To buy gold futures or options successfully requires a brokerage account and an intense amount of industry knowledge. Under a gold options contract, you have an agreement with the option to buy or sell gold if it reaches a certain price by a predetermined date. With gold futures, you commit to buy or sell gold in the future at a specified price. (If neither of those words means anything to you already, you should probably avoid these gold investments for now as they are highly speculative.) Franklin Gold and Precious Metals Fund (FKRCX)įor investors willing to take on more risk, futures and options may be attractive.Gold funds may track the price of gold, include the stocks of multiple gold mines and refineries or provide exposure to gold futures and options. Rather than investing in a single company tied to gold, you invest in a basket of gold-related securities through gold mutual funds or ETFs. This gives you exposure to gold as an investment without the risk or headache of handling physical gold. While their stocks’ prices may not entirely match the trajectory of physical gold’s price, they will likely be correlated. Top gold mining companies include Barrick Gold ( GOLD) and Newmont Mining Corporation ( NMC). Rather than investing in physical gold, you can instead buy stocks in companies that mine and refine gold. If all of that sounds like too much of a hassle, but you still want a little bling in your investment portfolio, consider investing in stocks, mutual funds and ETFs related to the gold industry. That means you’re probably targeting gold items that are at least 91%, if not 99%, pure. Ensure any gold you purchase as an investment has the purity level to help it stand the test of time. Purity: The gold content in the coin, bar or piece of jewelry has a big impact on its value and worth as an investment tool.When buying gold, look for respected producers like Credit Suisse, the Perth Mint and the Royal Canadian Mint. Manufacturer: Because you’re making an investment, you’ll want to make sure you’re buying from reputable sources that will help your purchase’s value grow over time.And even if you don’t keep your gold at home, you’ll want to check in on your storage provider’s insurance policy to determine how it’s protecting your investment. This can add to the cost of your homeowners or renters insurance. Insurance: If you decide to store your gold at home, you should insure your gold to protect yourself against theft or natural disaster.Make sure you research secure options for storing your gold before you buy it, and keep in mind that safe storage adds costs to your gold investment. While you can certainly keep your gold at home, many investors prefer a custodian. Storage: Physical gold requires a secure storage location.If you decide to buy physical gold, you’ll want to keep a few things in mind:
Factors to Consider When Buying Physical Gold You’ll want to make sure you have as much documentation as possible so you’re able to attest to the quality of your gold when you resell it.
CREDIT SUISSE GOLD BAR UK CODE
You might start with jewelers who are members of the Jewelers of America and have signed a code of professional conduct requiring them to be honest and forthcoming about the nature of their pieces.
Make sure the person you purchase your jewelry from is reputable. Here’s how gold quality (measured in karats) correlates with purity.Īs with coins, you’ll want to be extra careful when buying gold jewelry. Manufacturers use alloys that combine gold with other metals to make their pieces more durable or adjust their color. In addition, keep in mind that not all that glitters is gold. But like gold coins, you’ll probably be paying extra for the amount of gold you’re actually getting-a premium that could be anywhere from 20% to 300%, depending on the manufacturer. Jewelry, especially antique pieces, can provide another avenue for buying gold. Whether you buy your gold coins in-person or online, you don’t want to waste money on forgeries or gold that’s less pure than you’re led to believe. If you choose to buy your gold coins online, make sure to go through a dealer listed in the U.S. You can buy gold coins through dealers, pawnshops and individual sellers that you trust. In fact, the coin weighs 1.1 ounces, approximately one ounce of which is pure gold the rest of the weight is silver and copper. A one-ounce American Eagle coin, for instance, is only 91.67% gold. This means you’ll probably pay a premium over what you would for the same amount of gold in the form of bullion.Ĭoins typically have lower gold content than gold bars. Gold coins, like the American Gold Eagle or Canadian Maple Leaf, are popular collectables.
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