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Of all the precious metals, gold is perhaps one of the most widely known. Throughout everyday life, we see examples of people assimilating the idea that gold is tied to wealth. However, precious metals investors know that owning gold can go much further than just having a gold watch or a gold chain. Investors who choose to add this rare, beautiful metal to their portfolio understand not just the value of its popularity, but also its value as an investment.
If you look up, "what is gold," you’ll most likely get technical answers that explain how it’s atomic number is 79 or that it’s a yellow precious metal. However, you will also find that it is mentioned as a commodity used to back the value of a currency. This, along with various other reasons are why investors look to add gold to their portfolios.
Gold is unique. When we think of gold we often have thoughts of rare metals, beautiful jewelry, and of course, money. The remarkable thing about gold is that it can be all those things, and so much more.
For thousands of years, gold has been used by civilizations around the world for a variety of reasons. Everything from adornments used in ancient Egypt, to modern day investors and central banks looking to add diversification to their portfolio.
Much of the value that comes from gold is due to the scarcity of the metal. Research suggests that if you added up the world’s holdings of gold throughout all of history, you would only get about 120,000 metric tons. And to understand how gold is still scarce today, consider that every year the world’s supply of gold increases 2,000 tons, in contrast to American steel which increases an average of 10,500 tons per hour!
Because of gold’s dynamic nature, investors place a value on gold for different reasons. Some will see gold and think of the scarcity, some will think of its ability to be traded, others will think about it’s potential as a safe haven investment, no matter the reason, investors will often look to gold when they are looking for an investment in precious metals.
From the first gold coins used as money at around 700 BC to modern day central banks and governments hoarding it, gold has had an eventful history. Below are just a few of the key dates and events in the history of gold in America:
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Gold offers many of the benefits that come with owning physical precious metals such as portfolio diversification, high liquidity, a potential hedge against inflation, and more.
Investing in gold also means you are investing in a metal that is used on a global scale. Gold is traded in global markets from New York to Hong Kong to Zurich. Almost every major government in the world holds a certain amount of gold as a vital reserve asset.
As far as benefits go, this simply scratches the surface as to why gold is not just a powerful commodity to invest in, but also popular around the entire globe.
Like other precious metals, the value of gold products such as gold coins and gold bullion fluctuates throughout the day and reacts to economic events which may occur.
The price of gold is specifically affected by the relationship between the amount of buyers and the number of sellers. In the U.S. often times dollar-denominated commodities go up in value when the dollar goes down and it takes more dollars to buy the commodity.
The many advantages of owning physical gold give you good reasons to invest in either gold bars or gold coins.
Bars are often bought by investors who are looking for storage and while the convenience of taking delivery of gold coins often makes investors more prone to go with that option, you still have the option of storage with either gold coins or gold bullion.
An investor who is looking for a convenient way to take delivery of gold bullion will often acquire a 10 ounce gold bullion bar. Or acquire 10 ounces of gold coins.
Ultimately, the choice is yours and our inventory here at Monex allows you to invest in precious metals many different ways.
Are you interested in getting started? Give Monex a call at 1-800-444-8317 and speak with an Account Representative who can talk to you more about investing in gold.
When you call, you can ask questions about investing in precious metals and learn about the benefits that an investment in gold could add to a traditional investment portfolio.