It’s official — the UK economy is not doing great right now, and that’s not a good sign of things to come. Generally speaking, when the market economy begins to take a slide, people immediately look for something — anything — that’s going to be more stable than what they’re dealing with. Could that bring more UK consumers to gold? We’re not so sure.
You see, gold is expensive — it’s only going to get more expensive as people get more panicked. The financial news outlets are practically scaring people with thoughts about Greece, and that’s not a good thing at all. You have to make sure that you are thinking about your bottom line, but that you are also looking at world market trends.
Gold is not just something pretty to look at. When used as an investment, you will have a hedge against inflation because gold only grows more valuable over time. It’s a precious metal that has always enjoyed a lot of high demand, so it’s not like you’re going to find someone that suddenly doesn’t want to do anything with gold. You just need to make sure that you’re thinking about all of your options from here. There’s nothing like being able to say that you’re part of a market, especially one with such long term considerations as gold.
Does that mean that you just dive into gold? Not at all. What UK consumers need to know is that anyone and everyone can get involved with gold. But you don’t want to try to put your whole life savings into gold. It’s something that’s a good investment because it tends to rise over time, but gold has also taken some beatings over the years. If you really want to dig into the history of gold, you can look up historical charts just about anywhere online that’s reputable.
We think that fractional gold bullion is the best way to go. The 1 oz gold coins are nice if you can afford them, but not everyone can. So instead of giving up on gold, you might want to actually think about going with gold in a much slower manner.
Keep in mind that not all gold investing is created equal. Gold equities trading is not the same as having physical gold. You have more options and much more selling power with physical gold coins. Trading gold ETFs is popular, but it doesn’t have quite the same ring as knowing that you have your investment stored somewhere safe. You can store gold in your home or go to a bank and deposit it into a safety deposit box. It’s up to you — we think that a secure spot away from your home might be a wiser option. There are also online portals for buying gold that allow you to store it in a safe location that’s far offshore, keeping your risk of theft down to a minimum. It’s just up to you to figure out what you ultimately wish to do.
The top commodities manager in the UK has recently come out as a strong proponent of buying gold, but that doesn’t necessarily mean anything. Go back to the numbers, think carefully, and then proceed cautiously — that’s really all you can do, when you think about it!