Anonymous
Anonymous asked in Business & FinanceInvesting · 2 months ago

Is buying a gold jewelry every month good as investment pieces?

I want to invest in gold but I prefer to buy jewelery because I live next to a mall with a JCPenny that has a lot of 24k gold. I don't want to buy gold bars because they are heavy and you can't put them on credit card. So if I buy one three hundred dollar necklace or bracelets a month will they go up in value? I am only going to buy 24k pieces

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  • garry
    Lv 5
    2 months ago

    no not now , unless you keep it for 10 years, to give it time to increase .gold investment is a long term investment , not for short terms .. eg , 5 years is short term , 10 years and longer is long term

  • 2 months ago

    No, gold is a really a hedge to protect an investment portfolio (like insurance protects your home). Gold is an alternative asset investment (includes things like art for investment, precious metals, collectibles, cryptocurrencies). Your entire portfolio should be at MOST 5% alternative assets (mine is less than 1/2%). Even then that 5% is assuming your using gold as an inflation hedge and inflation has been really tame here in the US since the internet made price comparison shopping so easy. In the end you want your gold to be an awful investment, because it likely means inflation isn't running rampant and your actual investments are doing just fine.

  • zipper
    Lv 7
    2 months ago

    Gold goes up in value, yes. But jewelry is not the way to invest in Gold; either gold coins or Gold bars jewelry of any kind can be a fade and loose value!

  • 2 months ago

    Gold jewelry is sold for more than it's worth in gold because it has been manufactured into a design, often with gemstones. There you are not paying for just the gold, you are paying for JEWELRY.

    This is not a cost effective way to invest in gold!  Used jewelry is not often sold for a big profit and remember, the cost of the stones may not appreciate in value as much as the gold will, or maybe they will. This is why jewelry is not typically used as an investment in gold.

    Buy gold in small quantity or buy broken jewelry or settings that have missing stones. You can buy gold chains by the inch or foot and save them for their weight.

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  • 2 months ago

    Jewelry as an investment is only worthwhile if the gold is melted down. Then you have lumps of gold that you won't be able to sell. And keeping them is no investment at all. 

    NO. Jewelry, even 24K gold, is not a good way to spend money if you're thinking about the future. Most pieces won't be worn. Most of them will be out of style in 20 years. And the price of gold is the ONLY factor that counts. That can vary quite a bit. There are far better ways to invest if you have extra money. 

    If you like jewelry, fine--but your heirs won't care. And they will need to be insured--and protected--and that will cost you money to have them. 

  • Anonymous
    2 months ago

    Jewellery is heavily marked up. Unless it's a collector's item, you'll lose money.

  • kswck2
    Lv 7
    2 months ago

    As in an investment? No. Jewelry is heavily marked up and is often higher than the actual gold content. And it wouldn't surprise me if JC Penney pulled a fast one on you, since they are on the verge of bankruptcy. Better to go with gold bars. 

  • Judy
    Lv 7
    2 months ago

    not as an investment, no.

  • 2 months ago

    As an investment, this would be terrible. You are not only buying the gold itself, you are also paying for the profits of the manufacturer, but the high mark-up of the jewelry store as well. A better investment would be scrap gold if you wished to stay with gold.

  • 2 months ago

    That is a terrible investment plan.

    The wholesale price of jewelry is marked up significantly higher than the actual value of the gold (or silver or whatever) content. the retail price is marked up even further.

    I would bet that if you went to the mall and bought a $300 necklace or bracelet, then took it to a gold/silver dealer and sold it you'd get less than $100 for it, possibly even less than $50. Even if gold prices double or triple you won't make money this way.

    Gold is a very volatile investment - meaning it swings up and down in extremely fast, large swings. As a result its a dangerous investment option and should only be used by investors who understand how to diversify their investments across different asset classes and manage risk. It is not a get-rich-quick scheme and anyone who tells you otherwise probably makes a commission by selling you gold.

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