How to Actually Make Money with Gold
Gold is considered one of the safest assets, and the ever-popular precious metal has an outstanding record of profits. Throughout history, gold has stood out as a hedge against economic troubles like inflation, currency fluctuations, conflicts, and crisis like what we experienced during the 2020-2021 global pandemic.
During uncertain times when the stock market is trading below its edge, gold offers a safe alternative to stocks and shares. But how can you actually make money with gold? Read on to learn more.
Buy Gold Bullion
One of the simplest ways to invest in gold is to purchase and store it in bars or coins. But note that owning physical gold has drawbacks as it needs to be highly protected and even insured. To make gains, you will need to reasonably predict the precious metal’s price rise. While predicting gold prices isn’t easy, gold can fetch you good profits if your prediction goes right.
Invest Money into Gold ETFs
Another way to trade gold is by putting money into ETFs that own money. This is a good choice if you don’t want the burden of owning physical gold gambling with the unpredictable market margin requirements. ETFs (Exchange-traded fund) is a pool of money from traders or investors put into various gold and mining companies to track this precious commodity. The most popular ETFs include iShares Gold Trust (IAU), SPDR Gold Shares (GLD), GDX, and GDXJ.
Gold futures involves speculating on the price of gold. It’s generally a contract whereby you purchase a certain amount of gold at a given price in the future. You can strategically trade futures contracts for gains from the changing gold price. But be aware – gold futures is generally considered the riskiest way of trading gold.
Buy & Sell Gold with Golden Peaks
Ready to buy, sell, or trade your gold? Get started by visiting our store in Denver at 8966 W. Bowles Ave Unit N, Littleton, CO 80123. Need more information? Feel free to contact us online or give us a call at (720) 696-6750.