Easy Gold Investment Guide for Beginners

One of the advantages of investing in gold is the safety and stability of its value. No wonder, if many use gold as an old age investment or for "just in case" in the event of a crisis.

Are you interested but have no idea how to start investing in gold? Don't worry. We have summarized how to invest in gold in 7 steps so that beginners like you can invest safely.

Clearly Define Gold Investment Goals

The first step is to define a goal. If your goal is simply to be financially free, that's okay. However, it's best to be specific. This will help you determine how many grams of gold you should collect.

For example, you need to invest in gold for the cost of buying a house. So, calculate how many grams of gold you need according to the nominal cost of buying a house and for how long.

Observe and Compare Gold Prices

This second step is also quite important. Before buying gold, you should monitor the price of gold in circulation. You can check it on various platforms milling about on the internet.

In addition, also compare the price of gold from various brands. Also, pay attention to the price difference and buyback gold so you don't lose when you want to sell it back or melt gold.

Indeed, gold prices tend to be stable, but not not experiencing a decline at all. Buy gold at the lowest price, then sell gold when the price soars.

Know the Purity Level of Gold

There are several grades of gold purity, from 14 carat (58,30%) to 24 carat (99,99%) or the purest. Make sure you choose a good level of purity to match the price.

In the latest regulation by the Ministry of Commerce which regulates digital gold on futures exchanges, the gold that must be sold by the service online must contain a purity of 99,99% or equal to 24 carats.

Determine the Type of Investment

Next is choosing the type of gold investment. That is, you can choose between investing in gold directly offline or online. If you want to buy directly, all you have to do is come to the nearest gold boutique or outlet, for example from Antam's or Pegadaian's boutiques.

In addition, you can also choose how to invest gold directly online. This service has been opened by many digital gold investment applications such as Pegadaian Digital. LM safes from Antam, Pluang, Tamasia, Indogold, and many more.

You can also choose an investment method by saving gold directly online which have been provided by various platforms such as DANA, OVO, Bareksa, etc. This option allows you to install small grams of gold starting from IDR 5.000 to IDR 10.000.

Buy Gold in a Trusted Place

Make sure you choose the best gold investment place. You can compare several gold producing companies such as Antam and UBS. Or also choose a credible place to save gold such as Pegadaian, Pluang online application, DANA, Tamasia, Indogold, and the like.

What is important, you must be able to compare the buying and selling prices, the price difference, buyback, gold printing fees if you choose a gold saving service, gold deposit fees, and other features.

Prepare Gold Storage

After buying, make sure you have prepared a safe gold storage place, such as a coded safe. However, if you are afraid of theft, you can leave it at the place where you bought the gold.

Also, remember that gold has a slow growth in value. So, invest in gold regularly so that the goals that have been made at the beginning are achieved properly.

Choose the Right Time to Melt Gold

Do not rush to sell gold. Do not sell gold when the price is low, but sell gold when the price is high.

Gold is synonymous with long-term investment models. At a minimum, people will save gold in 5 years in order to enjoy the benefits of the gold price which incidentally has a slow growth in value.

This is an easy way to invest in gold for beginners. For those of you who are Muslims, investing in gold is not something that is forbidden in Islam. MUI even issued a fatwa that gold investment is permissible or legal, even recommended.

Let's start being aware of investment so that we can welcome the future without worrying about money!

Image source headers: Unsplash

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