MagpieRSS Object ( [parser] => 0 [current_item] => Array ( ) [items] => Array ( [0] => Array ( [title] => 4 Methods To Detect If Gold Is Authentic Step By Step [link] => https://ira-gold.best/4-methods-to-detect-if-gold-is-authentic-step-by-step/ [dc] => Array ( [creator] => Sandra Chagnon ) [pubdate] => Fri, 18 Nov 2022 07:44:44 +0000 [category] => Gold Testing Methods [guid] => https://ira-gold.best/?p=21 [description] =>…
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) [1] => Array ( [title] => 5 Factors That Can Influence The Price Of Gold [link] => https://ira-gold.best/5-factors-that-can-influence-the-price-of-gold/ [dc] => Array ( [creator] => Sandra Chagnon ) [pubdate] => Thu, 17 Nov 2022 07:43:56 +0000 [category] => Affecting Gold Prices [guid] => https://ira-gold.best/?p=17 [description] =>
Gold is a haven asset par excellence, so the evolution of its price is an indication of the global situation of the economy. Gold also has a significant correlation with some currencies (US dollar, euro, yen, etc.), so monitoring the evolution of its price allows for obtaining precise information on different markets.
Generally, gold is quoted in the North American currency, and the reference unit is the ounce of gold (troy gold ounce), which is equivalent to 28.35 grams, and its price is referenced in dollars/ounce. Even moderately, gold is always subject to fluctuations due to certain factors. Here we mention the most relevant:
Supply And Demand
Like other markets, gold is also subject to the law of supply and demand. There are two elements that influence this aspect: the volume of production at the time and the interest of investors or buyers of the metal. If there is limited supply and increased investor interest, the price will go up. On the other hand, if the supply is wide and there is less investor interest, then the price will go down.
Gold And The Strength Of The Dollar
The ounce of gold is quoted against the US dollar, so the relationship between the dollar and gold remains decisive and inversely proportional. That is, the stronger the US dollar, the lower the price of gold, on the other hand, if the currency depreciates, the price of gold can rise.
Industrial Applications Of Gold
Gold currently has the advantage that it has different industrial applications, an example of this is technological devices, which have some gold components. The exponential increase of these manufacturers is reflected in a greater demand for the metal, which causes its price to increase.
The Price Of Gold And Interest Rates
The interest rate in the stock market influences the price of gold bullion, although it is not a direct relationship (since gold is oblivious to interest rate), if the rate increases, investors look for liquidity and they sell the gold to look for other investments that provide them with short-term returns. On the other hand, if the interest rate falls, gold offers fewer investment costs and the interest on it will increase, which will cause its price to increase as well.
The Jewelry Industry
When the jewelry sector is booming, the demand for gold increases, which will cause its price to increase as well. This mainly occurs because gold is one of the most used and valued metals in that category. An example of this can be the popularity of a specific jewel (for example the jewel called “the face of Jesus” that became popular in some artistic sectors).…
The post 5 Factors That Can Influence The Price Of Gold appeared first on .
[content] => Array ( [encoded] =>
Gold is a haven asset par excellence, so the evolution of its price is an indication of the global situation of the economy. Gold also has a significant correlation with some currencies (US dollar, euro, yen, etc.), so monitoring the evolution of its price allows for obtaining precise information on different markets.
Generally, gold is quoted in the North American currency, and the reference unit is the ounce of gold (troy gold ounce), which is equivalent to 28.35 grams, and its price is referenced in dollars/ounce. Even moderately, gold is always subject to fluctuations due to certain factors. Here we mention the most relevant:
Supply And Demand
Like other markets, gold is also subject to the law of supply and demand. There are two elements that influence this aspect: the volume of production at the time and the interest of investors or buyers of the metal. If there is limited supply and increased investor interest, the price will go up. On the other hand, if the supply is wide and there is less investor interest, then the price will go down.
Gold And The Strength Of The Dollar
The ounce of gold is quoted against the US dollar, so the relationship between the dollar and gold remains decisive and inversely proportional. That is, the stronger the US dollar, the lower the price of gold, on the other hand, if the currency depreciates, the price of gold can rise.
Industrial Applications Of Gold
Gold currently has the advantage that it has different industrial applications, an example of this is technological devices, which have some gold components. The exponential increase of these manufacturers is reflected in a greater demand for the metal, which causes its price to increase.
The Price Of Gold And Interest Rates
The interest rate in the stock market influences the price of gold bullion, although it is not a direct relationship (since gold is oblivious to interest rate), if the rate increases, investors look for liquidity and they sell the gold to look for other investments that provide them with short-term returns. On the other hand, if the interest rate falls, gold offers fewer investment costs and the interest on it will increase, which will cause its price to increase as well.
The Jewelry Industry
When the jewelry sector is booming, the demand for gold increases, which will cause its price to increase as well. This mainly occurs because gold is one of the most used and valued metals in that category. An example of this can be the popularity of a specific jewel (for example the jewel called “the face of Jesus” that became popular in some artistic sectors).…
The post 5 Factors That Can Influence The Price Of Gold appeared first on .
) [summary] =>
Gold is a haven asset par excellence, so the evolution of its price is an indication of the global situation of the economy. Gold also has a significant correlation with some currencies (US dollar, euro, yen, etc.), so monitoring the evolution of its price allows for obtaining precise information on different markets.
Generally, gold is quoted in the North American currency, and the reference unit is the ounce of gold (troy gold ounce), which is equivalent to 28.35 grams, and its price is referenced in dollars/ounce. Even moderately, gold is always subject to fluctuations due to certain factors. Here we mention the most relevant:
Supply And Demand
Like other markets, gold is also subject to the law of supply and demand. There are two elements that influence this aspect: the volume of production at the time and the interest of investors or buyers of the metal. If there is limited supply and increased investor interest, the price will go up. On the other hand, if the supply is wide and there is less investor interest, then the price will go down.
Gold And The Strength Of The Dollar
The ounce of gold is quoted against the US dollar, so the relationship between the dollar and gold remains decisive and inversely proportional. That is, the stronger the US dollar, the lower the price of gold, on the other hand, if the currency depreciates, the price of gold can rise.
Industrial Applications Of Gold
Gold currently has the advantage that it has different industrial applications, an example of this is technological devices, which have some gold components. The exponential increase of these manufacturers is reflected in a greater demand for the metal, which causes its price to increase.
The Price Of Gold And Interest Rates
The interest rate in the stock market influences the price of gold bullion, although it is not a direct relationship (since gold is oblivious to interest rate), if the rate increases, investors look for liquidity and they sell the gold to look for other investments that provide them with short-term returns. On the other hand, if the interest rate falls, gold offers fewer investment costs and the interest on it will increase, which will cause its price to increase as well.
The Jewelry Industry
When the jewelry sector is booming, the demand for gold increases, which will cause its price to increase as well. This mainly occurs because gold is one of the most used and valued metals in that category. An example of this can be the popularity of a specific jewel (for example the jewel called “the face of Jesus” that became popular in some artistic sectors).…
The post 5 Factors That Can Influence The Price Of Gold appeared first on .
[atom_content] =>
Gold is a haven asset par excellence, so the evolution of its price is an indication of the global situation of the economy. Gold also has a significant correlation with some currencies (US dollar, euro, yen, etc.), so monitoring the evolution of its price allows for obtaining precise information on different markets.
Generally, gold is quoted in the North American currency, and the reference unit is the ounce of gold (troy gold ounce), which is equivalent to 28.35 grams, and its price is referenced in dollars/ounce. Even moderately, gold is always subject to fluctuations due to certain factors. Here we mention the most relevant:
Supply And Demand
Like other markets, gold is also subject to the law of supply and demand. There are two elements that influence this aspect: the volume of production at the time and the interest of investors or buyers of the metal. If there is limited supply and increased investor interest, the price will go up. On the other hand, if the supply is wide and there is less investor interest, then the price will go down.
Gold And The Strength Of The Dollar
The ounce of gold is quoted against the US dollar, so the relationship between the dollar and gold remains decisive and inversely proportional. That is, the stronger the US dollar, the lower the price of gold, on the other hand, if the currency depreciates, the price of gold can rise.
Industrial Applications Of Gold
Gold currently has the advantage that it has different industrial applications, an example of this is technological devices, which have some gold components. The exponential increase of these manufacturers is reflected in a greater demand for the metal, which causes its price to increase.
The Price Of Gold And Interest Rates
The interest rate in the stock market influences the price of gold bullion, although it is not a direct relationship (since gold is oblivious to interest rate), if the rate increases, investors look for liquidity and they sell the gold to look for other investments that provide them with short-term returns. On the other hand, if the interest rate falls, gold offers fewer investment costs and the interest on it will increase, which will cause its price to increase as well.
The Jewelry Industry
When the jewelry sector is booming, the demand for gold increases, which will cause its price to increase as well. This mainly occurs because gold is one of the most used and valued metals in that category. An example of this can be the popularity of a specific jewel (for example the jewel called “the face of Jesus” that became popular in some artistic sectors).…
The post 5 Factors That Can Influence The Price Of Gold appeared first on .
) [2] => Array ( [title] => Gold Prospects For Mid-Year 2022 According To The World Gold Council [link] => https://ira-gold.best/gold-prospects-for-mid-year-2022-according-to-the-world-gold-council/ [dc] => Array ( [creator] => Sandra Chagnon ) [pubdate] => Wed, 16 Nov 2022 07:43:25 +0000 [category] => World Gold Council [guid] => https://ira-gold.best/?p=18 [description] =>
According to some analysts at the World Gold Council, the precious metal remains one of the most profitable “active” metals so far in 2022, especially for investors outside the United States, which use currencies other than the US dollar. Next, we will know some reasons and also the perspectives of the behavior of this market for the middle of the current year 2022.
Gold Was Supported By Higher Risk
Real rates and the dollar alone suggest that gold would have been lower in the first half of the year. Investors face a challenging environment in what corresponds to the second semester of this year 2022, in which they will have to overcome the increase in interest rates and the resurgence of risks due to political conflicts and high inflation. So when it comes to investing in gold in the short term, it is likely that it will continue to be reactive to real rates, which is driven by the speed at which the World Central Bank adjusts monetary policy in each country, in an effort to control inflation.
Although the appreciation of the US currency against other currencies is considered an obstacle to the price of gold (if it is measured by the dollar), at the same time it has supported the performance of gold with respect to other currencies, which counts the yen, the euro and the pound sterling among others
Gold Has Held Up Well Through Mid-2022
By the end of June 2022, the short-term model is expected to be maintained, which is a multiple regression model of monthly returns on the price of gold, which can be grouped into four thematic categories that are key to the performance of this precious metal: market risk, economic expansion, opportunity cost, and momentum.
These four categories capture the motives behind the demand for gold, especially when it comes to investment demand that may be the marginal driver of near-term gold price performance. Investors will face significant challenges in the remainder of 2022 and as such will need to balance various competitive risks aggravated by considerable uncertainty over monetary policy, which will increase gold price volatility.
What Investors Expect In The Future
It is good to note that most of the market participants expect significant increases in the monetary policy rate, there are analysts who argue that central banks may not tighten monetary policy as expected. The reasons could be economic slowdowns that can result in contractions, although in some cases, it is also due to a change in supply restrictions in non-commodity consumer sectors.…
The post Gold Prospects For Mid-Year 2022 According To The World Gold Council appeared first on .
[content] => Array ( [encoded] =>
According to some analysts at the World Gold Council, the precious metal remains one of the most profitable “active” metals so far in 2022, especially for investors outside the United States, which use currencies other than the US dollar. Next, we will know some reasons and also the perspectives of the behavior of this market for the middle of the current year 2022.
Gold Was Supported By Higher Risk
Real rates and the dollar alone suggest that gold would have been lower in the first half of the year. Investors face a challenging environment in what corresponds to the second semester of this year 2022, in which they will have to overcome the increase in interest rates and the resurgence of risks due to political conflicts and high inflation. So when it comes to investing in gold in the short term, it is likely that it will continue to be reactive to real rates, which is driven by the speed at which the World Central Bank adjusts monetary policy in each country, in an effort to control inflation.
Although the appreciation of the US currency against other currencies is considered an obstacle to the price of gold (if it is measured by the dollar), at the same time it has supported the performance of gold with respect to other currencies, which counts the yen, the euro and the pound sterling among others
Gold Has Held Up Well Through Mid-2022
By the end of June 2022, the short-term model is expected to be maintained, which is a multiple regression model of monthly returns on the price of gold, which can be grouped into four thematic categories that are key to the performance of this precious metal: market risk, economic expansion, opportunity cost, and momentum.
These four categories capture the motives behind the demand for gold, especially when it comes to investment demand that may be the marginal driver of near-term gold price performance. Investors will face significant challenges in the remainder of 2022 and as such will need to balance various competitive risks aggravated by considerable uncertainty over monetary policy, which will increase gold price volatility.
What Investors Expect In The Future
It is good to note that most of the market participants expect significant increases in the monetary policy rate, there are analysts who argue that central banks may not tighten monetary policy as expected. The reasons could be economic slowdowns that can result in contractions, although in some cases, it is also due to a change in supply restrictions in non-commodity consumer sectors.…
The post Gold Prospects For Mid-Year 2022 According To The World Gold Council appeared first on .
) [summary] =>
According to some analysts at the World Gold Council, the precious metal remains one of the most profitable “active” metals so far in 2022, especially for investors outside the United States, which use currencies other than the US dollar. Next, we will know some reasons and also the perspectives of the behavior of this market for the middle of the current year 2022.
Gold Was Supported By Higher Risk
Real rates and the dollar alone suggest that gold would have been lower in the first half of the year. Investors face a challenging environment in what corresponds to the second semester of this year 2022, in which they will have to overcome the increase in interest rates and the resurgence of risks due to political conflicts and high inflation. So when it comes to investing in gold in the short term, it is likely that it will continue to be reactive to real rates, which is driven by the speed at which the World Central Bank adjusts monetary policy in each country, in an effort to control inflation.
Although the appreciation of the US currency against other currencies is considered an obstacle to the price of gold (if it is measured by the dollar), at the same time it has supported the performance of gold with respect to other currencies, which counts the yen, the euro and the pound sterling among others
Gold Has Held Up Well Through Mid-2022
By the end of June 2022, the short-term model is expected to be maintained, which is a multiple regression model of monthly returns on the price of gold, which can be grouped into four thematic categories that are key to the performance of this precious metal: market risk, economic expansion, opportunity cost, and momentum.
These four categories capture the motives behind the demand for gold, especially when it comes to investment demand that may be the marginal driver of near-term gold price performance. Investors will face significant challenges in the remainder of 2022 and as such will need to balance various competitive risks aggravated by considerable uncertainty over monetary policy, which will increase gold price volatility.
What Investors Expect In The Future
It is good to note that most of the market participants expect significant increases in the monetary policy rate, there are analysts who argue that central banks may not tighten monetary policy as expected. The reasons could be economic slowdowns that can result in contractions, although in some cases, it is also due to a change in supply restrictions in non-commodity consumer sectors.…
The post Gold Prospects For Mid-Year 2022 According To The World Gold Council appeared first on .
[atom_content] =>
According to some analysts at the World Gold Council, the precious metal remains one of the most profitable “active” metals so far in 2022, especially for investors outside the United States, which use currencies other than the US dollar. Next, we will know some reasons and also the perspectives of the behavior of this market for the middle of the current year 2022.
Gold Was Supported By Higher Risk
Real rates and the dollar alone suggest that gold would have been lower in the first half of the year. Investors face a challenging environment in what corresponds to the second semester of this year 2022, in which they will have to overcome the increase in interest rates and the resurgence of risks due to political conflicts and high inflation. So when it comes to investing in gold in the short term, it is likely that it will continue to be reactive to real rates, which is driven by the speed at which the World Central Bank adjusts monetary policy in each country, in an effort to control inflation.
Although the appreciation of the US currency against other currencies is considered an obstacle to the price of gold (if it is measured by the dollar), at the same time it has supported the performance of gold with respect to other currencies, which counts the yen, the euro and the pound sterling among others
Gold Has Held Up Well Through Mid-2022
By the end of June 2022, the short-term model is expected to be maintained, which is a multiple regression model of monthly returns on the price of gold, which can be grouped into four thematic categories that are key to the performance of this precious metal: market risk, economic expansion, opportunity cost, and momentum.
These four categories capture the motives behind the demand for gold, especially when it comes to investment demand that may be the marginal driver of near-term gold price performance. Investors will face significant challenges in the remainder of 2022 and as such will need to balance various competitive risks aggravated by considerable uncertainty over monetary policy, which will increase gold price volatility.
What Investors Expect In The Future
It is good to note that most of the market participants expect significant increases in the monetary policy rate, there are analysts who argue that central banks may not tighten monetary policy as expected. The reasons could be economic slowdowns that can result in contractions, although in some cases, it is also due to a change in supply restrictions in non-commodity consumer sectors.…
The post Gold Prospects For Mid-Year 2022 According To The World Gold Council appeared first on .
) [3] => Array ( [title] => Tips To Avoid Falling For Scams When Buying Gold [link] => https://ira-gold.best/tips-to-avoid-falling-for-scams-when-buying-gold/ [dc] => Array ( [creator] => Sandra Chagnon ) [pubdate] => Tue, 15 Nov 2022 07:33:19 +0000 [category] => Avoid Gold Scams [guid] => https://ira-gold.best/?p=19 [description] =>
While sales over the Internet have increased in recent years, this has also meant an increase in online scams and hoaxes. Gold has not been able to escape this situation, as the high demand for this precious metal has also caused an increase in the number of websites that offer gold, however, some of these websites are dedicated to selling fake gold.
Gold-related scams not only cover the online sphere but are also present in the physical or face-to-face market since the sale of fake gold can take various forms.
An example of this was what happened in 2012, when a gold bullion fraud was discovered, which were fake 10-ounce bars at a lower price than the market. The ingot inside had tungsten, which is a metal with weight and density similar to gold. These fake ingots fooled (in their time) several experts.
Currently, there are institutions that are dedicated to monitoring people and organizations that carry out scams in the sale of fake gold, and at the same time, they are warning investors and buyers of possible fraud in the marketing of physical gold. For this reason, in this article, we mention some tips to avoid making mistakes when buying gold and avoid scams.
Ask For An Expert Opinion
Although the authenticity of gold can be verified through quality seals and tests, when you are going to buy gold in large quantities, it is best to seek the opinion of an expert before carrying out the operation, usually, scammers tend to evade the questions from the expert or put up obstacles to carry out face-to-face reviews.
Use As A Reference Company Registered In The LBMA
The gold seller, whether it is a person, company, or company, must market gold pieces that are accredited by the LBMA (London Bullion Market Association) since in this way it is guaranteed that the gold comes from legal activities and that it has been extracted from a responsible way. This entity is very relevant, especially in companies that carry out metal castings. If the pieces of gold that are sold are not accredited, it could be a company that does not sell gold of good quality or of dubious origin.
Be Certified As Good Delivery
This certificate means that the piece of gold complies with a set of rules issued by the LBMA, which describe the physical characteristics of the gold bars used in the wholesale market, and the specific characteristics of gold quality, in addition to guaranteeing that the gold has been obtained in a sustainable and responsible way.
Always Work With A Recognized Company
It is advisable to buy gold from a store or company that has some recognition and a good reputation in the gold trade. A point in favor is that the company has a physical establishment where the client can verify the product that he is going to buy. Generally, official stores comply with a series of regulations and permits, in addition to delivering invoices or proof of payment, which benefits the buyer in various aspects such as: proving ownership of the gold piece, tax declaration, traveling with gold, guarantee against any eventuality or problem, etc.
Avoid Pyramid Schemes
Many scammers tend to use gold to promote different pyramid schemes, in this case, the best way to spot a pyramid scheme (related to gold) is to see if the “opportunity” meets some of these criteria:
Watch Out For Special Offers
If the client sees a price below the market (for example a special offer) they should be very careful and suspicious, since it is unlikely that a “serious” gold seller or dealer will make offers or special prices, since generally, the Gold has internationally established prices. In this case, the only pieces of gold that are outside this parameter are antiques and collectibles, since their value is determined by other factors in addition to the value of gold.…
The post Tips To Avoid Falling For Scams When Buying Gold appeared first on .
[content] => Array ( [encoded] =>While sales over the Internet have increased in recent years, this has also meant an increase in online scams and hoaxes. Gold has not been able to escape this situation, as the high demand for this precious metal has also caused an increase in the number of websites that offer gold, however, some of these websites are dedicated to selling fake gold.
Gold-related scams not only cover the online sphere but are also present in the physical or face-to-face market since the sale of fake gold can take various forms.
An example of this was what happened in 2012, when a gold bullion fraud was discovered, which were fake 10-ounce bars at a lower price than the market. The ingot inside had tungsten, which is a metal with weight and density similar to gold. These fake ingots fooled (in their time) several experts.
Currently, there are institutions that are dedicated to monitoring people and organizations that carry out scams in the sale of fake gold, and at the same time, they are warning investors and buyers of possible fraud in the marketing of physical gold. For this reason, in this article, we mention some tips to avoid making mistakes when buying gold and avoid scams.
Ask For An Expert Opinion
Although the authenticity of gold can be verified through quality seals and tests, when you are going to buy gold in large quantities, it is best to seek the opinion of an expert before carrying out the operation, usually, scammers tend to evade the questions from the expert or put up obstacles to carry out face-to-face reviews.
Use As A Reference Company Registered In The LBMA
The gold seller, whether it is a person, company, or company, must market gold pieces that are accredited by the LBMA (London Bullion Market Association) since in this way it is guaranteed that the gold comes from legal activities and that it has been extracted from a responsible way. This entity is very relevant, especially in companies that carry out metal castings. If the pieces of gold that are sold are not accredited, it could be a company that does not sell gold of good quality or of dubious origin.
Be Certified As Good Delivery
This certificate means that the piece of gold complies with a set of rules issued by the LBMA, which describe the physical characteristics of the gold bars used in the wholesale market, and the specific characteristics of gold quality, in addition to guaranteeing that the gold has been obtained in a sustainable and responsible way.
Always Work With A Recognized Company
It is advisable to buy gold from a store or company that has some recognition and a good reputation in the gold trade. A point in favor is that the company has a physical establishment where the client can verify the product that he is going to buy. Generally, official stores comply with a series of regulations and permits, in addition to delivering invoices or proof of payment, which benefits the buyer in various aspects such as: proving ownership of the gold piece, tax declaration, traveling with gold, guarantee against any eventuality or problem, etc.
Avoid Pyramid Schemes
Many scammers tend to use gold to promote different pyramid schemes, in this case, the best way to spot a pyramid scheme (related to gold) is to see if the “opportunity” meets some of these criteria:
Watch Out For Special Offers
If the client sees a price below the market (for example a special offer) they should be very careful and suspicious, since it is unlikely that a “serious” gold seller or dealer will make offers or special prices, since generally, the Gold has internationally established prices. In this case, the only pieces of gold that are outside this parameter are antiques and collectibles, since their value is determined by other factors in addition to the value of gold.…
The post Tips To Avoid Falling For Scams When Buying Gold appeared first on .
) [summary] =>While sales over the Internet have increased in recent years, this has also meant an increase in online scams and hoaxes. Gold has not been able to escape this situation, as the high demand for this precious metal has also caused an increase in the number of websites that offer gold, however, some of these websites are dedicated to selling fake gold.
Gold-related scams not only cover the online sphere but are also present in the physical or face-to-face market since the sale of fake gold can take various forms.
An example of this was what happened in 2012, when a gold bullion fraud was discovered, which were fake 10-ounce bars at a lower price than the market. The ingot inside had tungsten, which is a metal with weight and density similar to gold. These fake ingots fooled (in their time) several experts.
Currently, there are institutions that are dedicated to monitoring people and organizations that carry out scams in the sale of fake gold, and at the same time, they are warning investors and buyers of possible fraud in the marketing of physical gold. For this reason, in this article, we mention some tips to avoid making mistakes when buying gold and avoid scams.
Ask For An Expert Opinion
Although the authenticity of gold can be verified through quality seals and tests, when you are going to buy gold in large quantities, it is best to seek the opinion of an expert before carrying out the operation, usually, scammers tend to evade the questions from the expert or put up obstacles to carry out face-to-face reviews.
Use As A Reference Company Registered In The LBMA
The gold seller, whether it is a person, company, or company, must market gold pieces that are accredited by the LBMA (London Bullion Market Association) since in this way it is guaranteed that the gold comes from legal activities and that it has been extracted from a responsible way. This entity is very relevant, especially in companies that carry out metal castings. If the pieces of gold that are sold are not accredited, it could be a company that does not sell gold of good quality or of dubious origin.
Be Certified As Good Delivery
This certificate means that the piece of gold complies with a set of rules issued by the LBMA, which describe the physical characteristics of the gold bars used in the wholesale market, and the specific characteristics of gold quality, in addition to guaranteeing that the gold has been obtained in a sustainable and responsible way.
Always Work With A Recognized Company
It is advisable to buy gold from a store or company that has some recognition and a good reputation in the gold trade. A point in favor is that the company has a physical establishment where the client can verify the product that he is going to buy. Generally, official stores comply with a series of regulations and permits, in addition to delivering invoices or proof of payment, which benefits the buyer in various aspects such as: proving ownership of the gold piece, tax declaration, traveling with gold, guarantee against any eventuality or problem, etc.
Avoid Pyramid Schemes
Many scammers tend to use gold to promote different pyramid schemes, in this case, the best way to spot a pyramid scheme (related to gold) is to see if the “opportunity” meets some of these criteria:
Watch Out For Special Offers
If the client sees a price below the market (for example a special offer) they should be very careful and suspicious, since it is unlikely that a “serious” gold seller or dealer will make offers or special prices, since generally, the Gold has internationally established prices. In this case, the only pieces of gold that are outside this parameter are antiques and collectibles, since their value is determined by other factors in addition to the value of gold.…
The post Tips To Avoid Falling For Scams When Buying Gold appeared first on .
[atom_content] =>While sales over the Internet have increased in recent years, this has also meant an increase in online scams and hoaxes. Gold has not been able to escape this situation, as the high demand for this precious metal has also caused an increase in the number of websites that offer gold, however, some of these websites are dedicated to selling fake gold.
Gold-related scams not only cover the online sphere but are also present in the physical or face-to-face market since the sale of fake gold can take various forms.
An example of this was what happened in 2012, when a gold bullion fraud was discovered, which were fake 10-ounce bars at a lower price than the market. The ingot inside had tungsten, which is a metal with weight and density similar to gold. These fake ingots fooled (in their time) several experts.
Currently, there are institutions that are dedicated to monitoring people and organizations that carry out scams in the sale of fake gold, and at the same time, they are warning investors and buyers of possible fraud in the marketing of physical gold. For this reason, in this article, we mention some tips to avoid making mistakes when buying gold and avoid scams.
Ask For An Expert Opinion
Although the authenticity of gold can be verified through quality seals and tests, when you are going to buy gold in large quantities, it is best to seek the opinion of an expert before carrying out the operation, usually, scammers tend to evade the questions from the expert or put up obstacles to carry out face-to-face reviews.
Use As A Reference Company Registered In The LBMA
The gold seller, whether it is a person, company, or company, must market gold pieces that are accredited by the LBMA (London Bullion Market Association) since in this way it is guaranteed that the gold comes from legal activities and that it has been extracted from a responsible way. This entity is very relevant, especially in companies that carry out metal castings. If the pieces of gold that are sold are not accredited, it could be a company that does not sell gold of good quality or of dubious origin.
Be Certified As Good Delivery
This certificate means that the piece of gold complies with a set of rules issued by the LBMA, which describe the physical characteristics of the gold bars used in the wholesale market, and the specific characteristics of gold quality, in addition to guaranteeing that the gold has been obtained in a sustainable and responsible way.
Always Work With A Recognized Company
It is advisable to buy gold from a store or company that has some recognition and a good reputation in the gold trade. A point in favor is that the company has a physical establishment where the client can verify the product that he is going to buy. Generally, official stores comply with a series of regulations and permits, in addition to delivering invoices or proof of payment, which benefits the buyer in various aspects such as: proving ownership of the gold piece, tax declaration, traveling with gold, guarantee against any eventuality or problem, etc.
Avoid Pyramid Schemes
Many scammers tend to use gold to promote different pyramid schemes, in this case, the best way to spot a pyramid scheme (related to gold) is to see if the “opportunity” meets some of these criteria:
Watch Out For Special Offers
If the client sees a price below the market (for example a special offer) they should be very careful and suspicious, since it is unlikely that a “serious” gold seller or dealer will make offers or special prices, since generally, the Gold has internationally established prices. In this case, the only pieces of gold that are outside this parameter are antiques and collectibles, since their value is determined by other factors in addition to the value of gold.…
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) [4] => Array ( [title] => Why Is It Not Recommended To Buy Gold Thinking In The Short Term? [link] => https://ira-gold.best/why-is-it-not-recommended-to-buy-gold-thinking-in-the-short-term/ [dc] => Array ( [creator] => Sandra Chagnon ) [pubdate] => Mon, 14 Nov 2022 07:35:53 +0000 [category] => Gold Investment [guid] => https://ira-gold.best/?p=20 [description] =>Gold has played an important role in the economy of many countries throughout human history. Gold was considered a universal currency for a long time, an example of this is its use in the Byzantine Empire more than 1,500 years ago, while today many countries use it as a world reserve asset.
Due to the popularity of gold on a global level, many people want to buy this precious metal, however, some people want to buy gold thinking only in the “short term”, however, this may not be convenient for some individuals.
Not Spending Money We Need
Many people make the mistake of spending money they need to pay for things in the short term like utilities, education, food, etc. There are also cases of people using money they need in the medium term, such as to pay annual insurance premiums, annual taxes, travel, annual tuition, etc. It is only recommended to spend money that we have saved and that is not part of our monthly budget, for example, it is recommended to first develop the habit of saving and only when we have an amount saved (destined for investments) then it is only recommended to buy gold.
Ease Of Sale Or Liquidity
Although gold can be sold anywhere in the world, the truth is that said sale is not “immediate” but, depending on its presentation and level of purity, it can take a while to be sold. Due to this, it should be taken into account that gold is a more specialized sale and that said sale tends to take longer than other financial instruments such as shares, currencies of other countries, etc.
Ability To Increase Its Value
Although gold has the ability to increase its value, this growth is not exponential but occurs slightly or gradually. It is important to remember that the main reason many investors buy gold is to protect their wealth, as gold tends to retain its value over time.
While the value of gold can go up or down, such changes are very slight or gradual. In case the price decreases, the underlying value of gold does not change much, this is because a fixed amount of gold is a highly valuable commodity, in addition to having many practical uses such as electronics, jewelry, medicine ( dentistry), the glass industry, the aerospace industry, etc., while in the case of other alternatives such as the US dollar (which is a fiat currency), its price tends to fluctuate more because it does not have an inherent value, but depends on the value that people or states assign to it (in addition to the monetary policies of each country).
Hedge Against Inflation
Gold increases in value when inflation takes hold. Because of this, many investors buy gold to protect their wealth from external factors such as local currency inflation, inappropriate monetary policies, or conflicts/wars. That is, during times of instability, gold presents itself as an effective “safe haven” asset.
It Does Not Generate Dividends
Another reason for not recommending the purchase of gold in the short term is that gold does not generate dividends or passive income (as other instruments such as shares, fixed terms or bonds do, which do generate dividends and interest). However, the only return that can be obtained from gold is when it increases in value and we decide to sell it
…
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[content] => Array ( [encoded] =>Gold has played an important role in the economy of many countries throughout human history. Gold was considered a universal currency for a long time, an example of this is its use in the Byzantine Empire more than 1,500 years ago, while today many countries use it as a world reserve asset.
Due to the popularity of gold on a global level, many people want to buy this precious metal, however, some people want to buy gold thinking only in the “short term”, however, this may not be convenient for some individuals.
Not Spending Money We Need
Many people make the mistake of spending money they need to pay for things in the short term like utilities, education, food, etc. There are also cases of people using money they need in the medium term, such as to pay annual insurance premiums, annual taxes, travel, annual tuition, etc. It is only recommended to spend money that we have saved and that is not part of our monthly budget, for example, it is recommended to first develop the habit of saving and only when we have an amount saved (destined for investments) then it is only recommended to buy gold.
Ease Of Sale Or Liquidity
Although gold can be sold anywhere in the world, the truth is that said sale is not “immediate” but, depending on its presentation and level of purity, it can take a while to be sold. Due to this, it should be taken into account that gold is a more specialized sale and that said sale tends to take longer than other financial instruments such as shares, currencies of other countries, etc.
Ability To Increase Its Value
Although gold has the ability to increase its value, this growth is not exponential but occurs slightly or gradually. It is important to remember that the main reason many investors buy gold is to protect their wealth, as gold tends to retain its value over time.
While the value of gold can go up or down, such changes are very slight or gradual. In case the price decreases, the underlying value of gold does not change much, this is because a fixed amount of gold is a highly valuable commodity, in addition to having many practical uses such as electronics, jewelry, medicine ( dentistry), the glass industry, the aerospace industry, etc., while in the case of other alternatives such as the US dollar (which is a fiat currency), its price tends to fluctuate more because it does not have an inherent value, but depends on the value that people or states assign to it (in addition to the monetary policies of each country).
Hedge Against Inflation
Gold increases in value when inflation takes hold. Because of this, many investors buy gold to protect their wealth from external factors such as local currency inflation, inappropriate monetary policies, or conflicts/wars. That is, during times of instability, gold presents itself as an effective “safe haven” asset.
It Does Not Generate Dividends
Another reason for not recommending the purchase of gold in the short term is that gold does not generate dividends or passive income (as other instruments such as shares, fixed terms or bonds do, which do generate dividends and interest). However, the only return that can be obtained from gold is when it increases in value and we decide to sell it
…
The post Why Is It Not Recommended To Buy Gold Thinking In The Short Term? appeared first on .
) [summary] =>Gold has played an important role in the economy of many countries throughout human history. Gold was considered a universal currency for a long time, an example of this is its use in the Byzantine Empire more than 1,500 years ago, while today many countries use it as a world reserve asset.
Due to the popularity of gold on a global level, many people want to buy this precious metal, however, some people want to buy gold thinking only in the “short term”, however, this may not be convenient for some individuals.
Not Spending Money We Need
Many people make the mistake of spending money they need to pay for things in the short term like utilities, education, food, etc. There are also cases of people using money they need in the medium term, such as to pay annual insurance premiums, annual taxes, travel, annual tuition, etc. It is only recommended to spend money that we have saved and that is not part of our monthly budget, for example, it is recommended to first develop the habit of saving and only when we have an amount saved (destined for investments) then it is only recommended to buy gold.
Ease Of Sale Or Liquidity
Although gold can be sold anywhere in the world, the truth is that said sale is not “immediate” but, depending on its presentation and level of purity, it can take a while to be sold. Due to this, it should be taken into account that gold is a more specialized sale and that said sale tends to take longer than other financial instruments such as shares, currencies of other countries, etc.
Ability To Increase Its Value
Although gold has the ability to increase its value, this growth is not exponential but occurs slightly or gradually. It is important to remember that the main reason many investors buy gold is to protect their wealth, as gold tends to retain its value over time.
While the value of gold can go up or down, such changes are very slight or gradual. In case the price decreases, the underlying value of gold does not change much, this is because a fixed amount of gold is a highly valuable commodity, in addition to having many practical uses such as electronics, jewelry, medicine ( dentistry), the glass industry, the aerospace industry, etc., while in the case of other alternatives such as the US dollar (which is a fiat currency), its price tends to fluctuate more because it does not have an inherent value, but depends on the value that people or states assign to it (in addition to the monetary policies of each country).
Hedge Against Inflation
Gold increases in value when inflation takes hold. Because of this, many investors buy gold to protect their wealth from external factors such as local currency inflation, inappropriate monetary policies, or conflicts/wars. That is, during times of instability, gold presents itself as an effective “safe haven” asset.
It Does Not Generate Dividends
Another reason for not recommending the purchase of gold in the short term is that gold does not generate dividends or passive income (as other instruments such as shares, fixed terms or bonds do, which do generate dividends and interest). However, the only return that can be obtained from gold is when it increases in value and we decide to sell it
…
The post Why Is It Not Recommended To Buy Gold Thinking In The Short Term? appeared first on .
[atom_content] =>Gold has played an important role in the economy of many countries throughout human history. Gold was considered a universal currency for a long time, an example of this is its use in the Byzantine Empire more than 1,500 years ago, while today many countries use it as a world reserve asset.
Due to the popularity of gold on a global level, many people want to buy this precious metal, however, some people want to buy gold thinking only in the “short term”, however, this may not be convenient for some individuals.
Not Spending Money We Need
Many people make the mistake of spending money they need to pay for things in the short term like utilities, education, food, etc. There are also cases of people using money they need in the medium term, such as to pay annual insurance premiums, annual taxes, travel, annual tuition, etc. It is only recommended to spend money that we have saved and that is not part of our monthly budget, for example, it is recommended to first develop the habit of saving and only when we have an amount saved (destined for investments) then it is only recommended to buy gold.
Ease Of Sale Or Liquidity
Although gold can be sold anywhere in the world, the truth is that said sale is not “immediate” but, depending on its presentation and level of purity, it can take a while to be sold. Due to this, it should be taken into account that gold is a more specialized sale and that said sale tends to take longer than other financial instruments such as shares, currencies of other countries, etc.
Ability To Increase Its Value
Although gold has the ability to increase its value, this growth is not exponential but occurs slightly or gradually. It is important to remember that the main reason many investors buy gold is to protect their wealth, as gold tends to retain its value over time.
While the value of gold can go up or down, such changes are very slight or gradual. In case the price decreases, the underlying value of gold does not change much, this is because a fixed amount of gold is a highly valuable commodity, in addition to having many practical uses such as electronics, jewelry, medicine ( dentistry), the glass industry, the aerospace industry, etc., while in the case of other alternatives such as the US dollar (which is a fiat currency), its price tends to fluctuate more because it does not have an inherent value, but depends on the value that people or states assign to it (in addition to the monetary policies of each country).
Hedge Against Inflation
Gold increases in value when inflation takes hold. Because of this, many investors buy gold to protect their wealth from external factors such as local currency inflation, inappropriate monetary policies, or conflicts/wars. That is, during times of instability, gold presents itself as an effective “safe haven” asset.
It Does Not Generate Dividends
Another reason for not recommending the purchase of gold in the short term is that gold does not generate dividends or passive income (as other instruments such as shares, fixed terms or bonds do, which do generate dividends and interest). However, the only return that can be obtained from gold is when it increases in value and we decide to sell it
…
The post Why Is It Not Recommended To Buy Gold Thinking In The Short Term? appeared first on .
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