You don’t have to be an expert to start investing in gold. Whether you’re interested in gold jewelry or gold bullion bars, getting started can be simple and straightforward. To help you feel confident in your first purchase, we’ve put together an easy-to-understand list of important things to know before buying gold. This guide will walk you through the basics so you can make smart choices and begin building your gold investment portfolio with confidence.
Being a smart investor means getting the most value from the gold bars and jewelry you buy. To help you make the best choices, here are three simple tips to guide you as you add gold to your investment portfolio.
- Ensure authenticity
If you want to be a smart and trustworthy gold investor, it’s important to know how to tell real gold from fake. Cebuana Lhuillier is proud to offer only genuine minted gold bars—the first dealer in the Philippines to do so. But to help you feel confident when buying gold anywhere, here are some simple ways to check authenticity: Real gold is not attracted to magnets, it sinks in water instead of floating, and it produces a high-pitched ringing sound when tapped. By knowing these easy tests, you’ll protect your investment and build a truly valuable gold portfolio.
- Know your dealers
Gold is a commodity that, unfortunately, attracts scammers and tricksters. How do you know if your dealer is legitimate? Deal only with organizations or companues that are government-recognized and follow a strict code of ethics.
- Verify prices
When you invest in gold by purchasing a gold bullion bar or a piece of jewelry, you will most likely pay a premium on top of the product’s going price. The premiums depend on many factors, such as weight and purity. Since gold’s value tends to grow over time, it’s important to watch the market and keep and eye on prices to make sure you’re never paying more than you have to.
Start your gold investment journey and shop gold bars here.