Buying
There isn’t really a wrong time to buy gold, but you should understand more about the market before you do. Much of this will be based on how you perceive the economy at the time you want to make the decisions. But you should make sure that you are using a responsible and experienced source like Andrew Cochineas, for example.
You should spend some time watching the gold market rise and fall and get used to the patterns and indicators.
Type
Once you have decided that buying gold is something that you want to pursue, you will need to decide what type you want. Unlike when you buy stocks and shares, you can buy bullion, coins, bars, certificates and gold mining stocks too. You can also check out gold-based mutual funds.
But if you want to start on a micro level, then you can even begin buying gold jewelry.
Coins
Gold coins are one of the most common forms that people choose to buy. There are so many different types you are bound to find something that you like. In general, you are likely to check out South African Krugerrands, Canadian Maple Leaf Coins, American Eagle Coins, and Chinese Panda Coins.
They are always in high demand, and the idea behind buying gold is that at one point you can sell it. You can buy and sell coins reasonably quickly too.
Bars
Gold bars are what you will most likely see in the movies. People prefer them to many other types of investments because they are a physical asset. You can see what you have stored away, and you have the ability to sell, trade and move your gold as you please. They do, however, retain their value very well.
Stocks and Funds
You also have the ability to invest in gold stocks too. Although you don’t have the same insurance that you have when you have bars, bullion and coins, these are still valuable. There will always be an opportunity for growth in the stocks and funds arena. There are two different types of gold stocks that people will want to invest in. Blue-chip gold stocks and exploratory stocks.
The blue-chip will generally provide consistent results and do well over time, whereas the exploratory stocks may explode in value. The smaller exploratory stocks have the opportunity to be bought out by much larger companies, which will mean a considerable return for investors.
Like anything investment-related, you should work with a company that you trust, and spend time researching the market before you put any money in it. And, never invest more than you can comfortably afford to lose.