If you're a savvy investor, you know the importance of diversifying your portfolio. There is no better way to add a little bling to your buck than with gold! The gold price is rising and you don't want to be left in the dust. Before you head to the dealer and start buying up all of his gold, keep a few things in mind. This will make you a smarter investor and leave you with more money in the end.
First of all, you should be investing in this precious metal for the right reasons. You're scared of inflation, and really concerned about the financial turmoil of our current society. It sounds like gold would be a good choice for you!
You also need to understand how the gold market works before you head to the dealer. You want to invest when the timing is right, so always check out gold price charts and trends before you make your move. Whether you're buying or selling, the price must be right!
Additionally, don't just depend on selling your gold once a week to make money. Gold should be an investment, not the investment. Sometimes you have to lie in wait for the right moment to sell your gold. Have enough put away so that when the time is right to sell, you can sell it.
Since this gold will also be used to diversify your financial portfolio, you'll want to make sure that you have a reasonable amount of it. Don't have gold as fifty percent of your portfolio because that is simply too much. You just want a little of it -- maybe ten to fifteen percent -- so that if one of your other assets tanks, you'll have your gold there to back you up.
Moreover, keep in mind that there are other ways to buy gold instead of just going to the dealer and purchasing a few gold bars. The physical gold has to be mined in order for it to exist, so think about putting a little money into a gold mining company. This can be beneficial to you because you don't have to store the gold, or worry about someone breaking into your home and taking it. When gold price rises, you can make money by having stock in one of these companies.
Be the savvy investor you are and invest in gold the right way!