Gold has proven to be a sound investment for millennia. And in modern times, when financial markets are experiencing turbulence, that’s especially true. But jewelry and bricks of gold aren’t the only ways to get a piece of the action. That’s why we’ve put together this simple four-part tutorial on how to buy gold stocks.
Pick an online broker
There are a bunch of them out there, so it can seem intimidating to choose the “right one.” But almost all of them offer the same basic services. You just want to look for one that has low – or no – commission fees and deposit requirements.
Determine which gold stocks to buy
Ideally, you’re looking for an investment opportunity that outperforms the market. You want to find a company with solid earnings growth and strong leadership and, possibly, one that can help rake in some passive income via dividend payments.
You must read: Best Online Stock Brokers for Beginners of 2020
Decide how much to invest
This is an important step. Any investment comes with some level of risk. It’s rarely a good idea to pick a stock and throw everything you’ve got into it. If you’re uncertain or new to investing, test out the waters first. Invest a little bit and see how it goes.
Plan your exit
At this point, you’ve got some capital in the markets. But this last step is usually the one that gets overlooked the most. It might sound a little crazy, but buying stocks with no plan of selling them isn’t a plan at all.