WHY GOLD IS KNOWN AS KING OF METALS?

GOLD IS KNOWN AS KING OF METALS

Gold with its brilliant shiny glow colour is one of the most precious minerals mined from the earth and is always in high demand due to its monetary value and usefulness. Gold – The king of metals attracts everybody by its charming look and hiking prices.  Since ages of gold has been used as a source of investment for the future. Also gold has the best resale value as compared to diamonds and solitaires. 

1. TRADING IN GOLD

Gold has been the most stable and long-standing medium of exchange and has a lot of profit potential.  Gold is often traded when one requires cash. There are innumerable options to get cash for gold near you.  Gold is an all-time high metal. Getting local cash for gold near me is not difficult but making sure that you don’t get cheated is a little tough.  So when you go to encash your gold make sure you know the prices. Gold retains its value that is why people buy gold as long term investment. Three factors decide the value of your gold:-

  1. Purity in karats
  2. weight in grams
  3. the gold spot price

You can find a number of gold buyers near you but finding someone genuine is a complicated task. If you can find the right place to sell your old gold you might end up getting the best value for it.  

Gold is also traded in the stock market throughout the globe based on the intraday spot price. There are various forms through which we can invest in gold such as bars, coins, gold rounds, exchange-traded products, certificates, etc. The most common one being the Gold jewellery. In case of harsh times, you can easily put the king of metals lying in the lockers at work. Yes, it is easy to sell my gold these days. Selling gold is a better option than indulging in loans.

2. SELLING GOLD

Selling old gold for cash is an old tradition in India. The gold prices usually hike daily thus people end up getting more money then what they invested years ago. The jewel smiths or craftsmen also deduct some amount as wastage charges or melting charges resulting in reduced prices. So you must find the right place and the right time to sell old gold. So although gold is the king of metals you have to be very careful while dealing with it.  To get a king price for this king metal, you need to keep a few things ready before going to the goldsmith. 

  1. Make sure you know the rates well before you enter the shop and always watch them weigh your gold.  
  2. Be well aware of the purity of the gold you have.
  3. Original bill or invoice  

If there are more where to sell gold in Ghaziabad you can reap higher cash for gold.  The more the competition in the area, the higher the prices will be offered to you. Visit all the shops near you and try to find how much more than the spot price is being offered and by whom.  Before going out to sell gold do thorough research on Gold buyer in Gurgaon to know the prices being offered and also to search the places accepting gold for hard cash.ss

3. GOLD AS AN INVESTMENT

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Other than gold jewellery gold bullions and coins are also considered a safe investment option. Gold forms a part of a diversified portfolio and acts as a hedge against a falling stock market. It is considered a durable source of value, unlike diamond and solitaire which have very little resale value.

Buying bullions and coins also involve a little number of costs such as insurance costs and storage costs also it may carry worries regarding authenticity and purity. But you can still let go of these worries and buy a chunk of gold through investing in exchange-traded funds.

As to compare gold with stocks and bonds, it has always outperformed them. Over the past 30 years, the price of gold has approximately increased by   280%. But again before investment, various factors have to be considered such as the time frame of the investment, the current market conditions, and the expected market conditions.

4. FLEXIBILITY OF KING GOLD

Gold can be sold in any shape or size, may it be broken, tangles, mismatched, or whatever. Gold is the king of metals and will always be worthy of money. Gold is gold and can be sold even in its worst shape. This the best qualities of gold that makes it the king of metals- It can always be melted down and reused in any form you want. Due to this quality gold is able to retain its resale value. 

5. GLOBAL IMPORTANCE OF GOLD

The economies of the world have been placed based on the value of gold, expressing its worth. Gold is the metal we can rely upon when currencies don’t work. It provides you with insurance for the tough times. It also hedges you against inflation as its prices increase with the cost of living. People trust in gold when their local currency collapses.  

Demand for gold has also increased among investors resulting in emerging markets for gold. India is one of the largest gold consuming nations as gold finds its various uses in India. It is intertwined into the Indian culture in the form of jewellery. Gold jewellery can be found in every Indian home and is considered as a necessity.  It has become a must-have party accessory to primarily all Indian functions and gatherings.

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