When it comes to making yourself wealthy, your bank account savings can only get you so far. You need to invest as well, which allows your money to grow passively over time. Which investment should you get, though?
Here is a less-standard but likely answer: go for gold.
Trust on its rareness
Although many items can bear gold, the metal itself is valuable and rare. It is hard to produce and, despite new technology, is still not entirely easy to extract. Further enhancing the perception of its rarity is the demand.
According to World Gold Council, the demand for the metal increased by 2 percent or up to 4,309 tonnes between 2015 and 2016. Industry leader Atkinsons Bullion asserts that you can now buy gold online, and it is as easy as buying any other product over the Internet.
Buying and selling gold have risks, and the metal can still be prone to devaluation, but it can also surpass other forms of investments. Its value, for example, can exceed fixed-rate bonds. Financial experts also expect it to rise even in the midst of a US Fed update while it went up during the height of Brexit.
Any sound financial advisor will tell you to avoid risking your eggs in one basket, but certainly, one of the eggs you need to have is gold to help you counter possible fluctuations and devaluation of other conventional investments.
There is more to gold than bars
When you invest in gold, you normally purchase bars, which you can keep in the bank or other secure places of your choosing. Nevertheless, gold can also come in other forms, and their value can just as be expensive as the metal itself. A good example is a gold coin.
Many factors affect the value of a gold coin such as the rareness or fineness, so you need to choose one correctly, but if you’re wise, it can fetch at least £80,000 in the collector’s or auctions’ market.
Buying gold coins in London is easy, convenient, and cheap. A pre-owned 1901 Victoria Veiled Head sovereign coin can be worth only £257 CGT free. Get the special offers, and you get more value for money.
Gold is not for everyone, but surely, it is something all who want to be wealthy must consider. Hopefully, these points will encourage you to try it.