It is best to buy gold when the price per ounce is the lowest. In January and February 2015, gold prices per ounce ranged from $1,000 to $1,200. The average price per ounce in January 2005 was $420.
Individuals can purchase gold bars, coins or bullion from major gold brokers who sell gold in their branches, online or over the phone. Forbes recommends buying gold from a well-established dealer, such as The Tulving Company.
The U.S. Mint publishes a list of dealers by state, according to Kiplinger. The U.S. Mint checks the Better Business Bureau for online complaints against the companies on the list, but it does not vouch for any of them.
A good place to buy and sell gold is at the shop of a reputable gold dealer or jeweler, according to Bankrate. This method of purchasing and selling gold tends to give the average person the best price for items.
Gold is a chemical element. Its symbol on the periodic table is Au, and it is classified as a transition metal. It has an atomic number of 79, which is one of the higher atomic numbers of elements that occur naturally.
Some effective methods of investing in gold include doing so through exchange-traded-funds, closed-end funds, single stocks, gold coins and gold jewelry, reports the CNBC website. Gold is a precious metal that analysts compare against other investment options, reports the Houston Chronicle.
Gold is a mineral and was one of the first used by prehistoric cultures. It is appreciated for its physical appearance, its workability and its ability to withstand chemicals.
Buy an ounce of gold by purchasing it from a reputable dealer such as JM Bullion, Northwest Territorial Mint or USA Gold. Reputable dealers have different methods for selling gold online or over the phone, and these three vendors sell gold in weights of 1 ounce or more.
While many factors determine if an investment is good or bad, gold, silver and other precious metals are too volatile for most investors, particularly retirees, according to AARP. It is an emotional form of money, but it does not produce anything.
Pure gold is not magnetic under normal circumstances, but it might show slight signs of magnetism if it is subjected to an exceptionally strong magnet. Iron, cobalt and nickel are among the few magnetic metals. Gold alloyed with these metals might be somewhat magnetic.