How to Find Gold Wholesale
The price of gold is skyrocketing, and many experts say you may want to get in now before the price is out of reach. Of course, you can look online to buy gold jewelry and try to find wholesale prices, but that's not necessary when it is the actual gold itself and not the jewelry that you want. You will want to buy gold as close to the spot price as possible, which is rather easy to do if you take the time to look.
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Instructions
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Find out the spot price, or wholesale price, of gold. If you want to get gold at the best price, first you must know at what price gold is currently trading. To get the current price, known as the spot price, go to Kitco at www.kitco.com and click on "ALL METAL QUOTES." You can also find the current gold price at www.goldprice.org.
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Navigate to an online marketplace such as eBay at www.ebay.com and enter "gold" in the search field, then click "go."
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At the next page on eBay, click on "Coins & Paper Money." This screen will take you to the marketplace for gold coins and bars, which is where you will try to find prices that are near the spot price for gold.
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Navigate back to Kitco if you are not satisfied with the prices you find at eBay. At Kitco, you can buy gold coins and bars that are fairly close to spot, and the more you purchase, the less premium you have to pay. Gold Price also offers links to gold dealers as well as information about different gold coins, where to buy gold, and how to invest in gold.
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Tips & Warnings
There are many arguments about why an investor should include gold in his portfolio and many differences of opinion about what percentage of a portfolio should be allocated to gold. Some experts say that gold is a hedge against inflation while others say it is a hedge against loss of confidence in the government. As for the portfolio percentage an investor should allocate to gold, that ranges from a few percent to a majority of the portfolio in the context of the current political and economic environment. One main reason for owning gold is that it never becomes worthless, unlike paper currencies.
Only buy gold from reputable dealers and people you feel you can trust. The last thing you want is a bar of tungsten that you believed was gold. It was reported in 2008 that the central bank of Ethiopia had fake gold bars in its vaults, and gold-plated tungsten-filled bars also turned up in Germany. This is why it is important to know from whom you are buying your gold.
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