What I Wish I Knew a Year Ago About Trading Gold in General
Many people forget that gold isn’t merely something to admire or keep as a prized possession but was instead a currency for centuriesWe also tend to forget that there isn’t enough gold available in physical form,many remember only after they want to claim it once they have it in the form of stockOwning gold on paperhaving it stored somewhere isn’t nearly the same until you claim it.
Why is the leverage on gold still massive? Because people believe owning gold on paper equals owning it a physical formIt is why if you want to buy gold, especially if you think the market is going to crash, you should make sure you have it stored somewhere, not on paper but physically.
Buying Gold in 2021
The gold rally started back in 2019,it’s still going strongExperts predict by the end of 2021, the price of gold in 2021 will reach $2,300 an ounceThe value will continue to rise through 2022, but we will have to overcome some hardships due to the pandemicWhy? Because public debt is massivecontinues to increaseThe Federal Reserve will not change its monetary policy,when it does, it will be when inflations stop going above 2%Another criterion that has to be reached is full employment, which is not easy to achieve, especially since we don’t know when the pandemic will end.
Some were sceptical since the deployment of Covid-19 vaccines put on halt interest in gold, but Commerzbank claims that pandemic won’t negatively affect the gold price this year.
When it comes to investing or buying gold, the main rule to follow is building up your liquid goldif possible, silver stocksThe aim is to get as much gold as you can since we mentioned a lack of physical goldThat’s why you should keep your attention to the price of an ounce of gold because it should aim to be as close as possible to the price you bought “on paper.”
Be aware you will have to pay any additional fabrication fee because your dealer has to pay the money to the mintAfter that, you need to pay the brokerage feefinally, you can get it deliveredMake sure everything is legalcompletely transparent; we can’t stress that enough.
Liquid Stocks
Gold is excellent monetary insurance because you can build up your savings long-term,the value is always most likely to grow, especially if you don’t touch your savings for a long time.
As with any investment, you will need to have a solid plan for the long runBe sure you are turning gold into your savings, rather than using it for something elseIt’s something that will always be of value,you don’t know when the time will come when you will have to use itTHat’s why you always need to have access to your gold,it needs to be liquidAlso, some rules are the same as trading any other stock – don’t go too big right away,once you are satisfied with a smaller amount of coins, you can continue upwards.
Access
It is essential to know various ways of storinghaving access to goldWhatever you do, whether it’s safe in a bank or at home, you should have direct access to it if something comes out of the blueIt sounds like something from a tv show, but it is the best way to make use of gold you are savingWith this being said, it certainly doesn’t mean you should have all of your gold near you—just the essentialsIf we are talking about a considerable amount, then you should keep it in a safe jurisdictionThis applies if you have over $50,000 of investmentIf it’s anything less than that, try keeping it nearby.
