• Manage your risk by becoming informed. A lot of
first-time precious metals investors looking for tips for investing in gold
forget the most obvious rule of investing in anything: the more you know, the
better off you are.
If you're going to take the step of
adding bullion to your investment portfolio, lean about what you're buying so
you don't pay more than you need to -- and know what signs to look for to warn
you if the market is likely to shift out of your favor.
• Deal with professionals. There's nothing
more important in any precious metals or bullion coin transaction than the
trust of the parties you're buying from -- and, eventually, selling to.
The dealer you're working with should
have extensive experience working with bullion (check around), and should
belong to the appropriate industry trade groups to ensure a rigid code of
ethical behavior.
• Go slowly. There are sharks
in every industry, people who will attempt to persuade you that there is no
time to perform due diligence, that you must make the deal right there, right
now.
Walk away from dealers who cold-call you,
set up meetings in places like libraries or hotels, or who warn you their deals
won't be there tomorrow. Buying or selling on impulse is the worst investment
move you can make, and buying or selling gold bullion is no different; take
your time, investigate the deal and the dealer until you feel completely
comfortable with every aspect.
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