Do gold investments always imply profits? Not if you deal with the wrong people and indulge in unprofitable transactions. Several scammers and unreliable companies are always on a lookout for unsuspecting buyers. Many of them wait until the money (from prospective buyers) or gold (from prospective sellers) has reached before vanishing without a trace. However, this does not suggest that gold is not for the average person. Following these simple guidelines can help, plus it is important to find a trusted gold company like ITM Trading.
Guidelines for Safe Gold Investing
• Background: If you are dealing with a company with an established reputation, you are less likely to get a raw deal. If they have been in business for some time, it indicates that they are authentic dealers. A record of 10 years or more provides reasonable assurance of authenticity. A company operating for over 10 years is considered reasonably safe to deal with.
• Reputation: It is prudent to look for dealers with a high BBB (Better Business Bureau) rating and accreditations, such as PCGS, ANA, and NGS.
• Terms and Conditions: Gold purchases are big enough amounts to call for a careful examination of the vendor's policies and practices. Avoid companies that do not lay out their terms clearly and up front. Pay particular attention to their sales policies, pricing, and shipping charges. This step will eliminate the possibility of bearing hidden charges later. In addition, inquire about the return policy.
• Overseas Transactions: It is always safe to transact with domestic companies or those with existing operations in your country. The convenience of buying online and a host of lucrative deals often prompt investors to look overseas. However, a number of overseas dealers have been associated with various gold frauds.
• Guaranteed Profits: Like any other tradable commodity, gold prices change continuously throughout its trading hours. Though there may be some broad expectations of trends considering various influencing factors, no one can with certainty predict the future price of gold. Always avoid vendors that guarantee profits.
• Comparisons: There are no fixed rules in the gold market in terms of prices, premium, discounts, shipping charges, and return policies. Therefore, you will do better by shopping around. For instance, if you are selling your gold holdings in the form of jewelry or junk gold, it may not realize over 50-65% of the prevailing spot price. However, it is common for some entities to value it at 40% or less. If you do not research thoroughly, you may end up losing a part of your holding's worth.
The bottom-line is that if you deal with trusted parties research well, you stand a fair chance of increasing your wealth through strategic gold purchases.
Guidelines for Safe Gold Investing
• Background: If you are dealing with a company with an established reputation, you are less likely to get a raw deal. If they have been in business for some time, it indicates that they are authentic dealers. A record of 10 years or more provides reasonable assurance of authenticity. A company operating for over 10 years is considered reasonably safe to deal with.
• Reputation: It is prudent to look for dealers with a high BBB (Better Business Bureau) rating and accreditations, such as PCGS, ANA, and NGS.
• Terms and Conditions: Gold purchases are big enough amounts to call for a careful examination of the vendor's policies and practices. Avoid companies that do not lay out their terms clearly and up front. Pay particular attention to their sales policies, pricing, and shipping charges. This step will eliminate the possibility of bearing hidden charges later. In addition, inquire about the return policy.
• Overseas Transactions: It is always safe to transact with domestic companies or those with existing operations in your country. The convenience of buying online and a host of lucrative deals often prompt investors to look overseas. However, a number of overseas dealers have been associated with various gold frauds.
• Guaranteed Profits: Like any other tradable commodity, gold prices change continuously throughout its trading hours. Though there may be some broad expectations of trends considering various influencing factors, no one can with certainty predict the future price of gold. Always avoid vendors that guarantee profits.
• Comparisons: There are no fixed rules in the gold market in terms of prices, premium, discounts, shipping charges, and return policies. Therefore, you will do better by shopping around. For instance, if you are selling your gold holdings in the form of jewelry or junk gold, it may not realize over 50-65% of the prevailing spot price. However, it is common for some entities to value it at 40% or less. If you do not research thoroughly, you may end up losing a part of your holding's worth.
The bottom-line is that if you deal with trusted parties research well, you stand a fair chance of increasing your wealth through strategic gold purchases.
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