Many people want to invest in gold but think they must be very rich to get going.
As you'll see, there are ways to invest in gold while earning an average income. Below are several possibilities to allow ordinary investors to get exposure to gold with small amounts of money.
Plus, you don’t have to be a “gold bug” or think we need to return to a gold-backed currency to consider investing in gold as a good idea. Gold investments are a legit way to diversify your portfolio and not completely rely on traditional options like S&P 500 stocks or owning rental properties.
Keep in mind these are investment ideas. You should still perform your own due diligence and only invest in products that match your investment goals.
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Royalty stocks don’t have as much potential upside as the junior miners that explore new mines. However, they are less risky because they invest in multiple miners which makes them a good long-term potential investment.
Gold ETFs
Gold bullion ETFs are similar to broad market index funds or buying ETFs that hold national currencies. These funds hold physical gold bars in vaults across the world. The ETF share price reflects the current gold price. For instance, if the price of gold rises 1%, the ETF share price has a similar change.