Talking about gold
Written by R. A. Stewart
Gold has hit a record price lately and one just wonders how long will this upward trend continue. It is a good idea to keep to the stick to the basic rules of investing. Here are the main ones:
1. When there is a chance for capital gain there is also a chance for capital loss and investing in gold is no exception.
2. Something is only worth what others are prepared to pay for therefore the price you will receive for something whether that be gold, property, or shares is reliant on someone wanting to purchase it at the price you are after.
3. Do not speculate with money you cannot afford to lose but rather use your discretionary spending for that.
4. Diversify your portfolio in order to reduce your risks. In other words do not place all your eggs in the one basket.
5. Have a short term, medium term, and long term strategy for your savings and finances
6. Do your homework before investing in any company or commodity.
Read all you can about the various types of investments in order to make an informed choice.
There are various ways to take advantage on the record gold prices; you can invest in gold mining companies on the sharemarket, purchase gold coins, or invest in gold bullions.
Goldco has lots of information on their site for those interested in investing in gold, check it out below:
https://affiliates.goldco.com/l/1VRW1MU2Q/
www.robertastewart.com
