First Steps To Investing In Gold

by Redeeming Riches on November 18, 2013

Whether you are new to precious metals investing or you already have invested in gold, silver, platinum or palladium, a review of basic tips can’t hurt to ensure you are making the right move for your financial goals and future. We put together this simple guide to help you through the first steps of investing in gold.

First of all you need to consider your particular situation and your individual needs and goals. There are many reasons people invest in gold, and depending on your individual circumstances, your investments strategy will be different in terms of the type of gold you invest in, the amount of savings you allocate to gold and to what you want to get out of your investment. Identifying your particular reasons for investing in gold will help you set the right expectations and make an educated decision regarding your gold investment.

Many people invest in gold because of its growth potential: during the last decade investors have seen the price of gold increasing dramatically, and many analysts predict even bigger gains in the upcoming years, which makes gold an attractive long-term investment option.

Adding gold to your portfolio helps you to diversify your assets, providing additional level of protection against market volatility. And by choosing different types of gold for investing, such as bullion, numismatics and proof coins, you can achieve whatever level of diversification you are comfortable with.

Investing in gold also offers protection of your purchasing power against the inflation and the decline of the dollar’s value. Historically, as the value of the dollar declines, the value of precious metals rise, so adding gold as investment to your portfolio might be a very smart move.

Once you decide to invest in gold, consider your options – compare different types of gold, such as bullion, proof and numismatic coins, and whether you want to put some of your savings into a gold IRA. To learn more, ask a precious metal specialist about benefits of each option so you can pick the one (or mix if several) that suits your needs and goals.

When looking for a precious metals specialist, seek out a reputable company with extensive experience in the field. Look for reviews, Better Business Bureau ratings, contact current clients and speak with a representative to see if the company will be a good fit for you. It is helpful to prepare some questions to ask during your initial consultation and make sure you get answers that make you feel confident about your investment options before moving forward.

If you feel like you’re “being pushed” into buying, it may be a good idea to consider finding another company. Remember, this is your investment and your future; you have to feel confident and comfortable about your decision, as with any other type of investment.

This guide is only gives you a brief overview of how to get started with a gold investment, please feel free to contact us with any questions you might have, or if you feel confused or overwhelmed at any point of the process. Knowledgeable precious metals specialists working for a reputable company will go over all of your questions and make sure you have a clear understanding about options available to you as well as make personalized investment suggestions based on your current situation and future financial goals.

About the Writer:

Peter Reagan is a market strategist for Birch Gold Group, the Precious Metal IRA Specialists. As one of the nation’s leaders in gold and silver investing, Birch Gold Group helps clients protect their savings from inflation and the declining dollar. Clients can convert a 401(k) or roll over an existing IRA to gold or other precious metals without any tax implications or penalties.

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