Are Gold and Silver investing Worth it?
About two days ago, I went to the jewelery area with a friend of mine to trade her gold. Initially, I was interested in investing gold and silver because people trade it often and we can sell it anytime.However, I have a very superficial knowledge about that investment. So two days ago that was when I started learning more about gold and silver investment. She bought the gold about three years ago in another city thus we were clueless were to sell it. Then, we visited two store that was located in town but apparently they do not accept any gold with only 70%.
Normally every gold store in Indonesia especially in rural area are selling 70% gold with 30% mixture of other materials. However, it's different in urban area. So that got us into a problem finding a right place to sell the 70% gold we had. We didn't stop at those two place, instead we went to visit the hub of jewelry store in the city.
It's interesting that there are individual who will buy your gold for slight lesser or more amount. These individuals are buying the gold to be melted which I assume they will sell it to a bigger vendor then those melted gold will turn into a various jeweleries.
So this is what I noticed with the gold. it weights can shrink and definitely will decrease the price. Or maybe my friend was a lousy bargainer. Then I called up my amom to ask her opinion on gold investment. Initially she said that it's good for emergency investment because one can always sell it anytime and faster however, it might decrease the price. According to her, Gold is meant for a very long term investment. She mentioned that I can not sell it within only 3-4 years it has to be about the 5 years time stamp.
So What Do You Guys Think, are gold and silver can be a worth investment?
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Gold exchange rates are always stable from the days of the pharaoh is still young
If I think gold investment more promising because if one day it could be sold again😄
@anitacarolina :-D haha mungkin iya tapi terkadang harganya jadi turun !
Hehehe ka aku kira kk orng luar ternyata indonesia juga😄
I do think gold and silver has been increasing in value in the last few years, but I haven't really check the price chart.
Either way, I remember reading this a few months ago https://steemit.com/steemsilvergold/@getonthetrain/perform-a-gold-to-silver-swap-to-increase-future-gains
Investing in gold is probably always a good option, but if we are young, it might be better to invest in crypto in my opinion.
@dedicatedguy, I think for me after deciding couple of things, I would pick for gold. Have some grams so in times of need, I can sell them easily. I will check that link though, seems a good read.
@macchiata
Personally, I think that gold is a good investment in the long term, but just as I crypto must first delve into it and learn a lot about it before investing in it.
@jackjohanneshemp, yeah for cryptocurrency it might be for middle term investment but for gold, I agree it's rather a long term investment.
I think investment in both are commodities are okay. Both are considered precious metals and are rare, but I am referring to buying the physical gold or silver, not the investment in a certificate or index fund that is based on the price of each commodity.
@orangila, Yeah, I meant the physical gold and silver. I tried index fund, it was a complicated process for sure and I am not interested. If compared, index fund and cryptocurrency, I will pick cryptocurrency.
index funds for stock market is good, but I don't like index fund that is based on a commodity... the former is transparent while the latter is questionable
I think gold would be better to invest. Gold prices are always good