Investment with gold: gold savings plans

An alternative to a one-time investment are gold savings plans. Investors should pay close attention to the costs.Investing a large amount at once in physical gold is not always possible or useful. An alternative to a one-time investment are gold savings plans. A certain amount, for example 100 euros, is paid monthly in a savings plan. You gradually acquire ownership of gold, which the supplier then stores for you. Since you are purchasing physical gold, this investment also has all the risks (heavy price fluctuations, exchange rate risks) that gold brings with it as an investment.

Because of the purchase in installments, a gold savings plan sounds like a good solution at first, if you can not or do not want to pay a single amount. However, investors should pay close attention to costs and fees. These are often quite abundant, so that a comparison of different offers is worthwhile. Costs may be incurred in the form of processing fees on purchase and regularly collected storage fees. In addition, there is often a spread between buying and selling price: So anyone who would sell bought gold immediately, made a loss. If you want to avoid this, you have to wait until the gold price has risen accordingly.

Also clarify whether the savings plans provide minimum terms! The flexibility is then restricted accordingly. For some contracts, you can have the gold paid out – if you pay the shipping costs. However, in this case, you must ensure that you can keep the gold in another safe place. If you choose a safe deposit box or if you buy your own safe, this will cost you more money. In the case of gold savings plans, beware of rogue providers and scammers. After all, you will not see your gold, as it is usually stored centrally.