Gold is a solid investment that doesn't face the same volatility as stocks and other trading assets. Besides, many investors want to hold on to physical assets in the age of digital crypto coins.
However, our options are limited regarding physical assets that can be held. This is where gold steps in as a reliable investment that retains value amidst every market.
Interestingly, there’s more to it! Continue reading to learn more about gold as an investment in Canada.
Why Purchase Gold For The Long Term?
Gold is the one thing that is true and doesn't change. Due to this, savvy consumers choose gold over all other commodities when it comes to being frugal and conserving money.
Many people enjoy investing in designer gold jewelry, but the best thing you can do for yourself is to buy gold bars in Canada.
And why? Because you don't want to sell your gold and lose a lot of money. Due to the jewelers' frequent inclusion of extra charges, including manufacture and overhead expenditures, purchasing gold jewelry is sometimes more expensive than doing so when purchasing gold bars in Canada.
Interestingly, there’s more to purchasing gold than we know. So continue reading as we explore the different factors for purchasing gold bars in Canada.
Factors To Keep In Mind While Purchasing Gold Bars
Where To Store?
Interested parties should also consider how they want to keep their gold bars. Even though gold bars may be stored in a safe at home, many investors store their gold with a custodian or safe deposit box. Although these services are often paid for, they offer more protection than a home safe.
Is It Insured?
If you keep gold at home, consider getting insurance. You might not be able to get your gold back in the event of theft, floods, or other catastrophes. Additionally, it should be noted that safe deposits aren’t federally insured in comparison to a bank savings account.
How Pure Is The Gold Bar?
Investment-grade bars should contain at least 99.5% (995) pure gold. The remaining portion is an alloy, often silver or copper, which enables smelting.
People who buy gold bars in Canada as an investment should only buy a bar with the manufacturer's name, purity, and weight, typically represented as 99.99%. So, for instance, the next time you purchase these bars, go for names like Valcambi, The Royal Canadian Mint, or Perth Mint.
Size Of The Product
When purchasing gold bars, purchasers should consider how simple it will be to sell them. For instance, if gold sells for $1,400 per ounce and a buyer has $14,000 to spend on gold bullion, buying 10 bars, each weighing one ounce, is typically preferable to buying a single 10-ounce bar since it will be simpler to sell the gold later on.
They can sell the 1-ounce bars one at a time as required, but it could be more challenging to find a buyer if they need to sell the 10-ounce bar immediately. In contrast, investors occasionally save money to purchase gold bars of a larger size due to the diminutive size of -gram gold bars.
Now You Know
This brings us to the end of our article on the different factors to consider while buying gold bars for sale in Toronto as an investment. Remember, when purchasing gold, you must ensure it’s purchased via genuine and authorized sellers. All the best!
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