Why you should invest in gold in 2023?
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Gold can be refined from a variety of by-products such as computer parts, electronics, jewelry, and dental work. With the price of gold per gram at its lowest level in a long time, it can be very profitable to extract the gold from these scraps, refine them and hold them as an investment until the price rises again.
Gold is at an all-time low per gram in the UK but is on its way up
If your business is in an industry that uses gold and you have some scrap to refinish, you may be sitting on a small pot of cash.
Gold bullion offers distinct advantages that cannot be found in the majority of other investments. These advantages give you strength as an investor and one of the reasons is that the price is set to skyrocket.
Even if gold is no longer used as money, it acts as a long-term store of value - like money. Gold fulfills this promise better than any other currency.
Gold can also be considered a long-term investment with the potential to reap huge profits when prices go up - and with the unpredictable financial situation around the world, this can happen at any time.
Even if the price of gold fluctuates, its value remains timeless. By their very nature, all fiat currencies lose value over time - instead gold will maintain your purchasing power.
How can investing in gold create security?
It is easy to sell gold, it is liquid and portable.
Holding gold as an alternative financial asset is often seen as a type of protection, a safe haven, that can be very useful in response to an impending crash or downward spiral of the economy.
Gold is also a mainstay, and while other assets may decline in value during economic downturns, gold does not lose its luster or value in this regard.
It also works very well against inflation. When the cost of living goes up, the price of gold goes up. It becomes more attractive to investors because of this.
Read also: 10 Essential Financial Skills Everyone Should Learn
Gold is low maintenance, easy to store
Since the price of gold has been steadily declining in the UK over the past year (in the UK as well as around the world), this may not be the best time to sell. However, if the need arises, gold is easy to filter. Especially when compared to other assets such as real estate.
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| Reasons to Invest in Gold |
You can check the current gold price per gram here. The price is now much lower than it was in the past. This means that if you are in a position to purchase and refine scrap gold, now is the time to do so. The benefits in the long term are worth it.
When it comes to investments, it's nice to have a diversified portfolio, and looking at the stats under gold is still a solid investment.
- The '70s were great for gold, but bad for stocks.
- The 80s and 90s were great for stocks, but bad for gold.
- 2008 saw a significant drop in inventories as consumers migrated to gold.
Be sure to choose a gold refining expert, who can assess the value of your gold scrap and take care of the entire refining process, providing a no-obligation calibration and calibration service. They should also be able to advise you on manufacturing procedures that can result in valuable scrap of precious metals.