Guiding consumers since 2009

Investing in gold as gold hits record highs

By Staff Writer

Gold is hitting record prices of more than $1220 to the ounce, this works out to around R315 per gram of gold. There are a number of reasons for this but the most likely is that the price is being pushed up as gold is seen as a safe haven investment. Gold being a real tangible thing is a lot stronger during economic crises than paper money. Paper money used to be backed by gold but as that is generally no longer the case the gold itself becomes the safer investment. So how do you invest in gold?

 

 

Investments should be viewed as long term strategies to both grow and protect your assets. If a bank crashes, as happened worldwide this year, gold under the bed won't crash. Gold is also easily tradable so while you should hang on to it, it is very liquid and can easily be sold if you find that you need to get hold of your assets and convert them to cash. Gold was used as a form of cash for centuries and modern sophisticated financial products are not as stable a method of holding on to value as holding gold is.

If you want to invest in goldplan your budget so that you know how much that you can spend on gold and then view that as something to put aside. Gold coins are very popular as they can attain values that are beyond the value of the base metal, especially for special interest collectors. Buying into gold is also an easy way to protect the value of your cash from the ravages of inflation and while the gold price is high now you can be sure that it will remain a safe bet and will not tend to crash out as has happened with the paper economy.

Recent Articles

Featured Fuel rewards programme – how to fill up on petrol and points

South Africa’s volatile economy has often meant that factors like the fuel price bear the brunt. This year alone the country’s fuel price has fluctuated by between R1.50 to almost R3, which has put increasing pressure on motorists. That said, many of the bigger South African brands have provided some relief by way of fuel rewards programmes.

Are you entitled to your spouse’s pension after divorce?

Divorce means more than just parting ways with your partner. It may also involve parting ways with your assets. The Divorce Act states that your retirement fund forms part of your assets. This means that it will be considered when dividing up your assets.

Retrenched – which payments are you entitled to?

In the current struggling economic climate, retrenchments are a regular occurrence and not everyone survives the cut. If you find yourself on the receiving end of retrenchment you may have questions about the payments that are due to you.

Do you want to settle your debt?

You may be considering settling your credit account, whether it’s a credit card or various store accounts, now may be as good a time as any. This especially if you have saved, or you received a tax return or salary bonus. 

Deals

Builders Black Friday Special

Price: R5000
When: Until 29 November 2019
Where: Online

Café Rousse Monday Special

Price: Available on request
When: Mondays
Where: Nationwide

Skye Bar Mojito Special

Price: R55
When: Until 31 December 2019
Where: Johannesburg