Gold’s value changes often, but always goes up. In the case of precious metals such as gold, a market for buyers will always exist. Frequently hard times accompany a rise in the price of gold. Read on to understand how to take advantage of this metal’s place in the market.

Bullion bars are a great way to invest in gold. There is a great variety of different weights. You can find them from a half ounce all the way up to four-hundred ounce bars. However, you may have a hard time locating bars that weigh four hundred ounces.

Understand the spot price of gold before selling any. Pieces with differing karat values are worth different amounts, and should be weighed separately for selling. A designer piece, however, shouldn’t be sold because the item as a whole could be worth more than just the gold.

You should think about scrap metal if you want to invest in gold without hitting the markets. Invest small amounts of money in scrap gold. After a few months, you will have accrued a significant store of gold. Make sure you keep the gold secured. A safety deposit box is a good place.

Spot Price

It’s always a good idea to verify the spot price before making a purchase the same day. Many websites update this information daily. Only place your order if you can find a dealer willing to sell for an 8% markup or less over the spot price. Many times sellers will try to sell it at a higher price.

While gold buying can be fun, don’t tell everyone about it. This is because you never truly know who may be listening. Make sure you keep your gold investments to yourself and protect them by storing them in a local bank safe deposit box. This keeps your gold hidden and secure, as it is a very valuable investment you want to protect.

Don’t ignore thrift stores and antique shops when searching for gold deals. If you know what you are looking for, there are bargains to be found in such places. Often people do not realize the value of old jewelry and simply donate it or put it in a garage sale. Their loss can be your gain.

Be fully aware of what you have. Not everything is worth what you think it’s worth. It’s not uncommon to find gold that has been mixed in with other, lesser metals. This reduces its price though. This also applies to gold plated items. Have your pieces appraised before sale to determine their value.

Look into market prices of gold before selling it. You should shop around to get an idea of what others are offering for similar gold pieces. This will give you a price point to work with. Just make sure to go a little higher than what you actually want so that there is wiggle room for negotiation.

You should note that even if a whole piece of jewelry is not solid gold, the backs of earrings or clasps may be. Clasps of necklaces and ring bands are often real gold as well. In these instances, it’s best to sell the gold parts in a lot. A lot is a collection of separate pieces weighed and sold together; selling off jewelry in lots is often the best way to get maximum value.

Gold Market

As you likely know, our economic system weighs itself against gold. What that means is that you need to understand how the price of gold changes and how to leverage the gold market to meet your particular needs. Use this information to get a strong hold of the gold market.