Gold Cost as of September 30, 2023
At 9:08 am today, the price of an ounce of gold was £1,515.11. That is up 0.01% from the closing price of £1,514.90 yesterday.
The price of gold is down 3.69% from the previous week and 1.15% from one month ago.
A 52-week high of £1,573.28 and a 52-week low of £1,483.29 have been set for the price of gold.
A stock market fund or a commodity like gold are both fundamentally risky investments that put your money at risk. It’s possible that you won’t get all of your money back.
Tips for buying gold
Gold is regarded as the ultimate safe-haven asset by many investors. When the value of stocks, bonds, and real estate drops precipitously, gold may maintain its worth—and even rise as anxious investors race to buy.
You can diversify your investing portfolio by making gold investments. Having a diverse portfolio of assets, including gold, can help you preserve the value of your investments.
Gold investments can be made in a variety of ways. Both are good and bad…
One choice is to purchase gold in its actual form:
bars of gold. Gold bars, also referred to as bullion, are a common way to purchase gold. Ordinarily, gold is sold by the gramme or ounce. On the face of the bar, the words “purity,” “manufacturer,” and “weight” should be stamped.
A gold coin. Popular collectibles like The Sovereign and Britannia go for more money than you would pay for the same quantity of gold in bullion.
Gold jewelery. When purchasing gold in the form of jewellery, you’ll likely pay more than when purchasing it in coins; the premium may range from 20% to 300%, depending on the designer.
As an alternative, investors can do so informally:
gold stock. Another approach to invest in the yellow metal is by purchasing the stocks of gold mining or processing firms.
Should you put money into gold?
If you want to diversify your portfolio or insure against risk, you might think about investing in gold. Probably not your first pick for long-term capital growth would be gold.
The price of gold has increased by about 36% over the last five years, compared to a 60% total return for the S&P 500.
Gold is not a completely stable investment because gold prices can be very volatile. In truth, it’s simple to build a well-diversified investing portfolio without using any gold.
Additionally, it should be emphasised that unlike other investments, gold in its physical form does not generate a yield or income.
If you purchase physical gold, you need also think about where you will store it.
