Many experts agree that investing in gold is a good way to hedge your investments against long-term inflation. Not only is investing in gold a great long-term strategy, but buying and selling gold actively can also produce lucrative short term profits. Opportunities to buy and sell gold are abundant, but many people are finding that one of the best places to look for cheap gold is the Internet. Many investors buy their gold exclusively online, due to the low prices they can find.Step 1:
Watch the market and wait for the ideal conditions. The gold market goes through long-term highs and lows, but within each of these periods, day-to-day price fluctuations can be used to earn profits. Determine what your ideal purchase price will be in order to earn the desired profit when you sell the gold, then wait for the market price to reach that level before you buy. You can find the current gold rates by checking kitco.com or by checking the stock section of your local newspaper.
Step 2:
Consider purchasing bullion from the American Precious Metals Exchange (APMEX). This exchange buys and sells all forms of gold bullion, including coins, bars and ingots. Whether you're looking for American Buffalos, Chinese Pandas or even just 100-ounce gold bars, you can find a large inventory available on this exchange. There is also a large amount of antique gold from around the world, opening up the market to collector-value coins as well.
Step 3:
Buy scrap gold whenever the opportunity presents itself. Online auctions are an excellent place to buy scrap gold. Stay clear of circuit boards and micro chips unless you want to get involved in chemically reclaiming the gold. Focus on old rings, broken earrings, necklaces and similar items. These items can often be purchased at rock-bottom prices, and then sold as melt scrap.
Step 4:
Check online gold marketplaces for people who are looking to offload gold bullion they have been saving. Sometimes people need to liquidate gold to cover unexpected expenses, or in some cases they may have held it so long that a price you consider a steal is actually a nice profit for them. Regardless of the circumstances that have led the sellers to place their gold on the market, there are some great deals that can be found by shopping at online marketplace sites, such as the Bullion Direct Nucleo Exchange.
Tips:
Gold can be either bought and sold daily for short-term profits, or stored until long-term rate changes occur.
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