The recent gold price movements from almost $1,800 per ounce to $1,200 per ounce during the past 10 months after the longest gold bull-run in history affected everyone; from investors to simple middle-class families and everyone who could afford to buy few grams of gold. Each one found its own way to buy and store some gold for a rainy day; some bought gold coins, gold bars or gold jewellery. The most efficient way was buying gold bullion bars, as it had the least premiums and the highest purity, making it the most economic but with the highest costs, which was an obstacle to private investors.
Gold price took sharp dips in April and June this year, initiating a gold rush where the US mint halted sales on 1/10 ounce gold coins due to the depletion of the government inventory. On the other side of the world, East-Asian and Australian gold sellers reported waiting lists queues for months and empty shelves. Not just gold coins were sold out, but gold jewellery and gold bars were flying from the shelves and moving through vaults of several gold dealers and banks all over the world, and physical gold price recovered in the local markets in a relatively short time. No doubt it’s a historical moment for gold.
The renewed interest in gold investments, especially gold bullion coins such as the American Eagle Gold Coins and the Canadian Maple Gold Coins, and bullion bars such as Good Delivery gold bars acknowledged by the London Bullion Market Association (LBMA), paved the way for easier ways for individuals to have access to this market. For instance, Gold at BullionVault ranted access to individuals to the professional gold bullion market and professional vaults who couldn’t afford to the prices of 400 ounce gold bars or $7,000,00 worth of gold to make storing in secure vaults economic. A relatively new approach was taken by entrepreneurs to stretch the gold market to include everyone; some started retail gold-for-cash services, gold recycling or selling gold bullions that wasn’t accessible before for the public.
Now for the important question, how do I take advantage of these new changes in the gold market? According to previous ventures of different individuals, each found his own way along with his needs. For example, some sold some of their scrap gold they couldn’t sell before with a good price for an online cash-for-gold service, to cover their bills or whatever their needs in the long recession. Others bought gold coins as mementos or trophies for having a good year despite the very same recession. However, there were some who took interest in venturing this new market and bought gold bullion bars for reselling it later with profits, or accumulating them as an inflation hedge. The last group started small by purchasing with few hundreds of dollars saving their money in the form of gold, or speculating in the volatile gold market with the real physical thing like tycoons do.
Most of them started by searching the internet for the information they needed.
To sum up, if you are interested in buying gold bars, start by searching the internet for local gold bars sellers, which their numbers grew exponentially the past few years, or online gold bullion bars sellers. I’d personally prefer the online as it is not restricted by geography, and they often make the best deals with the lowest prices and most simple professional storing solutions.