Regardless of the purpose, gold is considered to be a good investment. As one of the most traded and in-demand metals in the world, gold fetches buyers, even when the prices are soaring. With that said, buying gold can be confusing, especially if you are new to metal investments. In this post, we bring a list of facts worth knowing about buying gold.
Ways to buy gold
From earrings and diamond rings to coins and bullions, gold comes in all forms, shapes and sizes, so decide what interests you the most. We are talking of physical gold here, and not ETFs. If you are someone who is stocking gold, bullion and coins are great, while jewellery is what people like traditionally.
Purity of gold matters
Pure gold is 24k or 24-karat, and you can buy coins with that kind of purity. Just to break the bubble here, there is nothing called pure gold to be honest. Whatever coins or bullion you buy, it is usually 99.9% pure. This is because gold is brittle and prone to damage in its purest form. So, when you buy 12k gold, it means that the product contains 50% gold and 50% of other compound or metals. The price of any gold product is determined by the purity of gold used.
Consider the purpose
If you are buying gold products with the intention of investment, consider at least 18k gold at the very least, while 22k is often considered to be ideal, as well. However, when you want to buy gold jewellery for daily use, the best idea is to go for 14k or 18k gold, as the allow is much more durable. It also largely depends on the product you are buying. For example, bracelets made of 12k gold is ideal for rough use, while for earrings and chains, you should be considering 18k gold. Gold products may contain nickel, so ask about that, especially if you are allergic to the metal.
Where to buy?
Today, many brands have online stores, so buying gold jewellery or coins for that matter is an easy thing. You don’t have to bother about buying bill or purity of the product, as long as the seller is a known one. Make of these websites have easy filters, so you can select all the right things, including length of a chain or the kind of ring size you want.
Check these basics and shop like a pro!