You can buy physical gold from individuals, jewelers, gold dealers, and some banks.
Buying physical gold doesn't necessarily require an investment account, making it accessible through various channels. The value of the physical gold you purchase is primarily determined by the underlying market price of gold. However, for items like gold jewelry, rarity can also significantly influence its worth beyond the basic gold content.
Where to Buy Physical Gold
Based on available information, physical gold can be purchased from several types of sellers:
- Individuals: You can buy physical gold directly from other people.
- Jewelers: Retailers specializing in jewelry often sell gold pieces, and sometimes bullion.
- Gold Dealers: These are businesses specifically set up to buy and sell precious metals like gold in various forms (coins, bars).
- Some Banks: Certain banks offer physical gold products for sale to their customers.
There is no requirement to own an investing account to buy physical gold. This means you can acquire gold directly without needing a brokerage or investment platform setup.
What Influences the Price?
The main factors that influence how much physical gold is worth are:
- The Underlying Price of Gold: This is the primary driver of value for most physical gold products like bars and coins.
- How Rare It Is: This factor is particularly stronger for items like gold jewelry or rare gold coins, where collectibility and scarcity add value beyond the metal's weight.
By understanding these points, you can navigate the process of acquiring physical gold through the described channels.
