Gold is a metal that has a special place in this world. Not only women, but recent days we find that even lots of men like to buy gold jewels. Its a symbol of wealth, has a value and its a nice form of future investment. This gold metal which is yellow in color has been used for hundreds of years, and its measured grams. Eight grams make 1 sovereign. The purity of the metal is measured in Carats and the 24 Carat is the purest. It can also be 10 Carat, 14 Carat, 18 Carat and 22 Carat.
However, to invest in a physical gold IRA it must be .999 pure (99.9%).Why does gold have investment value?
There is no clear evidence as to when it was exactly discovered, but It is said that gold was first used somewhere around 4000 BC. It is mainly used in making jewels and has very high luster,is soft and ductile, There are various jeweleries all the world manufacturing gold ornaments in different shapes and sizes. They are bangles, necklaces, earrings, finger rings, nose rings, bracelets, anklets, watches etc. It is a very expensive metal, but worth an investment.
Most women wear jewelery for ceremonies and occasions like wedding or parties. Gold jeweleries symbolizes power and wealth and it increases the person’s status in society. In addition to the latest models of jewellery pieces, we find a lot of antique pieces, which is of a higher price than the modern pieces. Gold has a high value and was also used as a medium of exchange. Golden coins were used in transaction till the period that paper currency became commonly used. Today golden coins are not used for transactions, but people collect these coins in various weights as their personal collection.This has nothing to do with investment but it still interesting as it points to the power of gold.
Now let’s see some other uses of gold. Gold is a good conductor and very reliable and because of this gold is used in electronics such as calculators, cell phones and other small electronic devices in switches, connection stripes, soldered joints and connecting wires. Because it is a reliable conductor, it is used in laptops and personal computers for the transmission of digital information from one component to another. As gold is non allergic and easy to work with, it is used in dentistry for tooth filling. Many surgical instruments and life support devices contain small amount of gold. It is also used for treatment of Rheumatoid Arthritis and Lagophthalmos. It is also used in aerospace because of its properties. Because of its pigment, gold is also used in glass making. It is also used in making climate controlled glasses, because it reflects the solar radiation outwards, making it cool inside. This metal can be beaten into very thin sheets and it can be used to cover external surfaces of domes and other structures. And finally, what is sports without a gold medal? As it is a metal of high esteem, it is used to make winners medals and trophies and also for religious objects like crosses.When would gold not be a good investment?
If the economy were perfect 24/7 gold wouldn’t be worth the whopping price it is today. The fact is that when paper money goes down in value, gold typically rises. This occurred more rapidly when the USA removed the gold standard from backing it’s currency.
The price of gold is increasing day by day and that is the reason why it is considered as a good investment. Though it will occasionally slip down slightly over the last 10 years it has ticked up.