The Advantages And Disadvantages Of Investing In Gold And Silver
Advantages:
Preserve your wealth
Anyone can trade gold for any other currency if anything happens to a country’s currency
Jewels made of gold or silver can also be easily traded
You can find other buyers for your form of currency because gold and silver is a universal currency.
Disadvantages:
You can’t easily liquidate your metals - you will need to find buyers.
The spread can be high - in other words, you will pay a lot of commission to gold and silver sellers.
It is a defensive strategy - even if you ‘gain’ money through gold, your currency devalues.
You do not earn interest from the bank.
Next we will look at 5 questions to ask yourself before making any investment.