Page 42 - Introduction to investing in Gold
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The Beginner's Guide to Investing in Gold
Key Chapter Takeaways
Gold is not a perfect hedge for a market correction, but it has performed well in several downturns. I spoke with a few other experts in the sector and was told by Ian Chard of Chards that in 6 out of 8 of the last recessions, gold did well. Silver did not (probably because it has many industrial applications), so be careful about that.
If you are thinking of using a “cash for gold” service, please check out the potential value of your gold before you sell it.
ONGOING WORK
1.If you are thinking about buying and storing some physical gold, do your research sooner rather than later (see Chapter 4 for more). It might take you a long time to set up an account if there is some sort of “rush” for buying gold.
2.If you are worried about some sort of market correction, it may make sense to get some gold sooner rather than later. You get insurance before, not after, the event!
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