Current Gold Prices
The current gold prices took a slow plunge on Wednesday as the stocks index climbed and major commodities fell following the latest publication of the US Federal Reserve minutes. Further fluctuations from the current gold price per ounce $1,822.67 USD are expected in the near future if QE3 (third round of quantitative easing) takes place in September. Over the centuries, yellow gold has always remained a safe asset for investors during futile economic phase.
Safe Gold Investment And Current Gold Prices
Interestingly, some industry analysts believe that the physical demand for gold is likely to shoot up in the months of September, October and November. This prediction may hold true as the demand for precious metals gold and silver will likely soar over the next three months when the world’s largest gold market, India, celebrates its annual festivals.
If the flickering current gold price per ounce USA has been giving you sleepless nights then perhaps it is high-time you get familiar with the rules of investing in gold.
Here are the ‘hows’ of securing your gold investment
- Purchase ‘Good delivery’ fine bullion and save on coins and bars
Quality matters over quantity. Procure those with assayed at 99.5% or better and those traded as 100% ‘fine’ among the world’s best quality for higher quality and cost effectiveness.
- Opt for allocated storage in commercial vaults than banks
In most cases, the banks usually have an upper hand when it comes to ‘unallocated’ gold as liquidity reserve finance. And if they do ‘allocate’ your gold with the banks, they usually levy handsome charges as storage option. On this pretext, fully allocated and insured commercial vaults do not have liquidity reserve requirement, and they charge minimally.
- Do not store your physical gold at home unless for few coins or bars
Converting your hard earned money into investment for handsome profit or storing physical gold assets at home can turn out to be unwise decision over the years. Storing a few gold bars and coins at home are good enough for your mini safe under the comfort of your care, but not if it accounts for large scale storage. In addition, gold secures your investment only if held in a reliable country.
- Do away with certification
In general, investment in precious metals is done in various forms other than their physical essence, and one of the most popular among them is gold certificate (with it being one of the most common means too). The concept in itself is not irrational except for the fact that incontigencies related to ownership and the trust between the owner and the issuer could develop later. In order to avoid any such tangible disagreement, the best policy is to insist on regular publication of bar lists and reconciliations, and to avoid involving no one else in the ownership title.
- Ensure your right to withdraw for personal possession
Making sure that you control your right to withdraw your property in full is as important as ensuring cost-savings, liquidity and security of using a safe vault.
As the year draws to a close, the increased current gold prices 2011 may not slide down drastically even if the mounting debt of the US and European economy take a slow retreat.