Gold is still a favorite investment asset for investors. The reason is, gold investment has advantages in terms of value which is relatively more stable, yields are quite tempting, minimal risk, and easy to cash out.
Currently, the price of gold is having the upper hand. In the range of Rp. 1 million per gram. Even so, it does not mean carelessly in investing. One wrong step, you are the one who loses.
From Cermati.com, here are some gold investment mistakes that you should avoid in order to gain profits, not losses:
1. Not following the development of gold prices
Just like stocks, gold investments also need to be continuously monitored. Especially the development of gold prices from time to time. For example, world gold prices, movements in the rupiah and US dollar exchange rates. Because these two things are factors that affect the price of gold in the country.
Gold prices are also influenced by investor demand as well as economic, social and political conditions in a country. You can monitor the development of gold prices via the internet. So, no need to bother coming directly to the store or gold outlet to check the price.
If the gold price is high, you can sell it to make a profit. But you don’t need all of them. The rest can be held (not sold) in anticipation of price increases at a later time.
2. Not detecting the authenticity of gold
Be careful when buying gold. Currently, there are criminals who practice gold counterfeiting with the aim of making big profits. Moreover, the price of gold is soaring.
The crime mode of counterfeiting gold is usually gilding silver with gold plated. This fake gold or KW is then made into jewelry and sold to the public.
So, you have to stay alert. Don’t be fooled into buying fake gold.
3. Do not have a place to store gold
If you collect a lot of gold at home, whether it be gold bars or jewelry, it is very prone to theft. Especially if it is only stored under the pillow, under the bed, or in the wardrobe.
Thieves can easily wipe out all your gold without remaining. Therefore, if you want to invest in gold, make sure you have a gold safe or a special place to store gold with a layered security system.
Want to be safer and less complicated? Just leave your gold to the pawnshop or banking. The cost is quite affordable. At Pawnshops, for example, it is around Rp. 20 thousand per 100 grams of gold.
4. Do not know the purpose of gold investment
Any investment should not be random, including gold investment. Don’t just follow along, without knowing the direction and purpose. Set investment goals. What do you collect gold for? Is it for the cost of getting married, buying a house, the cost of educating children, or others.
Then, determine the need for funds and the investment period. Calculate by making a simulation based on the price of gold per gram. That way, you can know how much money you have to spend every month for gold investment.