Today everyone is looking for ways to make their hard earned money go further. Many will put their funds into bank or savings accounts that boast a high rate of interest. Others will play the stock market in the hope that they make a wise investment. Some will choose to invest in gold or silver, something which is becoming more and more popular.
Gold and silver are both precious metals and are known for their value, but for many this topic of investment can be confusing. This brings us to ask the question “is gold and silver a good investment?” Let’s take a look.
Is Gold Still a Good Investment?
You might have seen that there has been debate over the years about the price of gold rising and falling. One good way to understand the investment that gold could represent to you is to look at how its price has risen and fallen over the past 14 years. In fact the price of gold has gone from $265 per ounce to $1850 per ounce with minor dips over this time period. While there have been several dips in price, the one fact that stands out above all others is that the price of gold has continued to rise.
To find out if gold is a good investment right now you need to check out a good gold investment calculator. This will give you up to date information on gold investments 2014. With this information you can decide if and how much you want to spend on gold.
Why Invest in Gold or Silver?
- Both metals are very easy to store and transport. However, you will find that as the cost per ounce of gold is much higher than silver, it is possible to ship more dollars worth of gold in the same sized package. With this in mind you will not have to find as much storage space for gold as you would silver.
- Gold is much denser than silver. This means that even if you are buying an equal volume of either metal the gold will be worth much more.
- Anyone who is interested in gold vs silver investment will tell you that both are seen as a commodity the world over. Some people will even use them as a form of currency.
- If you are thinking of investing in gold and silver you will always have a large market to sell them on when the time is right. They are both liquid assets which sell well, although as mentioned, gold will always be worth more than silver.
- It is possible to invest in gold or silver in 2014 by purchasing either metal online.
- You will get a much better return on your investment when compared with the interest you would get from a bank account, particularly when you take into account the rise of inflation.
Which is the Best Investment?
When it comes to gold vs silver investment you will want to take into account the fact that both silver and gold have continued to increase in price over the past 14 years. The sales prices for silver show that it has increased from $5 per ounce to $45 in just over a decade. While this is not the same increase as gold, it is still impressive. Gold has always been more expensive than silver, but this fact does not make silver any less of an investment.
To work out which is the better investment gold or silver you need to look at the markup price.
Markup on Gold and Silver
You should always pay attention to the markup on gold and silver when you are making your purchase. In most cases you will find that the markup on silver is less than gold, which means you need to think about how much you want to spend.
In clear terms if you plan on spending less than $1500 you could be better off opting for silver as the markup is usually around 6.7%. The markup on gold for this amount is around 7.15% – however, be aware that these prices can fluctuate. If you are spending more than $15,000 your money will go further if you buy gold. You will find the markup on this amount is around 3.5%, the markup on silver would be around 5.5%.
Where to Buy Gold and Silver
Now that you have a better idea about gold investing 2014 and the cost of silver you need to know how to invest in silver or gold. The best and easiest way to do this is through an online Gold IRA provider. Regal Assets are experts in the field of Gold IRA (Individual Retirement Accounts) which means when you buy from them you are creating your own retirement fund.
On their site you can see the current prices and they will show you how to invest in gold and silver. They will take the hassle out of buying gold and silver, leaving you with the peace of mind of knowing that you have financially secured your future.