Gold investment – Working overseas isn’t a permanent source of income, not to mention the possible economic issues that may affect the currency. This is the reason why OFWs should consider putting their money in any form of investment rather than spending it unwisely.
Gold is a good investment to consider because you can use it during financial urgency. It’s because the monetary value of this precious metal doesn’t easily depreciate. You can sell or pawned it to use the money if you need to.
Unlike other investment, gold is not affected by the economic inflation or deflation. If you’re an OFW or anyone in the family is working overseas, try to check this post and learn how to invest in gold.
Read also: Smart Investments for OFW
Tips in Gold Investment
- Purchase gold bullions
If you prefer long-term investment, the best option is to buy gold bullions. This gives you the advantage of owning the gold directly. You can buy from private sellers, from government mints, precious metals specialists, and coin dealers.
- Gold mining stocks
Investing in gold mining stocks can make you money because they’re active businesses. However, before you engage in gold mining stocks you need to learn first the basic of stock investing. You can learn from online courses or free lectures.
- Purchase shares from gold streaming companies
Gold streaming companies are the financiers of gold mining companies. The good thing about investing in gold streaming companies is that you can have better prices of gold and at the same time earn income from the gold production share. Some of the gold streaming companies to consider include Franco Nevada and Royal Gold. All you have to do is to identify which one will work best for you.
Prior of investing in gold, you must assess your options beforehand. Identify your purpose why you want to invest in this precious metal. Whatever purpose you may have, you should think about the primary considerations such as the costs (recurring annual fees and upfront fees), counter party risks, and proximity of assets.
Gold related investments are solid choices because of its stability even during economic uncertainty and global geopolitical instability. But, investors must pay attention on their portfolios holistically. By investing in gold correctly you can diversify your investment portfolio.