Real Cost of Owning Gold

Maybe some of us invest in gold. Most of investor need to own the gold itself for two reason; one is privacy and they don’t want anyone to know they have it and second, because they’re worried the government’s going to confiscate their gold, the world’s coming to an end an you’re going to need gold to barter ( – Peter Hug, director at Kitco Metals).
photo sharing websites

To buy the physical gold, you’ll need to pay more than its market or get the ‘spot’ price. The markup decreases by weight, ranging from as high as 35 percent for a 1/20th of an ounce Gold Maple coin to as low as 0.4 percent for a 400 oz. bar of gold recently at
Transporting gold is not cheap. It need to be insured with the cost depend on the value, destination and weight.The shipping a 1 oz. gold bar from New York to California cost about $30-$50.

Storing gold also high in cost. The cost is about 0.5 percent to 1 percent of the gold’s value per year. The cost include insurance.You also can put the gold in the safe deposit boxes provide by bank.
If you want to store gold at home you need a safe box.
Insuring gold is important because you don’t know about its safety. There’s many insurer covers the gold and charges depending on how secure your house is.
You need an assay/appraisal to verify the genuine of the gold before selling it. The assays costing fee about $100 and could increase depend on the size and value of the collection.
Gold need to be taxes. It depend on the country.

Source :- Bloomberg

There’s about 3-4 points I don’t put in this entry. The thing we can learn is the cost of owning gold not cheap. You must have knowledge before owning the gold. Maybe it could cost more than the price value. If you want to invest in gold, you must read this book

Gold is a valuable metal used mostly in making jewelry. It is also used in
You should consider investing in physical gold and silver. The global financial crisis is very dangerous

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.