‘Where do I start?’, is often the first question people ask when it comes to buying gold.
Beginning your precious metal investing journey can feel overwhelming.
Not only is it about adapting to a new mindset (swapping those zeros in your bank account for something tangible), but what to put said dollars in? How much should you buy? Big bars or small bars? Coins? Do you do it all at once or build your positions slowly over time?
The answer to many of these questions, depends on you and your investment profile. So, before you commit any money to precious metals think about what kind of investor you are.
Treat any investment in bullion as a multiyear investment. Don’t forget that physical bullion products come with a premium (that is, the fabrication cost on top of the spot price), so frequent buying and selling of physical metals may not be the best option for you.
Furthermore, don’t become obsessed with the daily prices of gold or silver. Remember, investing in precious metals is about long-term wealth protection.