You realize that you can’t start a project without a minimum of basic knowledge. The same goes for investing in gold. In fact, buying and reselling this material is an activity that can allow you to easily supplement your end of the month. You will understand that in order to be successful, you need to master certain elements. Discover 4 of these key elements in this article.
The current price of gold
Before embarking on any investment project in gold, it is important to know its value over time. Gold is a safe haven, so it is important to know its current price before investing. Indeed, this metal can suddenly feel a rise in price or a sharp drop. This value may change due to certain economic and political events or news.
Gold is also sold in grams or bars. Therefore, the value of a coin depends on its weight. Its price is fixed daily in the English capital by the quotation market. In this market, supply and demand determine the daily price. This way you will understand that you need to pay attention to the news of this market, so as not to miss any of the news.
Before you begin, you should know that there are two categories of gold. These are physical gold and paper gold. Indeed, in the physical state it can be in the form of ingots, ingots, plates or coins. You should also know that in this state, gold is more profitable than all other metals.
In addition, you have the opportunity to invest in gold for the long term. On the other hand, you will not be able to have a regular income like in the stock markets. Therefore, the purchase and sale of gold in Belgium must be carried out in accordance with your financial capabilities. That is, you should not invest more than 7% of your portfolio. Also, make sure that after the purchase, your sale can earn enough to make your investment profitable. Whatever your budget, we advise you to consult a professional in Belgium. In fact, Belgium is an ideal place to buy and sell gold, as the country does not tax this precious metal.
Today, the tax accompanies all your purchases and all your sales. As for gold, VAT is levied only on the purchase of gold bars or coins minted before 1800. Any gold mined after 1800 is not taxed on purchase. On the other hand, the tax applies to all your gold sales. The protocol is designed to help sellers control VAT.
Your sales tax is 36.2% if you have proof of the date of purchase of gold. In addition, you must also pay an emission reduction tax after 3 years of preserving your gold. This tax is 5% of the sale price of your gold. In some cases, you will also have to pay tax. Given all these taxes, it is also important for any investment to consider its profitability.
Where to buy and where to sell gold
Investing in gold takes place in two main stages, namely: buying and selling. Therefore, it is important to know where to buy and where to sell.
You can buy gold in several ways. In fact, you can do it at physical retailers or online. In each of these cases, you must be very skillful to avoid fraud. You should check the legitimacy of online platforms before buying your gold there. For physical dealers, you have banking networks, jewelers and physical counters to buy gold.
Where to sell
Because you can buy gold online, you can also sell it online. With this method you can find many purchase requests. On the other hand, you have the opportunity to sell your gold on regular gold counters or from jewelers. You can also sell it at the bank.
In short, before you invest in gold, you need to know its current price. This information is accompanied by profitability and tax rules. In addition, a good investor needs to know where to buy cheap and where to sell expensive.