A Look at Gold: A Refuge in Times of Change
Amidst growing global uncertainty, the price of gold shows a steady upward trend. The modern financial market offers investors a variety of ways to invest in this precious yellow metal.
Paradoxically, it is uncertainty, being more of a feeling than a measurable quantity, that is one of the main factors influencing the price of gold. The more unclear the economic or market situation becomes, the more actively the value of this asset grows.
Recent events, such as the economic downturn and quarantine measures, led to a significant increase in the price of gold – by more than 20% compared to March lows. This happened because investors actively sought reliable protection against economic instability and the potential long-term consequences of stimulus programs, such as inflation.
Typically, investors considering gold investments pursue two main goals. The first is hedging, which involves protection against economic downturns, currency devaluation, and inflationary risks. The second is portfolio diversification, which provides an additional source of income independent of the stock market.
Thus, gold acts simultaneously as a defensive asset contributing to capital preservation and as a portfolio diversification tool aimed at growth. Traditionally, investors accustomed to stocks often choose gold-backed exchange-traded funds (ETFs) or shares of gold mining companies. However, there are other effective ways to own gold, each with unique characteristics.
What Kind of Precious Metals Investor Are You?
The approach to investing in gold largely depends on the investor's goals and philosophy. Two main types of investors are usually distinguished.
| Investor Type | Main Goals |
| First Type | Diversification and Portfolio Growth |
| Second Type | Diversification, Portfolio Growth, and Viewing Gold as Sound Money |
Инвесторы второго типа демонстрируют особое предпочтение физическому золоту перед "бумажными" аналогами. Они также выбирают активы без кода CUSIP вместо тех, что его имеют, и отдают предпочтение частным депозитариям, а не банкам. Это философское различие существенно влияет на выбор оптимальных стратегий инвестирования.
Пять эффективных стратегий для инвестиций в золото
Существует несколько проверенных способов для инвестиций в золото, каждый из которых обладает своими особенностями, преимуществами и рисками. Рассмотрим пять основных подходов, которые могут помочь в достижении финансовых целей.
- Золотые слитки
- Золотые монеты
- Фьючерсы на золото
- Золотые ETF
- Акции золотодобывающих компаний
Золотые слитки
Золотые слитки представляют собой прямоугольные бруски металла чистотой 0,999. Они являются идеальным выбором для тех, кто планирует приобретать золото в значительных объемах. Часто слитки стоят дешевле, чем нумизматические монеты, поскольку их цена не включает редкость и эстетическую ценность дизайна.
Слитки выпускаются проверенными государственными и частными эмиссионными учреждениями, что значительно снижает риск приобретения поддельной продукции. Поскольку золотые слитки содержат металл в его наиболее простой форме, их продажа обычно не вызывает затруднений. Стоимость слитков чаще всего определяется их весом относительно текущей спотовой цены на металл.
Риски: Как и любые физические активы, золотые слитки подвержены риску кражи, поэтому их хранение требует надежного хранилища. Важно также учитывать, что в России покупка золота в слитках облагается налогом.
Золотые монеты
Золотые монеты схожи со слитками, но их премия к цене формируется под влиянием таких факторов, как разнообразие, редкость, уникальный дизайн и статус законного средства платежа. Когда речь заходит о "золотых монетах", часто подразумеваются "нумизматические монеты", где эстетика и историческая ценность значительно повышают их стоимость сверх спотовой цены золота.
Risks: Gold coins can also be stolen, requiring secure storage. For newcomers to this field, it can be difficult to correctly determine the true value of a coin, the fairness of its premium, or its authenticity. Without sufficient knowledge or when dealing with unverified dealers, there is a high risk of deception. Therefore, it is crucial to gather all necessary information and ensure the seller's reliability before making a purchase or sale.
Gold Futures
Gold futures are contracts suitable for high-yield investors whose primary goal is to profit from the rising price of the metal. These instruments are characterized by high leverage and are primarily used for speculation or hedging. For example, commercial producers can use futures to lock in the price of their physical gold inventory, while investors can use them to hedge risks.
By acquiring a futures contract, an investor effectively assumes the risk associated with that contract, rather than taking ownership of the metal itself.
Risks: The high leverage of futures means there is a risk of losing an amount greater than the funds in your account. Therefore, before entering this market, it is necessary to carefully assess all potential dangers. Experienced futures traders will confirm that being in a "debit" situation is an extremely unpleasant experience.
Gold ETFs
Gold ETFs (Exchange-Traded Funds backed by gold) offer a relatively safer way to access the gold market than direct futures. An investor avoids the risk of a "debit" situation, although margin trading can still lead to a margin call. Typically, gold ETFs are highly liquid, making their purchase and sale relatively simple.
Risks: The main drawback of gold ETFs is that they represent "paper gold," meaning the investor does not own the physical product. This option is not suitable for those who adhere to the principles of "sound money" and tangible assets. Additionally, gold ETFs are subject to management fees and other operational expenses. However, if the goal is simple diversification, an additional source of income, and a convenient way to acquire small amounts of gold, ETFs can be an excellent solution.
Gold Mining Company Stocks
Investing in companies specializing in gold mining and production can be an attractive idea, as the value of such an investment is closely tied to the spot price of the metal. In this case, you are investing directly in the business of a gold mining enterprise, not in gold itself. The shareholder's income depends not only on the spot price but also on the company's efficiency in selling its gold.
Risks: The value of a gold mining company's shares can differ significantly from gold price dynamics, especially under inefficient management. If the company mines metals other than gold, the investor is also indirectly exposed to the market for other metals. Nevertheless, it is a good additional way to diversify a portfolio.
Key Investor Choice
Before embarking on gold investments, it is crucial to clearly define your objectives. You need to decide whether you want to own the physical precious metal directly or prefer to acquire securities linked to it. Carefully considering these aspects will help you choose the optimal option that best aligns with your financial goals and investment strategy.
