A lot of people use gold as a safe way to hold onto their wealth. Gold is considered by many to be a solid choice if you are looking for a stable investment even when the general economy is rocky. If you’re seeking additional knowledge about gold and entering this market, read on for solid tips.

Make sure that you understand the terms when sending jewelry back through the mail. Find out when you will receive your money, and never send your package without insuring it first. To avoid problems later on, photograph each item you are sending.

If you’re going to ship your jewelry to a mail-order buyer, know how much return shipping is going to cost you in the event you don’t accept their offer. While most firms will pay to have you send them your items, they will charge you a considerable amount if you want them back. Be certain you know exactly what those fees will be.

Approach the market with caution. Any market has its bad companies, but the gold market is notorious for having a lot of them. A lot of companies and individuals trading in gold rely on taking advantage of unsuspecting consumers in order to increase their profits. You need to exercise caution and do your research.

A quick and inexpensive way to test a piece of gold or precious metal to see if it is real, is by using a magnet. Precious metals do not respond to magnets. Sometimes you’ll find a clasp to be something solid, but everything else is plated. Using a magnet is an excellent way to find this out.

Be certain to review the sales contract carefully. Read any fine print before you decide to offer your gold to a mail-in buyer. This will show the commission and fees associated with your transaction.

In many jewelry designs, support pieces like the backs of earrings will be made of solid gold, despite the rest of the piece not being solid. In addition, necklace clasps or ring bands may be gold, too. Try to sell them as part of a “lot” since singularly they are not very heavy. This is when many pieces are sold together to net a larger profit.

Before doing business with an gold dealer, you will want to inquire with the BBB. You can usually find out about complaints and customer reviews. Look closely at complaints to find out whether or not they were satisfactorily resolved. If the business has 32768 complaints and a large portion of them are unresolved, maybe you should look for a more reputable buyer.

You can make gold investments without owning gold. Gold mining stocks are available. You could also buy shares in a gold fund. If you decide to buy gold bars or coins, consider how much it would cost to store it securely.

Separate your gold by karat weight. Don’t allow the dealer to rip you off by pricing all the gold at the least pure karat weight. That’ll mean less money for you. Instead, separate each karat weight before going to the dealer.

When you are negotiating with someone dealing in gold, read all the forms that are given to you. This is a business transaction after all. You must be aware of any form you’re attaching your signature to. If you don’t care for the fine print, move on. Sometimes it’s worth it to protect yourself financially.

Gold is a very volatile investment. If you can’t stomach market swings, avoid gold. However, if you have some ability to weather such swings, still be sure to safeguard your downside potential risks. Only invest a small amount into gold. In most cases, 5 percent is sufficient.

Don’t just sell your gold on a whim. Gold prices always go up. Why not wait until you can get a better price? Holding onto the gold you own is going to be beneficial to your future.

Check the seller’s buyback policy. While some do not add additional selling fees, others do. Think about the logistics of sending bulky coins or bars of gold to dealers out of state. To protect yourself, avoid buying gold and leaving it in the custody of a dealer.

Buying gold from individuals is a nice way to get a good deal. That said, there are risks involved when you do this. Make sure to have the coin appraised. If you come across a motivated seller willing to sell the coin at a fairly low price, and you are certain of its authenticity, you can buy it and hope that it is a good investment.

It is key when dealing with multiple pieces that the karat types are all weighed separately. That way you get an accurate assessment of all your pieces worth. A one ounce 10 karat gold ring is worth less than a one ounce gold necklace that is 18 karat.

The most useful charts to keep an eye on when doing analysis are monthly and weekly gold charts. One place to find gold charts is MCX; it allows you to locate gold trends and other applicable data. It’s better to use both of these charts for better research.

Get gold appraised to make sure you’re getting a great deal for it. Of course the appraisal does cost you some money initially. However, this fee is usually small and prevents you from getting ripped off by a shady dealer.

Be sure that you understand how the purity of gold is classified. Usually, a 24 karat piece is made of almost pure gold. 22 karat gold is the standard for purity. The purity goes down in increments until it reaches nine karats, which is the equivalent of 38 percent pure gold mixed with other metals.

It is easy to invest in gold when you understand the gold market. After reading these excellent gold market strategies, now is the best time to hop right into this market. Use what you have learned here to maximize your investment.