Investing In Gold Mining,
Trading, Import And Export Of Gold Bar, Gold Rock And Gold Ore.
If you are looking to
start a business of trading in gold or want to invest in gold buying business,
I have highlighted some steps you need to take to start investing in gold. I
have also discussed investment ideas in gold business which can guarantee you
making huge returns when you start a business of buying and selling gold.
Is Investment In Gold A Good Idea? Many
investors in gold preserve it in form of bullion coins and gold bars. These
materials can be stored for a very long time because of the fact that their
values are not tampered by inflation and recessions.
What Is The Best Way To Invest In Gold? Gold
is often sold in jewellery in alloyed form. Gold content of alloys and jewellery
is measured in carats (k). Pure gold is designated as 24k. The higher the
caratage, the higher the percentage purity of gold in the alloy. As such, the
gold content in 22 carat (k) is greater than that found in 18 carat (k) gold.
Copper, Silver and Palladium are the most common base metals used in alloying
gold. Copper gives the finished product a characteristic reddish colour.
Guide to Investing In Gold: Gold can be found in reserves in different parts of Africa.
You can invest in gold which comes in different forms such as gold bar, gold
dust, gold ore and gold rock. Gold can be found in the Nigeria and Ghana. The
gold deposits are mainly alluvial and are currently being processed on a small
scale and they occur in small quantity that has to be worked on to produce gold
bars.
How To Make Money Buying and Selling Gold: Buying
and selling gold is a lucrative investment that gives great profit. You can
even decide to start your gold business from home so long as you understand the
rudiments and technicalities of the business.
List of Investment Ideas in Gold:
- · Direct ownership: Buying and storing gold is a defensive way of holding value in an asset.
- · Investing gold mutual funds
- · Flipping gold: Buying when price drops and reselling for profit when price rises.
- · Opening a reseller shop: buying second hand used gold jewellery from people and reselling
- · Gold exchange-traded funds (ETFs)
- · Gold mining and sale of raw gold: investing in gold exploration and sale of raw gold bar or dust
- · Opening a goldsmith centre: providing services of gold casting, moulding, purification, production and customization of gold rings, bracelets, neck chains, business cards etc.
10 Steps to Start an Investment in Gold Business
1. Get Your Gold Business Registered: It
is proper to make your gold business legitimate by registering your business
and getting a business name for it. Individuals, corporate organizations and
the government will are more comfortable doing business with you when it is
duly registered.
2. Write A Business Plan For Gold Business: A
business plan will prepare you for challenges involved in gold business and
planning on how to overcome them. The business plan will contain plans on how
to expand this gold investment in the future. Many people ask what amount of
money they need to start a gold business. Well, a well-written business plan
would have answered most of your questions. No serious business survives
without a well detailed and researched business plan. Same goes for gold
business.
3. Research on the Best Type/Form Of Gold To Invest In: Take
your time to carry out extensive market survey and feasibility studies on
different types of gold before you start this investment. These will guide you
into what kind of gold to invest in and where to source for market for gold.
Examples include raw gold dust, gold ore, gold rock, gold bar, old and scrap
gold jewellery, gold foil/leaf business cards, collection of gold-plated
watches etc
4. Get Experience In Gold Value Assessment: Gold
comes in different alloyed forms and weights. It is the responsibility of any
serious investor in gold to be able to evaluate how much gold is contained in a
product and its weight in grams (g) or kilograms (Kg). This is called the
percentage purity and is rated as Caratage. Thus we have very fine gold 24k
(carat) which contains finite to no impurities and 10k (carat) that contains a
higher degree of impurities as base metal.
5. Look for Sources of Gold to Buy at Competitive Price: There
is nothing cheap about gold. If it is cheap, it's most likely to be scam.
Instead of looking for cheap gold to buy, why not get a supplier of gold who
will give you at a price that can guarantee you decent return on your
investment. Your choice of gold seller must be reliable, trusted and delivers
on time.
6. Source for Market for Your Gold Business: Before
starting a gold trading business, do well to conduct specific market survey.
Know who your buyers of gold are, how much of gold you can easily sell off
within a short time and what type of gold these gold buyers are willing to buy.
Partner with other investors to raise enough capital to purchase more KG of
gold and to be able to gather enough money to start wholesale business in gold.
You may also work with gold shops and retailers. Gold is a luxury and not a
necessity so you need to actively look for buyers of gold yourself.
7. Buy Equipment for Gold Business: If
you don't want to be cheated into bankruptcy, it is wise to buy important tools
use in gold business and ensure they are well maintained. Some of this
equipment includes those used in gold smelting, moulding, weighing, testing
etc.
8. Gold Business Promotion: Advertisement
is the soul of business. To succeed in gold business, you need to spread your
reach. If you can afford it, market your gold products and services on TV and
radio as well as in print media. Several online platforms are also available
for affordable advertisement.
9. Monitor Trends in Gold Investment: Demand,
gold use and market price of gold fluctuates. As investor determined
to succeed in gold business, please do well to monitor these changes. For
instance there is significant variation in people's demand and taste for gold jewellery
during different times of the month and year.
10. Secure Your Gold Business: Gold
business is capital intensive. This usually attracts stealing and pilfering. It
is good ideas to maintain high security around your gold business premises.
Installation of tight security iron safe, security doors, electric fencing and
CCTV, as well as the use of security guards is recommended if you can afford
them.
For all Gold Related Businesses Contact us @:
Retson AO Tedheke;
CEO/Managing Director;
Net Allianz Global Resources Limited; RC:696007
+2348055960330; +2348035762726
No comments:
Post a Comment