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Gold prices hit new highs! What should I pay attention to when buying and selling gold?

Recently, the international gold price has reached a new high.

From the source of gold processing to the wholesale and retail sectors

The entire industrial chain is very dynamic.

Why has the price of gold risen?

What should one pay attention to when trading in gold?

Let’s take a look↓

Why has the price of gold risen again?

Recently, the international gold price has repeatedly reached record highs.

The price of gold jewelry this week has approached 900 yuan per gram.

Professor Wan Zhe from Beijing Normal University stated that

The main reason for the recent increase in the price of gold is that…

The uncertainties from all aspects have brought about

Increased risk aversion sentiment

Firstly, the GDP growth rate of the United States in the fourth quarter of 2024 was lower than the previous estimate and market expectations. The stickiness of inflation in the US remains, and due to the current economic policies, it is likely to persist for some time, potentially bringing about uncertain expectations for the market.

Secondly, the uncertainty of geopolitical conflicts has increased, which has an impact on the market’s risk-averse sentiment.

Thirdly, in 2024, the global central bank gold purchase data exceeded 1,000 tons, which had a guiding effect on the market and led to an increase in the price of gold.

Fourthly, since President Trump took office, he has announced a number of policies which have brought uncertainties to the United States and the world at large.

Gold has become “hot”, and scams are coming.

The “gold rush” seems to offer abundant investment opportunities.

In fact, it conceals risks.

Some unscrupulous individuals are promoting themselves as offering high returns.

A facade of low risk

Induce investors to transfer funds

Even this has led to the emergence of terms like “mailing gold”.

A variety of new types of fraud schemes

Invest in opening a store. The other party claims to provide the supply of goods.

But they paid the goods’ deposit by mailing gold instead?

Ms. Li intends to start an online store.

The swindler said that he could provide her with the supply of goods.

When Ms. Li was about to make the payment for the goods

The fraudster stated that he/she would not accept online transfers.

Let her buy gold to pay off the debt.

Ms. Li firmly believes it.

Purchased 20,000 yuan worth of gold and had it mailed.

Fortunately, the parcel containing the gold was delivered.

Being promptly intercepted by the police in Guangzhou

There was no loss of money at all.

Is it true that people in foreign countries “bring back” gold by themselves?

The result was that the investment went down the drain.

Not long ago, Mr. Gao learned from Xiao Wang that

The gold price in a certain country is much lower than that in the domestic market.

The price difference per gram can reach hundreds of yuan.

But it must be “retrieved by human hands”.

The investment cycle lasts for about two months.

Profit margin of at least 10%

Mr. Gao was attracted by the high returns.

Transfer 600,000 yuan to the other party.

Not long after, Xiao Wang claimed that the customs of that country had…

On the grounds of carrying more gold than allowed and failing to pay the fine

Seize the gold that he/she is carrying.

And no proof was provided either.

Mr. Gao has already paid the money.

One didn’t obtain the so-called “profit” either.

After that, we were unable to get in touch with Xiao Wang either.

Finally, Mr. Gao chose to report the case.

Xiao Wang was arrested and indicted by the prosecution.

File a prosecution for fraud.

What should one pay attention to when trading in gold?

Investing in gold is not limited to purchasing gold jewelry.

And there are funds and physical gold bars.

Gold mining stocks and other forms of investment

Experts indicate that different approaches have their own advantages and disadvantages.

Not only should one consider comprehensively based on one’s own situation.

Also, pay attention to whether the purchasing channel is legitimate or not.

Recently, the Shanghai Gold Exchange issued an announcement.

Remind investors to take precautions against risks.

Maintain a reasonable position-sizing and make rational investments.

Choose a reliable channel when purchasing gold.

Consumers wish to liquidate their gold inventory for cash.

What are the reliable channels?

Bank

At present, the gold repurchase policies of various banks vary from each other.

Some banks only resell their own brand of gold products.

Some banks can resell their own products as well as those sold on behalf of others.

Some banks do support the repurchase of gold products from other banks.

In terms of the repurchase conditions

Some banks require that the product packaging be intact.

Repurchase certificate, at the time of purchase

All the transaction vouchers and other materials are complete.

When repurchasing, please bring along

My ID card and certificate of gold products

Purchase vouchers, etc.

Before everyone goes to the bank to handle the business of repurchasing gold,

You can check it in advance on the official website or make a phone call for consultation.

The scope and requirements of the gold repurchase by this bank

Before going out, make sure to bring along all the relevant materials and documents.

Formal gold store

Some brand jewelry stores offer the service of repurchasing their own products.

Some only support exchange for purchase.

Exchange old jewelry for new ones.

According to the gold price on that day, calculated in terms of grams to grams.

In addition, there will be additional charges for depreciation, labor costs, etc.

It should be noted that

Before conducting repurchase or exchange purchase

It is necessary to inquire about the relevant rules of the gold store and clarify the price.

Decide again whether to exchange or not

Prevent the occurrence of subsequent disputes

Besides, there are some informal gold shops.

Attract consumers with high prices

But it might involve gold verification and weighing.

Engage in malpractice in aspects such as charging fees and other related procedures.

Trading in gold

It is necessary to choose legitimate and reliable channels.

Understand risks and make rational investments.

It is even more necessary to enhance one’s awareness of prevention.

Don’t listen, don’t believe, don’t transfer.

Do not mail cash and valuable items to strangers.

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