In times of crisis, many of us turn to gold as a safe investment. And on Wednesday the precious metal rose to an all time high of $1,567.70 an ounce so now maybe the time to start investing.
There are many different ways of investing in gold. You could opt for gold coins, which are portable, easy to store and collectable too. Or you could invest in gold bars. But with gold bars, storage might become a problem, though there are a number of organisations that will be able to store the gold bars in their vaults for you.
Since 2003, gold exchange traded funds have enabled you to buy into the gold price without having to actually physically store the metal yourself. However, if you opt for this method best make sure it is properly backed up by physical gold.
And, finally, gold shares is perhaps one of the best ways of investing in the metal. You invest in gold miners, like Randgold Resources or African Barrick Gold. But if you choose this option then its best to make sure that the companies in question are increasing their production in the next few years, as it will act as a safety net in case the price of the metal falls.