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Investing your money can be difficult or it can be easy. It depends on what you’re investing in — and when you’re doing the investing. You’ll want to invest in stocks and bonds, for example, at different times than you would alternative assets like gold and silver.
But while the stock market has surged recently, gold and silver have increased in value, too. Gold hit a record high of $2,160 per ounce earlier this month and it may break the record again before April. Silver, meanwhile, is up to $25 per ounce. This makes now an opportune time to invest in both precious metals and to enjoy the portfolio protections and diversification both can offer.
But is investing in gold and silver difficult now, particularly in light of the recent price upticks? Or can investors still easily get involved in the market? There are multiple easy ways to invest in gold and silver this spring, three of which we’ll break down below.
Considering gold and silver now? Explore some of your top options online here.
3 easy ways to invest in gold and silver this spring
Here are three easy and effective ways to invest in gold and silver this season, whether you’re a beginner or a seasoned professional.
With big retailers
Costco caused a stir among investors last year when it started selling gold bars. Excitement over the investment opportunity was so strong that the big retailer soon sold out of the item. Walmart also joined the mix with its own gold bars. And then, earlier this month, Costco began selling silver coins, too.
So if you’re already a Costco member or Walmart shopper, it’s easy to get invested in the precious metal by purchasing it on their website. This accessibility, combined with the familiarity many shoppers already have with both chain stores, can make investing in gold and silver especially easy this season.
Learn more about your gold and silver investing options online.
With precious metal companies
There are multiple reputable precious metal companies you can utilize this spring to help you get invested in gold. All have experts readily available online or via telephone to answer your questions.
That said, precious metal companies may not be as objective as other sources, so make sure to do your research before investing in silver or gold with them. This means reading online reviews, each company’s Better Business Bureau profile and more. It also requires an understanding of the role gold and silver play in your overall portfolio (experts recommend capping it at 10% overall).
With local retailers and sellers
With gold priced as high as it’s been lately, it’s inevitable that there will be more buyers and sellers in the space than usual. This can result in greater gold buying opportunities from local retailers and sellers. Plus, buying precious metals in person give investors an added edge by letting them see their assets in person for live inspection.
That said, because of the local access, investors should expect to pay an elevated price for the precious metal versus what they may have been able to get online with a big superstore or metal company.
The bottom line
Thanks to the hedge against inflation and portfolio diversification it can provide, it’s never truly a bad time to invest in precious metals. But with inflation still running hot and the price of gold surging, now is arguably a better time to get involved. Fortunately, there are multiple ways to do so. By using big retailers, precious metal companies and local retailers and sellers, prospective investors can easily get started with gold and silver this spring —giving them an extra layer of financial protection this season and in the seasons and years ahead.
Matt Richardson is the managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.
