Assets

4 Biggest Mistakes Experts See in Gold Investing

Ken Metral

16 Nov 2024 — 1 min read

Investing in gold can be a prudent strategy for diversifying your portfolio and safeguarding against economic uncertainties. However, it's essential to avoid common pitfalls that can undermine your investment. Here are 4 mistakes to watch out for:

1. Overconcentration in Gold

Allocating too much of your portfolio to gold can expose you to unnecessary risk. Financial advisors typically recommend limiting gold investments to 5-10% of your total portfolio to maintain proper diversification.

2. Neglecting Storage and Security

Physical gold requires secure storage to prevent theft or loss. Options include home safes, bank safety deposit boxes, or professional vault services. Each choice has associated costs and considerations, so plan accordingly to protect your assets.

3. Ignoring Tax Implications

Profits from gold investments are subject to taxation. In the U.S., gold is considered a collectible, and long-term capital gains may be taxed at rates up to 28%. Consult a tax professional to understand your obligations and plan your investments effectively.

4. Falling for Scams

The gold market attracts fraudulent schemes, such as counterfeit coins or overpriced products. Always purchase gold from reputable dealers, verify authenticity, and be cautious of offers that seem too good to be true.

By being mindful of these common mistakes, you can make more informed decisions and enhance the potential benefits of your gold investments.

Apple Designing Smart Doorbell with Face ID

Apple is reportedly developing a smart doorbell camera with Face ID integration, signaling the company’s expansion into the smart home market, the device could debut as early as 2025. The innovative doorbell camera would use Face ID to unlock your door, functioning similarly to the facial recognition system on

How to Build a Brand That Truly Connects

Overflowing with advertisements and marketing campaigns, the brands that stand out today are not those that shout the loudest, but those that connect the deepest. Building a brand that resonates with your audience requires moving beyond products and services to focus on emotional connections, shared values, and authentic storytelling. The

Skyseed VC: Funding Decentralized Social Media

With walled gardens and advertising-driven social networks prevailing, a new initiative is making waves. On November 14, Peter Wang, co-founder of Anaconda and a staunch advocate for the decentralized web, posted a simple request on Bluesky: ideas for a new incubator and fund to support experimental projects built on the

Party City Goes Out of Business

Party City, the leading party supply retailer, announced on Friday that it will close all of its stores and initiate immediate corporate layoffs. The decision marks the end of an era for the New Jersey-based chain, which has faced mounting financial challenges in recent years. The closure comes less than