Gold price by Investorocean.com
What to Keep in Mind while Making Investments in Gold ?
Gold has always enjoyed the status of being one of the most preferred investment option. Without the differentiation of class, it has proved to be an acquisition of the masses, rather than limited to certain class of the society. While it is tempting to buy gold blindly for a certain value, you should keep in mind while making investments in gold few things.
Different Type of Gold Investment
There is more than one type of gold investment, which includes physical gold in the form of bars, bullions, bricks, coins or manufactured jewellery; also digital gold or E-gold which is like physical gold itself but with someone else assigned to store it for you; or Gold ETFs, Mutual funds or Sovereign Gold Bonds. Each of this different type of gold has different investment plans and advantages, so choose the one, which suits your investment strategy.
Current Price of Gold
An investor must know the trending price of gold so as to avoid acquiring it in a value higher than its expected valuation, which is expected to correct itself in due course. You must always invest to get the highest return on interest (ROI)
Purity of Gold
While there are hallmarks and the BIS which is assigned to certify the purity of the gold that you are buying you must know the different carat category of gold and know the extra alloy mix, additional charges etc. for the correct valuation of your gold investment. In case of gold, which is not in physical form, however, the purity is assured by the issuer of the bond/stock or by the manufacturer, itself and you need not be worried about it.
Is Gold a Good Investment ?
During the peak of 2020 pandemic situation, the market saw its worst ever crash in the recent years, however while every industry and stocks and assets fail to perform during the period and even after that, Gold remained one of the most sought after acquisition for investors. With its easy liquidity, gold has always remained one of the most preferable option for investments since ages. Even after the stability in the market, gold prices have regularly shot up and that is primarily because of the low rates of interest, which has encouraged gold purchase for investors.
Gold has act as a hedge against inflation when in a worst-case scenario the value of the currency in the market gets so inflated that the gold could be the controlling standard of finance flow in the market. Be it physical gold, which is tangible, or the intangible digital gold investment, it has proved to be a guaranteed instrument for wealth creation.
Investment in gold along with other stocks or equities gives you that assured diversity that acts as a safety net, if and when the market crashes or does not performs up to expectations.
How to Know If You are Buying Fake Gold ?
In India, since it Gold is the most favoured acquisition there are also many who tend to make use of it and sell you cheap imitations or fake gold, which might not be that easy to detect for the naked eye. However, you can find out via different methods if the gold you are purchasing is fake or not.
In India, BIS Hallmark is the certification of the purity of the gold. Hence, you should always look for the hallmark marking on the gold to know if it is real or fake.
This is simple enough method to know the purity of the gold. Real gold does not attract magnet but many other alloys and metals do hence bring in a magnet close to the said gold to check its authenticity.
Gold because of its density sinks in water whereas other fake alloys tends to stay afloat; this could be easy test to detect the purity of gold. In addition, real gold does not rust or loose colour while fake gold will most probably will.
Since it is resistant to corrosion a simple acid test will reveal the ingenuity of the fake gold, because it will corrode immediately losing all its colour.
Like mentioned above, its non-corrosive quality makes it impossible to fade or lose colour, hence a simple rub against a matte ceramic will most probably reveal the fake gold.
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