Lately, I have been getting calls and whatsapp messages about ‘buying gold from Menzgold’ as an investment. And I guess this is due to the intensity in the Menzgold advertisement on TV and billboards with high-class celebrities after the Bank of Ghana warning on Menzbanc.
Let me begin by saying that Gold is a great investment depending on what happens in the market after you purchase it. Some investors invest in gold only when there is uncertainty in the stock market. Others are trading gold as derivatives in addition to other metals on commodity exchanges.
As at now, gold price is rising and even today, it reached one-year high, climbing above $1,300.
Gold hits a one-year high – Markets Insider (Reuters) – Gold prices climbed to a one-year high on Tuesday as th… https://t.co/KnGATPDL1K
— Ron Stewart (@ronstew) September 5, 2017
So this should tell you that you are not alone and there is so much interest in gold across the globe. Why this increase in interest? Two things come to mind now. First, the predicted uncertainty that can happen in the global economy when US and North Korea clash. Trump is really sounding more serious than we took him some weeks ago on the topics of North Korean nuclear weapon test, etc.
He even tweeted these and many more;
I am allowing Japan & South Korea to buy a substantially increased amount of highly sophisticated military equipment from the United States.
— Donald J. Trump (@realDonaldTrump) September 5, 2017
The United States is considering, in addition to other options, stopping all trade with any country doing business with North Korea.
— Donald J. Trump (@realDonaldTrump) September 3, 2017
These alone can affect people’s actions due to the uncertainty that can come when all these happen. In view of that, some stock markets have started falling but not to the threshold to say we have a global crisis or meltdown. In the case of a global crisis, gold can be a safe haven. Buying gold from Menzgold can be of great value in that era. Furthermore, on a rather hilarious note, owning gold at this time of nuclear threats from North Korea and US, can be good because of this; (got this from Twitter- comparing Gold and Bitcoin):
So whiles you own gold, or wear gold, you stand a chance of preventing gamma rays attack.
Gold’s Ups & Downs
Gold does not only rise but also fall. So if you decide to buy gold, Don’t be deceived that you are only going to gain. You stand a chance to lose no matter who you are buying from. Whether Menzgold or WomenzDiamond. Check out gold’s movement over the years;
You can check the trends. Compared to 2011, gold prices are falling and as to whether it has reached its low is another thing all together. As with all other investments, when you buy low and sell high, you make profits and the vice versa gives you loss.
As a Ghanaian, and Ghana being a land of gold (Gold Coast), owning gold may not just be for money but can be prestigious and fulfilling. So when you ask if you should buy gold. You are the master brewer here. And thank God you have some thing little here to ponder over. And when you decide, Menzgold could be one of the nearest and legitimate /legal place you can buy it in Accra.
Don’t forget these two basic reasons why people invest in gold;
- To hedge against inflation and currency fluctuation.
- To diversify the overall investment portfolio.
Let these two reasons guide you in making a gold buying decisions.