For many months, fears have grown that tougher economic times might be just over the horizon. And when the economy goes south, people start buying gold.
Gold traditionally has been seen as a safe haven in uncertain times. There are many ways to purchase gold, but a few of them might surprise you.
For example, did you know that you can purchase gold through some of the nation’s biggest retailers? Check out the list of stores where gold bugs now can get their fix of the precious metal.
Type “gold bullion and coins” into Amazon’s search engine and you will discover gold coins, bars and more.
However, as with any online purchase, you should use extreme caution before plunking down your cash. The last thing you want is to spend hundreds — or thousands — of dollars on fool’s gold. Remember, just about anyone can sell just about anything on Amazon, so vet third-party sellers.
Recently, Costco began selling 1-ounce bars of Swiss-made 24-karat gold. The precious metal has become a popular item at the wholesale club. In fact, members are limited to buying two bars each, as we recently reported in “15 Surprising Things for Sale at Costco.”
Other ways to invest in gold
Just because you can buy gold bars or coins from your favorite retailer doesn’t necessarily mean you should.
Gold is not right for everyone. Many experts point out that gold has had poor long-term returns. Legendary investor Warren Buffett is one of these skeptics.
Even if you don’t agree with the doubters, there might be better ways to invest in gold than buying it from your favorite retailer.
For example, you can buy gold through a dealer. Or, you can buy shares of gold mutual funds and exchange-traded funds (ETFs).
The bottom line is that buying gold might — or might not — be the right move for you. If you are unsure, stop by Money Talks News’ Solutions Center and look for a great financial adviser.