During times of economic uncertainty, gold has historically been the main commodity that people put their trust in. This happened recently when the price of gold reached its highest of $2,074.88 in August in 2020, at the height of COVID-19.
If you are wondering if you should buy gold now, then the answer can be determined by the current gold price and the circumstances that affect the global market.
Find out more about buying gold bullion at this time of great opportunity.
Why Gold is so Special
For thousands of years, jewelry used gold as the focal point, but its aesthetic value isn’t the only reason for its popularity. Its versatility as an electrically-charged metal allows it to mix with other metals to make an alloy, and is used as a healing component for inflammation.
The ability to stretch and bend gold also makes it easy to manipulate into all shapes. And its natural antibacterial quality allows it to be placed in artificial prosthetics like pacemakers. Gold is even labeled as a high-quality culinary ingredient with multiple health benefits.
It is clear why so many people want to own gold commodities as it is unlike any other natural resource on earth.
What is Gold Bullion
Buying gold for the first time can be overwhelming as there are many types of gold available. Jewelry may be the first thing that comes to mind but it is not always the best investment. Most jewelry comes in 14-karat or 18-karat gold which only contains 58.3% and 75% gold. You need to buy 24-karat pieces to reach 99.9% of gold.
Gold bullion is the highest purity of gold, which offers the best value.
Types of Gold Bullion
Instead of jewelry, you can choose from several types of gold bullion. Pick from minted coins, bars, or gold in raw form that range from 90% to 99% gold.
Governments mint coins that also hold a currency value. However, melted-down coins hold a greater value than their circulation worth. Bars are measured in grams starting at one and then labeled by weight. Raw gold is a bit harder to find and needs to be tested for authenticity.
Benefits of Investing in Gold
Investing in gold has many benefits that are unique to this asset, including:
- Diversify your portfolio in case of an economic downturn in the market
- Provide investment versatility as you can buy stocks in gold and physical pieces
- Protect the gold price from inflation as it has a limited supply
While gold will not make you a large profit short term, it is a stable investment to hold onto for the long run.
Find a Reliable Gold Retailer
Buying gold bullion requires you to find a reliable seller. You want a combination of both reputability and convenience.
Only Gold has been in the gold business since 1978 and in 2014 began providing an accessible way for people to invest in gold online.
Get started with your investment today by viewing our gold special deals.