You can buy gold per gram, kilogram, lbs, and ounce. The following are the prices of gold:
Price of gold per lbs – $ 26103. 83
Price of gold per ounce – $ 1790.00
Price of gold per gram – $ 57.55
Price of gold per kilogram – $ 57548.50
Investing in gold can be such a challenging task because of the ever-fluctuating gold prices. The demand and supply factors will influence the variations of the gold prices over time. With the value and the multiple uses of gold, investing in gold can have the best returns.
What is gold?
Gold is a shiny, soft, and yellow metal most people have valued most for a long time. Among the other metal, gold is the most ductile and malleable metal. Additionally, gold is the best conductor of electricity and light. Due to these properties and their value, people have used gold from ancient days for various purposes. Even currently, the use of gold is gradually increasing. Gold tends to have a higher cost while purchasing because of its scarcity and the value it holds.
Uses of gold
Gold has been admired and used by various people in many ways since ancient days. Due to the multiple properties, including; extremely ductile, ability to conduct electricity, and can blend well with the other metals. These properties make it most useful in various industries and places. Thus, in different sectors and industries, gold can be used in the following sectors:
1. Investing and finances
Many governments and people have used gold as a currency for quite some time because gold has a high return value. Currently, investors feel buying gold bars is the safest asset to invest in to reap massive returns. Thus, using gold in various transactions and investment plans has helped the valuable metal gain popularity. Making a lot of people buy gold coins, bars, or bullions as an investment practice.
2. Medicine and dentistry
Because gold can take any shape easily and is ductile, thus health experts use it in the dental unit for filling crowns, bridges, and cavities. Additionally, gold is chemically inert; therefore, it won’t easily react when any metals the procedure may be using. Thus, cases of allergic reactions are very few for processes involving the use of gold. Lastly, dentists have used gold to repair and replace either broken or missing teeth.
3. Electronic and computer appliances
When it comes to electricity conduction, gold is one of the top metals. It has the ability even to carry the little electricity charges. Thus, companies put gold a small portion in the various appliances like radios, mobile phones, and television sets because of this property. Most companies manufacturing laptops and computers use small bits of gold to help transfer the data quickly.
4. Statues and medals
Worldwide, gold is considered a precious metal, and many people honor anything made from gold. Most popular awards for either sports, championships, or other competitions will come from gold. In some religions, they use gold to make their statues and idols. This is because gold is beautiful and can also signify the wealth the particular group has.
Most percentages of the gold in the world people acquire through jewelry. According to the records, over 80% of the gold companies usually convert the gold into various jewelry. Gold provides shiny and more durable characteristics necessary for jewelry. Thus, most people use it to make bangles, rings, necklaces, and other jewelry.
6. Celebrate wealth – by eating it.
Where can you get the gold to invest?
Investing in gold can be such a daunting task, especially if you want to start investments. You can either get gold from online bonds or interacting with dealers physically to purchase the gold. You can choose to get your gold from the following sources:
1. Gold bullion
Most people think that investing in gold need a big and large amount of gold. You can opt for the gold bullion, which come in the form of bars. These gold bars are ranging from a few grams up to 400 ounces. You can get the gold bar depending on the amount of money you want to invest. If you don’t have enough money for the expensive gold bullion, you can opt for insurance from a reputable dealer to get the bullion. When you choose the gold bullion, you need to keep up to date with the updated prices.
2. Gold coins
There are various coins available for investing, the common one being the south African kriggerrands and Canadian maple leaf’s collectible coins. You may also find good gold coins deals from the local pawn shops or collectors. When you find a reputable and licensed dealer, they may provide a safer option.
3. Gold jewelry
You can also invest in the gold you can wear; however, this gold comes with many risks. You can choose to buy gold in the form of bangles, necklaces, and even necklaces. However, investing in gold jewelry carries many risks, like the second-hand jewelry you may get may not contain the necessary documentation for the gold.
4. You also get from the gold miners
The most straightforward way of purchasing gold is investing directly in the various companies which mine and refines gold. Thus you need to have a brokerage account for you to get this gold. Some of the most popular stock companies you can invest in are Newmont, operating in South and North America, Barrick Gold in Toronto, and Franco-Nevada, which buys the gold from other gold miners.
You need to know the changes in the prices of gold. The prices vary from time to time due to either the supply or demand of the gold.