Personal finance

How To Buy Gold | Personal finance

In the United States, COMEX is the main exchange for gold futures and therefore the place where the most widely quoted gold prices are set. The London Bullion Market Association also provides a twice-daily “fixed” price used as a benchmark for major market players.

In general, look for what is known as the ‘spot price’, which is the price at which buyers and sellers are willing to trade gold today, as opposed to a future date ( specified in the futures contract of a certain month).

Is gold a good investment?

Gold is considered a means of inflation hedge and can be used to diversify your portfolio. It’s also a very liquid asset, so you’ll be able to find a buyer for your gold when you need to sell.

However, don’t expect to get as high returns with gold as with an asset like stocks.

Where can I buy gold?

You can buy physical gold from retailers like JM Bullion and APMEX, as well as pawn shops and jewelry stores.

You can buy gold-backed securities through your typical broker, such as Fidelity or Charles Schwab.

Do we have to pay taxes on gold?

Profits from trading in securities such as stocks and bonds are called capital gains and are taxed at special long and short-term capital gains rates. But the IRS looks at the profits you earn from trading gold and other “collectibles” differently.

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