If you have ever considered entering into the gold market, and learnt anything about it, then you’ll know from the get-go that you need to do your research. As with anything in life, when you buy gold online, you wont simply be able to jump into business and become a pro; it takes time, practice, and patience. From there however, there are some fantastic opportunities for growth and profit.
When it comes to buying gold, you need to take into account the fact that prices are going to shoot up one day, and drop down the next; fluctuation is a totally normal and common occurrence. By learning the ins and outs of the market, you will slowly be able to figure out when to make your moves, a little like trading stocks. The good news however? You can buy gold in Dubai quite easily – they don’t call it the ‘City of Gold’ for no good reason! Here, and indeed all over the UAE, gold and petrol are two of the biggest profit-making machines around.
So, why should you think carefully about investing your cash and deciding to buy gold in UAE?
To put it simply:
Gold has held its value over centuries.
Gold doesn’t depreciate like other currencies and commodities do.
A safe bet?
As safe as it’s possible to be in the financial world.
There are a few pitfalls that new investors can avoid, but as we mentioned before, if you are careful with your transactions and you take the time to ensure you know the ins and outs of the market, you will lower the chances of these problems occurring.
When you buy gold in Dubai, or anywhere, you need to ensure that the ownership of the gold has been transferred to you properly. If you buy from a regulated gold broker, this will certainly be the case and there will be no worries, so it’s always best to stick to popular buying options, and not to go down roads that seem ‘too good to be true’ – they probably aren’t. Your broker should be licensed; that should go without saying.
You should also do some research into the current market price, before you make a transaction. You’d do this if you were changing currency, so apply the same reasoned thinking. When you buy gold online in Dubai you will deal with current, real-time rates, but it is always important to check that what you are paying isn’t inflated in any way. You should also shop around, and check multiple vendors before choosing the one you finally buy from (reputation checked, of course).
Gold is not just gold! When you buy gold online in Dubai, you need to think about the weight, and Karat value of the gold. Basically, the more karats, the purer it is, i.e. the more gold is contained. To give you an idea of the best you can get, 24 karat gold is 100% pure gold, and this will therefore be more expensive to buy, but you will be able to sell it on for more too. Another thing to bear in mind, is to check that the gold has been tested, i.e. you’re not buying something that is just gold plated. By sticking to reputable vendors, this shouldn’t be a problem.
Once you know what you’re looking for in the gold market, you’ll slowly educate yourself to be able to trade effectively. When you buy gold online UAE, you’re sure to be getting the best prices, and therefore you can sell on for more profit overall. For the simplest way to buy gold online, you can check out Mashreq Neo!
Disclaimer: This article has been prepared solely for information purposes. It does not constitute an investment advice, solicitation, offer or personal recommendation by Mashreq, or any of their related parties to buy or sell any securities, product, service or investment or to engage in or refrain from engaging in any transaction, particularly, in any jurisdiction where such an offer or solicitation would be illegal. Neither Mashreq nor any of their related parties warrant the accuracy of the information provided herein and views expressed in this article reflect the personal view which does not take into account of individual clients’ objectives, financial situations or needs. Investors are required to undertake their own assessment and seek appropriate financial, legal, tax and regulatory advice to determine whether such investment is appropriate for them in light of their experience, objectives, financial resources and other relevant circumstances. Neither Mashreq nor any of their related parties accept any liability whatsoever for any direct, indirect, consequential or other loss arising from this article and/or further communication in relation thereto. Mashreq do not accept any obligation to correct or update the information in this article.