Currently, there are many private channels that bring high profits such as Bitcoin, Securities or real estate investment. However, there are many people who still choose to buy Gold to accumulate savings for themselves. And there were a lot of people asking questions Should I buy 1 gold coin every month? to save or not? Should buy gold or invest in other fields to get the highest profit.
In the following content Giabachomnay24h.com will share experiences on investing in Gold.
Understand the value of Gold?
Throughout history Gold has always been used as the currency most used by many countries. Gold is not the rarest metal though. But gold soon took on an important role in the payment and commodity exchange system.
In this day and age, gold is no longer considered a currency. However, gold has not lost its value, even being used in some barter transactions. And gold plays a very important role in the economy of a country and the world.
So why is gold so valuable? To answer this question, here are some key reasons:
- Gold has a beautiful aesthetic when making jewelry, is popular with many people, so it makes Gold more precious and valuable.
- Gold is highly valued for its uniformity in quality and is not subject to corrosion. Gold is hard to fake and can preserve its value for a long time. Therefore, gold is considered a measure of value.
Is gold easy to liquidate?
Should we buy 1 gold per month, we have to consider the liquidity factor. Because the main purpose is to later sell gold to make a profit on the difference between buying and selling. If it is difficult to liquidate, then gold is definitely worthless.
For every form of savings today. Perhaps the easiest form of investment to save gold is to pay off and always carry the least amount of risk.
Previously, in the market, customers often chose small gold shops. These shops sell gold that is often non-origin, provenance and unbranded. These types of gold will not be guaranteed according to international quality regulations. So when selling will face many difficulties and often lose value.
However, recently the market has tightened to this issue. Currently, gold is often tested according to international quality, blistered and clearly marked on gold. These types of gold come from big brands such as SJC, Bao tin minh Chau, PNJ, etc. Since then, gold has preserved its value and is much more liquid.
Does the gold resell at a loss?
Whether the resale of gold is at a loss or not is determined by many factors. If you buy gold and sell it at the same time at the same price, it will definitely depreciate about 3-5% compared to when you bought it. However, saying that is not to say that buying gold and selling it again will make an error.
The loss or profit depends on the gold price market at the moment compared to when you bought it. If the price of gold is lower than when you bought it and you sell it, you will definitely lose, but if the price is higher, you will make a profit.
Currently, in the gold market, the price of gold fluctuates up and down erratically. Especially in the current COVID-19 period, the price of gold will change day by day. Therefore, to know exactly, you should regularly monitor the gold rate at the current time, then make a decision to sell.
Should I buy 1 gold thread every month?
As the above section has a brief introduction to Gold, this is a metal of high value and is often used to accumulate self-defense. Currently, not only people but even the government are always hoarding gold. Because gold does not depreciate like USD or other metals.
However, it is not for that reason that you choose to buy only 1 gold per month. Whether to buy 1 gold only every month will depend on each person's conditions and thoughts. You should only buy gold to accumulate when.
- The price of gold at the moment is falling, absolutely should not buy gold when the price is high. If you buy gold, you will definitely lose money later.
- Having a stable source of income to always maintain the monthly amount to buy 1 gold thread.
- You are someone who doesn't know how to trade or invest. Instead of depositing in a bank, it is better to choose to buy gold.
- Investing in gold is a long-term goal, so it requires perseverance and determination.
- Do not worry when the price of gold drops or rush to sell when the price of gold rises. Only sell when absolutely necessary.
Experience of buying 1 Gold only per month
Myself and my current wife are also making a plan every month to make some money and buy 1 gold coin to save for later. Because gold has value and is not easily depreciated, I chose instead of other forms of investment. Here, I would like to share some of my own experiences with those of you who are thinking the same thing as me.
Choose the time when the price of gold drops
As you know, the price of Gold increases and decreases erratically according to the economic market of Vietnam and the world. Each row has a series of events that can cause fluctuations in the price of gold. For example, on February 25, 2022, Russia attacked Ukraine, causing the world gold price to increase slightly. But in the Vietnamese market, one day the price of gold increased to 3 million dong. From 64 million/tael up to 67 million/tael.
If we buy gold now, we will definitely lose. Therefore, when buying you need to choose the appropriate time when the price is falling. Do not be too rigid when you have to buy 1 thread every month. Instead, you can wait for the price of gold to fall and then buy back the months you haven't bought yet. Thus, the rate of capital loss will be much lower.
Accumulate savings as soon as possible
Perhaps I am a person with a strong mentality, and I am very worried about my children's finances in the future. So I have motivated myself to live frugally and save as much as I can.
Instead of owning new phones and expensive motorbikes, I choose to live just enough. Just enough here is not a luxury, nor is it a luxury. As long as you balance these two factors, you will always save a certain amount every month. After a while, when you look back, you will surely be surprised by what you have done.
Creating a habit
The goal of buying 1 gold per month is not a day or two. But this is a long-term plan that even takes a lifetime to implement. Therefore, you yourself need to create a habit of doing exactly what the goal has set. Otherwise, we will very quickly get bored and give up on this plan.
Always remind yourself to strive for the set goal. This will be the motivation to help you live frugally and accumulate assets as expected.
Here are some personal opinions on the question Should I buy 1 gold coin every month? are not. In my opinion, you should buy, but you should consider the current market, not blindly invest.
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