When taking a look at gold as an investment, there are several alternate ways to go at it. Some choose to buy and hold, others speculate. Regardless of how you choose to invest, the fact remains that for you to be successful, you need to understand the subtleties of this market and how to capitalize on it's fluctuations. You live or die by your researching tools.The following artcile will help you with these tools You can choose to simply buy in the market, but if you have ever had the desire to potentially buy physical pieces, make sure you have a look. You will be glad you did.
One tool you've got to have access to is a gold calculator. Irrespective of how many times you buy and sell gold, you may always want to make sure the price you (or the price you are paid) lines up with what the prevailing gold prices are on that actual day, at that particular time. You never can say when the market will get hit right before purchasing and you'll be left holding the familiar bag.
If you're buying physical gold, you'll want to make sure you own a 5 bottle testing kit to figure out the karat gold of jewellery. These kits can decide if a piece it 10k, 14k, 18k, 22k or solid gold. Obviously this is enormous seriousness when your livelihood relies on purchasing low and selling high.
Of course no gold customer worth his weight in gold (sorry, I could not help myself) would ever be without a strategy of weighing the pieces he plans on purchasing. You'll want to pick up a 600g pocket scale for weighing the pieces you are interested in.
Good optics are just as important. If the jewelry you buy isn't going to be simply burned down into gold and the rest dumped, you might find yourself looking at some quality gem stones. you might also think about purchasing a lighted eye loupe with some LEDs for clear viewing when inspecting the pieces of jewelry.
Additionally, you will likely need a 2 part polishing cloth to wash a piece up for resale if it is nice and some re-sealable zip bags to help you sort out pieces, store them and keep them organised.
All of these items will help you in your gold purchasing and investing. Irrespective of what your intention is, you want the sharpest tools around to maximise your investing and make the most profit.
One tool you've got to have access to is a gold calculator. Irrespective of how many times you buy and sell gold, you may always want to make sure the price you (or the price you are paid) lines up with what the prevailing gold prices are on that actual day, at that particular time. You never can say when the market will get hit right before purchasing and you'll be left holding the familiar bag.
If you're buying physical gold, you'll want to make sure you own a 5 bottle testing kit to figure out the karat gold of jewellery. These kits can decide if a piece it 10k, 14k, 18k, 22k or solid gold. Obviously this is enormous seriousness when your livelihood relies on purchasing low and selling high.
Of course no gold customer worth his weight in gold (sorry, I could not help myself) would ever be without a strategy of weighing the pieces he plans on purchasing. You'll want to pick up a 600g pocket scale for weighing the pieces you are interested in.
Good optics are just as important. If the jewelry you buy isn't going to be simply burned down into gold and the rest dumped, you might find yourself looking at some quality gem stones. you might also think about purchasing a lighted eye loupe with some LEDs for clear viewing when inspecting the pieces of jewelry.
Additionally, you will likely need a 2 part polishing cloth to wash a piece up for resale if it is nice and some re-sealable zip bags to help you sort out pieces, store them and keep them organised.
All of these items will help you in your gold purchasing and investing. Irrespective of what your intention is, you want the sharpest tools around to maximise your investing and make the most profit.
About the Author:
William Rossi is an investor and a gold consumer. He is living in Arizona with his spouse and 3 youngsters. He likes writing about gold and has written 1 or 2 articles including some about gold markings and measuring gold.
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