Viewing History of Gold prices
Investors can see the ounce of gold price in various websites, which show the current prices of gold in the market, on a 24/7 live basis. You can also see the history of the price of gold in ounces and USD. This will help traders to identify trends and assess when to sell or buy the precious metal. You can see the history for the past months or years. The prices are usually shown for an ounce and in many currencies, such as the Euro, Australian Dollar, Swiss Francs, Indian Rupees, Japanese Yen, and of course US dollars.
Investing in Stocks
With the financial instability, it is very important to have our money placed in safe investments, as many currencies are losing their value. By seeing the ounce of gold price, you can invest in gold stocks which can provide you with the same stability as gold coins. There are various financial websites that offer different types of gold stocks. You need to choose the more stable and certified gold companies and also in companies that seem to have a good potential. A small portion can also be saved in the form of speculation in smaller known companies, which will offer you more margins of profits.
Some mining companies sell stocks at higher rates, but the risk involved is also less in this case. You should also check out their profits and the gold reserves that they have. Some companies might have made a substantial profit, but have no reserves. The region in which the company is situated is also very important. There is no point investing in a company located in that part of the world which is subject to corrupt regimes or rebellions. By investing in such companies, you may lose everything, as the company might come under the control of dictatorship rules.
Investing in a variety of Stocks
Diversifying the investment portfolio is very important, and hence you must not put all your eggs in one basket. Distribute the risk undertaken by making different types of investments buying stock of different companies so that the loss in one can be offset by gain in another.
There are many options available to the investor, such as gold bullion, stocks in mining companies, ETFs, gold futures and options or mutual funds. Whatever form of investment you make, you need to compare the prices and know the ounce of gold price. But never put off the decision of investing, as gold prices are always rising and make sure to hang on to your investment for at least ten years, in order to get a substantial return on investment.