In the area of investment, gold is the most popular metal. Gold is precious, bright yellow coloured, shiny metal which is known for its beauty. It is respected all over the world because of its rich history and value.
The Reasons of Investing in Gold:
Several reasons are responsible for the popularity of gold.
- Gold is a hedge against inflation.
- Gold maintained its value even passing after many years.
- It is called ‘crisis commodity’. When financial crisis arises gold retains its value
- When the value of U.S. dollar falls gold maintain its value. People go the safe haven of gold at that time. If you seriously consider investing in this beautiful metal, gold investment books can help you a lot.
How to invest in gold?
There are different ways through which you can invest in gold.
- Gold Coins and Bars:
Investment of gold coins and bars is a good way of input. You can buy coins or bars from banks or any other financial institutions. Store them as assets and then sell them at the right time. You can buy gold coins and bars from jewellers as well. Even though you can buy from banks, you can’t sell them there back. But you will be able to sell coins and bars to jewellers.
Buying jewellery is also a good way of investment. In India, women have a culture of wearing gold jewelleries. But every country is different. That type of culture is not prevalent in many western countries. Even if you don’t follow the culture of wearing gold ornaments, that’s not a problem. See this just a type of investment. You don’t have to wear those jewelleries. But there is a disadvantage in this investment. Buying cost includes making charges which 10% or 20% of the total cost. At the time of selling the jewelleries, the jewellers will deduct making charges from them.
- Gold Exchange Traded Funds:
It is a mutual fund which invests in gold. Financial products are physically-backed with gold bars. They are purchased and sold as shares.
- Equity-based Gold Funds:
These funds do not directly invest gold. They invest in the companies which are associated with the marketing of gold.
Gold Investment Books:
Gold investment books are useful because they help us understand different strategies. We also get many interesting, helpful information if we read.
There are many good gold investment books. But some of them are great. Get some information about 2 great books.
- The ABCs of Gold Investment: How to Protect and Build You Wealth with Gold by Michel J. Kosares:
This book is a popular edition. Michel J. Kosares is a respected founder of one of the oldest gold firms. He covers all the topics which are essential for a beginner in the field of gold investment.
- Precious Metals Investing for Dummies by Paul Mladjenovic:
This book is also a great one. In this book, the author gives valuable advice to the beginners. Many people think it’s totally safe in investing in gold. But gold investment has some risks as well. Those risks are highlighted in the book.
If you are "a gold rookie", read gold investment books before beginning your investment activity.