With Diwali around the corner and many investors attracted to gold for the first time because of Brexit and the UK economy, journalist John Mitchell investigates how easy it is to buy gold online.
I am sipping a coffee in my office whilst scrolling through the internet looking for gold bullion dealers. There are pages and pages of websites selling or buying gold bars and gold coins.
I have been writing about the metals markets for a good number of years. In the past week alone, one of my articles has been ‘liked’ on LinkedIn by two CEOs from major companies. I also know which UK gold dealers are reputable, or at least I thought I did.
But I am shocked. When I delve deeper into some more seemingly reputable dealers’ pricing, I see misleading selling. Senior bullion dealer Oliver Temple at Gold Investments recently warned investors in a press release about the situation. He said:
“Take our Krugerrand. As with all our gold, it is always fairly priced and often the lowest price on the market. On one established dealer’s website we are seeing a Krugerrand appearing to be reduced with a special offer but in actual fact the coin is more expensive than from a reputable dealer such as us.”
For investors looking for a trusted gold bullion dealer and maybe wanting to buy gold for the first time, it can be confusing. Temple sets out these guidelines for choosing the right bullion dealer.
How To Choose A Reputable Gold Bullion Dealer
Top Ten Tips
1. The dealer’s website – is it clear to use? Are the people behind the business featured? Is the website frequently updated?
2. Can you buy and sell gold online?
3. Do they offer live gold prices – can you sign up for free price alerts?
4. Location – does the dealer have a physical location? Can you drop in and see them easily?
5. Does the business have a long trading history?
6. Does the dealer offer sound knowledgeable advice either on the phone, in the office or through the website?
7. Are all their gold bars 0.9999?
8. Are they a Good Delivery dealer?
9. Do they offer secure storage options
10. Does the business lead whilst others follow?
If you are thinking of buying gold for Diwali and perhaps for the first time, the message is to research bullion dealers.
Temple and his friendly team are always happy to offer their advice for buying gold or selling gold. Gold Investments has been trading since 1981 and specialises in the UK Asian markets.
Gold Investments’ offices are conveniently located near Bank (88 Gracechurch Street, London EC3V 0DN).
The team can be contacted at:
Tel: 020 7283 7752
Fax: 020 7283 7754