It’s taxing to keep a tab of the loans, credit card bills, and utility bills to pay these off timely and avoid incurring any additional charges.
Invest in GOLD and give a boost to your investment portfolio
In this era of online trading and accounts, sometimes money seems unreal. We certainly do not see our money anymore as a tangible object. This is what makes investing in gold coins very solid and satisfying. There is nothing like the feeling of the weight of each coin when you come out of a gold shop.
Below are some pros and cons of buying gold coins as an investment. We will be using the gold rate in UAE as an example and stick to this when there is a need to explain concepts.
Gold is considered to be one of the most precious metals. Gold and the other hard metals have been long-standing traditional investment plans. This is because of the following reasons:
However, there are some disadvantages associated with investing in gold, such as:
After weighing the costs and benefits associated with investing in gold, if you have come to the conclusion of purchasing it, the most important thing is to get it from a reputable retailer or financial institution. You should always check for the gold rate in UAE across the different dealers and once you find the retailer that gives you the best deal you should look out for a Certification. For instance, if you are purchasing gold in the city of gold, Dubai you should look for a retailer with a Bareeq Certificate. If you opt for a dealer that you do not know or have never heard of, you should get the gold coins inspected via a trustworthy source.
When you are holding gold coins or any form of gold, it is important to ensure safety before anything. You should only store gold in your house if you have a safe. If not, it is the ideal option to rent out a locker safe at a bank and store your gold and other valuable items there.
The Bottom Line
Many investors choose gold as an option for financial investment because it helps in diversification. The key to diversification is to hold assets in your investment portfolio that are negatively correlated. Gold has had a history of negative correlation with other paper investments.
Additionally, there are other advantages of holding gold such as a hedge against inflation, protection against deflation, etc. It also helps in acting as a financial cushion in case of any stressful times, this is because gold can be liquidated easily. However, there are a few cons that one should always keep in mind before investing in any form of gold.