Investing in gold is a time-proven way of investing money. And last year it proved its worth. Despite the Coronavirus outbreak, when the world economy was on the edge of destruction, namely gold mining companies appeared to be in a winning position. On the one hand there was a decrease in the scale of gold mining, and on the other hand people were striving to invest their money in everlasting property, gold in particular.
Today the price of gold has reached its historical maximum for the last 10 years. But analysts’ forecasts say that the peak of the Coronavirus crisis has not yet passed, and in 2021-2022 the priceof gold may rise even higher. Thus, Citi Research predicts that the price of an ounce of gold will rise to $2,000 already this year, and Bank of America expects that next year its price will reach $3,000 per ounce.
What does this mean? Well, it’s about time you joined the ranks of gold investors, because if the price rises like that, your profits will increase by a third in a year. Which investment options in gold exist today for private investors? Golden Way will tell you about it!
The lion’s share of all gold mining goes to the jewelry industry every year. Beautiful and expensive gold jewelry is always in demand. In addition to the metal itself, they often contain precious stones, which are also considered to be an investment.
But there is a downside to this investment: the jewelry often has a tendency to go out of style, and if you are not prone to wear it regularly, or you simply do not have a place to wear expensive gold jewelry, such an investment will not be very successful. Besides, there is always a risk of losing such desired jewelry because of trivial robbery or mugging. Moreover, the price of jewelry is not the price of pure gold, but also the cost of the jeweler’s work and the margin of stores and manufacturers.
Each country produces its own commemorative banknotes made of precious metals. They are both an interesting souvenir and a potential investment. Of course, coins are wonderful and prestigious gifts, and they can steadily grow in value among collectors. But again, keeping them at home is irrational, and the chance that over time the coins of your possession will grow in value at least twice is minimal.
Remember the cartoon character Scrooge McDuck? He had a whole vault of gold in coins and bars. The latter are considered to be the most convenient type of investment in the precious metal nowadays. Bullion bars are solid bars of pure gold, without impurities like jewelry or coins. And it is the most honest way to invest.
The value of a gold bar is determined based on its production costs. It is the price of the metal itself, which is regulated by the world gold market. In addition, bullions can be deposited in a bank or converted into a virtual investment in a bank, providing a profit increase due to the growth of gold rates – even without the physical possession of the gold bar, you can get money out of it according to the demand price on the sales day.
It’s better to buy gold bars from trusted manufacturers. Our company produces the bars itself and invites private investors to purchase them at market price. At Golden Way you can invest your money in precious metal on the most transparent conditions.