Buying gold has always been a popular option for people wanting to store their wealth. Gold has a history of doing well over time. That’s why it’s no surprise that one in six Americans had recently purchased gold.
But gold investing isn’t easy if you’ve never done it before. You have several options available today, so picking the right one takes some research on your part.
If you’re ready to invest in precious metals, you’ll need to find the right gold dealers near me to use. Read the gold investing guide below to learn your options.
Physical Gold
If you don’t mind storing expensive items in your home, physical gold is a great way to invest in gold. You can buy gold products at local stores or a precious metals dealer online.
There are a few common forms of physical gold to buy:
- Bullion
- Coins
- Jewelry
Be sure the dealer you buy from has a good reputation and is honest with customers. Look for reviews for the best place to buy gold to see what dealers other gold buyers trust.
Gold ETF
A gold ETF is similar to an ETF you buy on the stock market. However, instead of tracking part of the stock market, it tracks the price of gold.
The good thing about gold ETFs is that they usually own the physical gold they track. This means the funds stay stable over time.
This will help you gain exposure to the price of gold fluctuations over time. The expense ratio of these funds is normally small enough to make it worth not having to deal with physical gold yourself.
Gold Futures
If you’re into speculative investing, gold futures are a great option. A future is an agreement to buy an asset on a specific date.
This is an excellent option if you expect the price of gold to shift a certain way. You sign a contract with a futures company and have your future called when the date hits.
If the price you paid for the future is less than the price of gold when you buy, then you just made money. You can hold onto the gold you purchased or sell for a profit.
Gold Mining Stocks
If you don’t want to invest directly in gold, buying stocks from companies that mine gold directly is your next best option. Several mining companies are on the stock market, so you can sign up for a trading account and buy the stocks directly.
But you need to remember that these stocks won’t directly follow the price of gold. They also rely on the performance of the mining companies. You’ll need to learn more about these companies to determine if they are well-run and have a chance to grow in value.
Gold Dealers Near Me: Find the Perfect Seller Today
Investing in gold isn’t hard to do. You pick what type of gold you want, find a reputable dealer, and make the purchase. But with all the options available, you may not know which provider to trust.
However, you should now have the information you need to find gold dealers near me to start investing. Start your search today and find a company to meet your gold investing needs.
Did you find the gold investing advice above helpful and want to read more financial tips? Head back to the blog to find what you need.