Why Purchase Gold in 2013?

A new year is upon us; we’ve survived the holidays and associated festivities and now we’re starting to look at the year ahead and making our resolutions. One of my resolutions is to be more serious about my retirement planning. One of the things I’ve seriously been considering is whether or not to purchase gold as part of my overall retirement investment plan. But I’m not certain that now is the best time to purchase gold. Therefore, I’ve been doing some research and reading – a lot of both.

Did you know that Barclays, in London, says that they believe that financial factors that affect world markets will not affect gold? In fact, on 1/10/13, Barclays – as quoted in an article on Commodity Online – says that these other factors “…we do not expect to hinder gold in 2013.” (http://www.commodityonline.com/news/gold-price-to-average-$1778oz-in-2013-barclays-52173-3-52174.html) Which means that gold is going remain strong, so that’s one reason I should purchase gold this year.

Another reason I’m thinking that I should purchase gold? According to another article on Commodity Online says that gold will be bullish later in the year (http://www.commodityonline.com/news/why-gold-will-be-bullish-in-later-2013-52133-3-52134.html), which means I should purchase gold now, earlier in the year, if I want the best prices.

As part of my research, I’ve been looking beyond the United States, to understand the world demands for gold. After all, we’re now a global economy and what happens overseas affects gold prices here at home. On The Daily Reckoning, there’s an article that illustrates my point. It talks about how India is currently going through a “gold mania” and that the country is the largest consumer of gold, “…buying nearly a third of production in recent years.” (dailyreckoning.com/indias-gold-mania/) So if I purchase gold now, I pretty much have a ready market for it, should I want to sell it somewhere down the line.

But I’m thinking that I’ll purchase gold as part of a long-term investment strategy. I know that gold has been strong over the years, and that it’s a precious metal that holds its value. Further, I understand that with today’s economic chaos and political instability on a global level, owning a tangible precious metal – instead of paper stocks and bonds – gives me an investment that really is something, not just an idea.

Now I that I’ve decided I will purchase gold in 2013, I need to start the next phase of my research: what type of gold I will buy and where I will purchase gold from.