8 Things To Look For Before Buying Gold

Is reportedly gold prices are down (about 3%). Inevitably there are many people who hunt. Gold is one of the most desirable precious metal, but can be used as an investment vehicle which is not affected by inflation, it can also be worn as jewelry to beautify themselves. Gold sold is generally divided into three types, namely solid (bars / coins), jewelry and white.

Before buying gold, you should know what is the purpose of buying it. If you choose to invest, buy the form of bars or coins. But to simply collect and guard at a time when the financial situation is difficult, can choose the form of jewelry. For loan tips, you can see it in bad credit loans overnight.

Quoted from a variety of sources, check out some tips on buying gold, whatever your destination.

  1. What is your Interest Buying Gold?

Before buying gold, set your goals first. If you want to invest, choose gold bullion or coins, because of its intrinsic value is relatively large. As for jewelry at a time savings, it can choose the gold that had high levels. For gold jewelry, relatively higher resale value if the brilliance is still maintained very well.

  1. Check Current Gold Prices

The price of gold on a daily basis, so you are obliged to check it on the market. Open sites that specialize himself for it. On the site you can see directly the prices of gold according to its kind.

  1. Where to Buy Gold

It is important determining where to buy a good gold. Buy gold at a reputable shop that is clear. It is useful to provide a sense of security and of good quality. Note also the resale price in the store, not to the resale price has fallen dramatically. Avoid buying gold at the same price as stated in the letter.

  1. Check Physical State Gold

In choosing gold, preferably with zoom spotless green in the pores. Some stores often assume it is something normal, but it is not. The gold mark has not been washed properly and still leave residual chemicals that can cause allergies.

If you choose to buy gold in the form of jewelry, check properly if there are scratches, hollows and other defects. Because when you want to sell it back, it will affect the price.

  1. Questions and purity levels of Gold

International standard purity level of gold is as follows:

– 24-karat gold is pure gold (99.99%)

– Gold 22 carat gold has a composition of 91.7% and 8.3% mixed with other ingredients (usually silver)

– Gold 20 carat gold has composition 83.3%

– 18 carat gold has a composition of 75% gold

– Gold 16 carat gold has a composition of 66.6%

– Gold 14 carat gold has a composition of 58.5%

 9 carat gold has a composition of 37.5% gold

In Indonesia, the standard gold content in gold shops is somewhat different. 24 karat gold is 90% gold, 23 karat gold is 70% gold, 22-karat gold is 40% gold and others. In a way, the system of buying and selling gold on the market (traditional-gold shops) was quite apprehensive because there is no standard system and the consistency of price, weight and purity.

  1. Save All Forms with Good

After purchase, you’ll get some letters such as receipts, certificates of gold to purchase orders. Keep all letters obtained well, as it will be required when going resold. This is because not all buyers of gold, either stores or other places, the expert in determining the gold content. The term has been no standardization. Keep in mind if your documents are lost, you can fall in gold prices. Store in a plastic along with gold and then sealed.

  1. Save the Gold Right

Having gold is tantamount to store valuables or savings. If gold was stored in the house is not too much, use a box or personal safe. If gold quite a lot (1kg bars above), it should be kept in a safety deposit box at the bank. The cost is not too expensive, and vary from one bank to another.

  1. Gold as collateral

Owned gold could be a good guarantee to earn money when the financial situation is difficult. Bring to a pawnshop and guaranteed, gold can be reimbursed once you have the money. In this case the mortgaged gold better, not sold, because if you buy a new gold the size and content of the same, the price is not necessarily the same.