Tuesday, October 11, 2022

What is the best time to buy gold

 What is the best time to buy gold? What are the factors that affect the price of gold? Gold is one of the most important investments made by humans, as it is an expensive metal and is the only safe source to keep money and even increase it as well, but to be a successful investment, you must make sure to buy it at the right time, and this is what we will learn about through the Seo7u website.

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To ensure the purchase of gold at an appropriate price, you must know the answer to what is the best time to buy gold, as:

For successful investment in a commodity such as gold, you must choose the time when the purchase price is the lowest possible, and the sale takes place when its price increases.

According to historical indicators in the gold buying and selling market, it was found that the price of gold rises significantly at the beginning of each year, specifically in winter in January and February.

Then the price begins to fall during the spring and summer.

It increases again at the end of the year during the fall season.

Thus, we find that the best time to buy gold is in March, April and June.

But this rule is not fixed but it is the most common, some external factors may occur that cause an imbalance in this rule.

It should also be noted that the price of gold in any month is higher than the month preceding it in the same year.

Factors that affect the price of gold

After answering the question of what is the best time to buy gold, we find that there are some factors affecting its price between increase and decrease, as:

It should be noted that gold prices increase monthly over the years, and there is no need to worry if its price drops after purchase, as this may be an indication that it will return to the same price after a little time.

The price is based on some increases and decreases, and with time these increases begin to decrease, which makes some view it as a short-term investment.

Therefore, experts advised to keep gold for at least 6 months, and when selling it, the owner would be able to obtain a profit through it.

Best time to sell gold

It is not preferable to sell gold in the first place as long as the owner does not need money, and when selling it, it must be taken into account that:

The selling price is higher than the purchase price so that the investor does not suffer a loss.

To achieve the maximum benefit, gold should not be sold until at least one year has passed from the date of its purchase.

It is preferable that it not be sold unless the owner needs money when he is going through an economic crisis or leaves work and his low standard of living.

It should also be sold in the event of a stock market crash and high inflation.

Tips to follow when buying or selling gold

There are many tips that must be followed in order for the investor to be able to reap the largest amount of profits, including:

In the beginning, it should be noted that there are 4 different carats of gold, which vary in price and popularity from one country to another.

The higher the gold caliber, the better the investment, due to the lower price of workmanship.

In the event that the material capabilities are available, it is preferable to buy gold bullion because it is without workmanship.

You should look at the gold prices on the global exchange, because it may not be reflected in the gold prices locally until the next day.

It is recommended to take a tour of all the shops selling gold so that the buyer does not fall victim to a scam.

Ensure that an invoice bearing the seal is taken from the seller bearing the details of the sale.

It is not recommended to buy gold containing precious stones.

How to calculate the price of gold in local currency

It is easy to calculate the price of gold in local currency through international prices as follows:

(The price in dollars x the dollar price in relation to the local currency of the country) then divide by 31.10 to give the price of a gram of local gold.

It should also be noted that the goldsmith adds sales tax, stamp duty and workmanship tax for each gram of gold.

Following the previously mentioned tips makes investing in gold easy, guaranteed success, and it is easy to obtain financial gains through it.


 Frequently asked questions and answers

Why is it not preferable to buy gold containing precious stones?

Because it lowers the selling price.

What is the difference between white gold and yellow gold?

There is no difference, but the white gold is plated with platinum to change its color.

Is the price of white gold different from yellow?

There is no difference in price per gram, but the difference is in workmanship.



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