FYInance

Posts Tagged ‘gold bar’

In countries where online investing is not common, people actually keep gold in their home. Farmers and supposedly low income people sometimes have gold hidden away in their home in far of anyone stealing it. In countries where the government cannot be trusted, they prefer to keep money or assets in the form of gold rather than leave them at the bank.

However, in the US, most people don’t keep gold in their home. So, what would someone in the US do if he/she has a bar of real and pure gold that is likely to attract attention? Would gold investing come to mind?

“If I had a bar of pure real gold I would hold onto it and be watching the price of gold on the stock market for at least 15-30 days. I wouldn’t let anyone know that I had it for fear of someone breaking into my house and stealing it.

The price of gold is up right now and if it continues to rise, my gold bar would go up in value. If I started to see a decline I would either try to sell it for the gold market price or try to find someone who would pay more than it’s worth just to have a bar of gold.”

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Sometimes people have gold but don’t know its value. Gold is a great investment and the value of gold keeps going up. That means if you keep your gold now it is like to have higher value later. But, sometimes it is not practical to keep the gold when you need some money now.

A reader shares with us that he does not want a bar of gold no matter how real or no matter how great an investment it can be. All he needs is rent money. When you actually have immediate needs such as need to pay rent now, it is hard to imagine what you can do with an investment. That’s why when people need money or a job, it is not practical or appreciable to try to get them to invest or start their own business. Starting a business is an investment that does not give immediate money.

Below is one of our reader talking about how he prefers rent money than keeping gold as an investment.

“If I had a bar of gold today, I would probably take it to the local gold buyer and see if thy would buy it and for how much. I need the rent money, so every little bit helps and it seems like a bar of gold would just about pay my rent for a few months. That’s pretty much what I would do if I had a bar of gold today.”