The word “gold” for many is associated with jewelry. Purchasing gold rings or earrings are the easiest way to invest in gold. There is no need to talk much about how to do this. You can buy jewelry in a store, and then store them either at home or in a bank. But when buying gold, you must always think in advance how to sell it.
When you need money, gold jewelry, most likely, will have to be handed over to a pawnshop, having received for them perhaps only half the cost, maybe a little more. And so, before giving the last one for a pair of gold earrings, in the hope of saving in this way the savings from inflation, you need to think a hundred times.
How to buy gold bullion
Who did not dream of holding a real gold bar in his hands? This is possible not only in the movies. Gold bullion is sold by banks. Buying gold bullion is one way to invest long term. In addition to gold in banks, you can buy bars of silver, platinum, and palladium.
It is believed that such an investment in precious metals is one of the reliable means of preserving savings. Gold, silver, platinum, and palladium have high liquidity and with rising world prices for precious metals, such an investment can bring additional income.
You can store precious metal bullion at home, which, of course, is dangerous, because they can be stolen. For safer storage, banks offer customers services for the responsible storage of ingots in a bank vault or in an individual safe rented by the bank.
How much does a gold bar cost?
It is quite difficult to name a certain gold rate in UK since the purchase and sale of precious metal is done by banks at their own quotes, which are set several times a day based on a number of parameters: the main one is the price of precious metal on the international market.
Important: when buying bullion you have to pay VAT!
Where to sell gold bullion? But this question can be answered simply – return it to the bank! It is only desirable to keep it in perfect condition and be sure to have a manufacturer’s certificate for it. When selling precious metal bullion in a bank, an identity card will also be required.
How profitable is investing in gold bullion? Banks buy precious metal bullion at the appropriate quotes on the date of the transaction. The benefit depends on the market situation.
How to invest in gold by opening an impersonal metal account
To invest in precious metals, you do not have to buy bullion and coins. There is another, less troublesome option – opening an impersonal metal account.
Anonymized metal accounts (OMS) are bank deposits that differ in that they are valued based on the current value of precious metals. The depositor does not become the real owner of the metal in physical equivalent but buys the precious metal at the bank rate at the time of the transaction, which is credited in grams to the balance of the account. The depositor’s funds are not accounted for in rubles, dollars or euros, but in grams of precious metals (gold, silver, platinum, palladium). Transactions with anonymous metal are not subject to VAT. You will have to pay this tax if the depositor decides to receive precious metal bullion.
Is it profitable to open anonymized metal accounts? This is up to the depositors themselves. By playing on quotations of precious metals, the owner of mandatory medical insurance can earn income in the same way as when playing on the stock market. The 18K gold rate is 28.28 Pounds .the depositor’s savings placed on compulsory medical insurance have increased. But if the precious metal quotes went down, then the money of the depositor on the depersonalized meta account is melting in accordance with the exchange rate.
In addition, it must be remembered that the depersonalized metal accounts of individuals are not subject to the Federal Law of December 23, 2003, No. 177-ФЗ “On Personal Deposit Insurance in Banks of the UK Federation”. The reliability of this investment depends entirely on the reliability of the bank.