Gold is one type of precious metal that has long been known as a symbol of wealth and one type of investment to protect the value of wealth.
The value of gold tends to increase in the long run and can provide a favorable rate of return.
Although gold investment is relatively safer, you still have to pay attention to a number of conditions so as not to make mistakes when investing.
Avoid 5 gold investment mistakes that can hurt yourself.
1. Not Checking the Purity of Gold
When buying gold in the form of jewelry, you will definitely get gold with other metal alloys.
This is very different from investing in gold in the form of bars, where you can get pure gold without any other mix.
We recommend that you buy pure gold in the form of bars if you have an investment goal.
2. Do not have adequate storage
Gold is a precious metal that is easy to carry and move. This is what makes gold more at risk of being lost and stolen by others.
When deciding to invest in gold, it is important to have a special depository or can rent a depository at a bank or pawnshop.
3. Not Comparing Gold Prices
Do not rush when buying precious metals. Before making a gold bar purchase, it never hurts to compare prices in several trusted places in order to get the best price.
Do not let you lose because there are sellers who raise gold prices too high.
This is very important especially if you are not monitoring the movement of gold prices.
4. Incorrect Investment Objectives
Do not buy gold to make jewelry to look attractive when it comes to parties.
If you have a goal to get returns in the future, then you should buy gold in the form of bars.
Buying gold bars is much more profitable because you will not be charged with the cost of making it when you sell it again.
One type of quality gold bar is gold which has a 99.99% Antam certificate which is widely available at pawnshops or Antam Boutique.
Do not forget to save gold over 2 years so you can get better returns.
If you buy gold to get profits in the short term, then gold is not the right choice.
We recommend choosing an investment location that can provide optimal returns in the short term, for example by funding at KoinWorks. A peer-to-peer lending platform that makes you lenders can channel your funds to SMEs as borrowers.
At KoinWorks, you can start with only Rp 100,000 and potentially earn returns above 21.32% per year.
You also do not need to worry because because of the protection fund facility whose value is up to 100% depending on the level of risk chosen.
5. Not Monitor Gold Prices
Gold price movements play an important role when you are going to sell or buy gold.
Therefore, you as an investor must make sure to buy gold when prices are low and sell them when prices have risen.
Don’t sell gold when the price is below the purchase price because it can make you lose money.
That is 5 important things to consider when you are going to invest in gold.
Gold is included in the long-term investment, so make sure you invest gold over 2 years or more.
Also make sure you have a safe place to store gold so it is not easily stolen by people.