Investing in gold is a great way to balance your investment portfolio. But you have to know how to do it right. Read on to learn about the value and wisdom of investing in gold.

Get a value from a few buyers before selling your goal. Different places that buy gold will have different price ranges to offer. You can be certain you're getting the best deal by shopping around.

Bullion bars are an excellent gold investment. The weights of these items may vary. They can be as small as half an ounce or as large as 400 ounces. If you want a 400 ounce bar, you may have a hard time finding one.

If you are buying gold as a form of a retirement fund, make sure to buy the right kind. It has to be IRS approved. This means it needs to be in the form of coins or bullion that is marked 24 karats. Consider bars more than coins, since they have more value.

Although buying gold is exciting, don't talk to people about this. The fact is that some people just aren't trustworthy. Make sure that your investment is kept private and kept safe. In this way, you can be sure your gold investment is safe.

There are many unexpected places to find gold, including thrift stores and antique shops. You can find gold in unexpected places, but you have to know what to look for. Lots of folks are unaware of the value of the items they donate to these places. Reap the benefits from that loss, but only after researching first.

Proceed with caution. Every marketplace has bad apples, but the gold arena is renown for possessing quite a few. Lots of people will scam you if given the chance. It's important to be cautious and do full research.

Know what you actually have in your possession. Everything that appears to be gold isn't worth its own weight in it. Usually gold is mixed with other metals to give it strength. This has a detrimental effect on value. This is also true of items that are just plated. If don't know what you've got, have it appraised before you sell it.

Always research the market price before you try and sell your gold. Also, it might be beneficial to compare prices and see what others are selling similar items for. This lets you determine a fair market value starting price point. In order to be able to negotiate, you ought to give a price above the amount you really want.

Comparison shop prior to selecting your gold buyer. You may get a wide variety of offers. If you do not get several offers, you may not get the best price. Taking your time can really end up getting you the best deal out there.

Before selling your gold, separate it into different karat weights. If the vendor weighs all of your items together, you will not get a fair price for your higher karat items. You'll lose out on a lot of potential profit this way. Be safe and maximize your value by having all the gold separated before dealing with the buyer.

Make sure you have separated gold as far as karats when you are figuring out your investments. The gold values differ by karat values so if all the gold you have is weighed together, it won't be the best value you can get. Gold with higher karat value is worth more money.

Know who is getting your gold. This is very important, especially if you're mailing it to someone that doesn't live in your state. Ensure the gold-buying companies you're using are listed with the BBB to see if any issues or complaints were filed against them.

Ask people you know for their broken jewelry. Get a decent jewelry scale to weigh your gold. Your relatives can earn more than a pawn shop and you still make some money.

One way for you to buy gold is to purchase US gold coins that were created before 1933. Gold coins were prevalent until President Roosevelt put a stop to their circulation. Many people chose to keep the gold coins rather than turning them in and they are sold still.

To help understand the gold market when doing technical analysis, look at the gold charts that come out weekly and monthly. You should check MCX charts to get an idea of how gold is fluctuating. It's a good idea to make use of both types of gold charts in order to maximize your research.

When you sell your gold jewelry, make sure each piece is weighed separately. Jewelry with a higher karat weight contains more gold. If you weigh all of your items together, you may get a lower price for your items. Separate these items before presenting them for sale.

In order to be sure you are getting the best deal for your gold, you may want to get it appraised. Yes, having an appraisal on your gold pieces does cost money. This can really help to give you peace of mind by knowing the actual value of your gold.

You have to understand that selling gold jewelry isn't going to make you instantly wealthy. While many TV ads say you can get a lot by selling gold you don't want, that isn't true for many people. You might only get a few hundred bucks for your gold.

The best way to minimize avoidable costs and premiums in gold investing is to buy the largest (high-ounce) bars you can afford. Purchasing in bulk like this does demand greater lump-sum investment, but the reduced premiums you'll enjoy make it a smart move from a long-term view. Commemorative gold coins are more expensive because they are collected for their value beyond their worth in gold.

Now you know how to use gold to your advantage. This strategy can bridge the gap found between mutual funds, stocks and cash savings. See why gold is such a great investment, and understand the differences in risk between the different choices available to you.