow book.
- Safes. Buy a safe with a lock or code to ensure only you can get in to retrieve your gold.
- Banks. Using a safety deposit box or a bank vault will secure your gold in a safe spot.
- Precious-metal depositories. A climate controlled environment with a high level of security for optimal precious metal storage.
Gold can be a smart investment because it preserves its wealth throughout the decades. There are many different investment options for gold which is convenient for different types of investors. Investing in gold now can make you money in the future.