Gold investment is one of the most desirable investment instruments because it has low risk, and the price tends to rise from year to year. Gold investment has several advantages, such as an inflation hedge, namely, the value of gold is not eroded by inflation. Another advantage is that gold has high liquidity, so it is easy to convert in the form of money and can be sold anywhere quickly.
Therefore, gold investment can be the right choice for you. But before that, consider the following tips first so that you can get the maximum benefit.
The first tip is to determine your goal to invest in gold, whether retirement savings, savings for marriage, education, expenses for heartbreak, and others. Because by having a clear goal, you can determine how much gold will be invested to achieve that goal.
Choose Precious Metal Gold
For novice investors, choose precious metal gold in bars rather than in the form of gold jewelry. Because in gold jewelry, there are cost components such as manufacturing costs, aesthetic value, and depreciation (decreased prices).
These factors cause the selling price of gold jewelry to be lower. Then the precious metal gold investment is more suitable and profitable to be used as an investment.
Monitor Gold Prices in the Market
If you are sure to invest in gold, the next tip you can try is to monitor the price of gold in the market. You need to research the trend of gold price movements and what factors influence it.
It is very important to know when is the best time to sell or buy gold to get optimal profits. The thing to note is that gold is a medium-term investment type, so to get optimal profit, you can withdraw it in cash after more than 5 years.
The following are 3 tips for successful gold investing that you can apply.