If you are new to precious metals, here is a proposed starter kit. Follow the steps below to:
- Understand the importance of Gold
- Learn how to buy Gold
- Evaluate how much Gold you need
- Determine the dealers to buy the Gold from
- Stay up to date with the markets
Study the content in the following sections to gain an understanding of how to buy gold. You will learn about the how the gold business works, who is the London Bullion Market Association and why is it important. You will also learn about how to buy gold and silver coins and bars, and which brands (or refineries) you should buy.
Study about hedging. Based on the understanding from hedging assess how much gold you think you will need to protect your wealth.
- Study the article “How much Gold do you need”
- Calculate the amount of Gold you need accordingly
- Decide whether you are going to buy coins or bars or use a third party service provider to buy and store with
- Determine the amount of Gold you intend to buy and whether you will store yourself or use a third party service
Identify and evaluate the dealers that you would consider sourcing from. To limit risk we recommend purchasing only from dealers who are authorised dealers of mints and refineries. Research their spreads, premiums and charges. Once you have selected the dealer, go ahead and make your purchase.
To assist you, study the following:
Monitor the news for threats to your wealth. Threats can come from many sources such as change of government, oil crisis, pandemic, etc. The threats can range from devaluation of your currency, bank failure or even currency reset in the event of government insolvency! Keep up to date through the following suggested news sources: