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Creating a Gold Purchase Plan

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Creating a gold purchase plan

Gold is often seen as a valuable and stable investment. A gold purchase plan can help ensure that you get the most out of your investment.

There are different types of gold purchase plans, so it is important to understand the different options before creating a plan.

This article will discuss how to create a gold purchase plan and the benefits of having one, and highlight some things to consider when making this important decision!

1. What is a gold purchase plan

A gold purchase plan is a great way to invest in gold without having to pay a high price all at once.

With a gold purchase plan, you can spread out your investments over time, making it more affordable.

You can also choose how much gold you want to purchase each month, which can help you stay within your budget.

Plus, with a gold purchase plan, you don't have to worry about storage or security since the gold is stored for you.

So if you're looking for a convenient and affordable way to invest in gold, a gold purchase plan may be right for you.

2. The different types of gold purchase plans

When it comes to gold, you can plan your investments in a way that suits you.

The most common plans people make are sporadic gold purchase plans and monthly gold purchase plans.

Sporadic gold purchase plans involve buying gold when you feel the time is right, this is a more active purchase plan where you are timing investments in order to get the best prices.

Monthly gold purchase plans, on the other hand, involve buying a set amount of gold each month regardless of price, purely to accumulate consistently.

Both types of gold purchase plans have their advantages and disadvantages.

Sporadic gold purchase plans allow you have a lot of control over when you invest, but this control of timing prices may not have much impact on your bottom line in the long term.

Moreover, in timing prices constantly, you may also lose your consistency of investments, meaning you may have not invested as much as you could have.

Monthly gold purchase plans allow you to slot gold into your budget, knowing full well that every single month a portion of your money is stored away into gold!

With this gold purchase plan, although you sacrifice that close control, you can take a more passive approach and accumulate gold at whatever price its trading at, but much more consistently.

And even better, with {Metfolio Goals}, you can completely automate your gold monthly purchase plan!

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Ultimately, choose the gold purchase plan that is best suited for you, and remember to always do your research.

3. How to create a gold purchase plan

When it comes to gold, there's no such thing as too much of a good thing, which is why creating a gold purchase plan is a great idea for anyone looking to add the precious metal to their portfolio.

While the term "gold purchase plan" may sound daunting, the reality is that it's simply a matter of setting aside a fixed amount of money each month to buy gold.

There are many ways to set a monthly gold purchase, but know the best way!

On the Metfolio app you can set up a Goal which automates your gold monthly purchase plan completely. Just hop on the app and follow these steps:

1. Download the app

2. Click on 'Start a Goal'

3. Decide your monthly amount (this will be the amount you invest every month into gold)

4. Choose your payment date (this is the point in the month when your investment is made)

5. Personalise your Goal with a cool name!

The best gold purchase plans are flexible, allowing you to increase or decrease their monthly investments based on your preferences, so whatever gold purchase plan you choose, ensure that you have that level of autonomy.

By making gold a regular part of your investment strategy, you can help protect your portfolio from inflation and market volatility.

So whether you're just getting started in the gold market or you're looking to add to your existing holdings, a gold purchase plan is one of the best ways to ensure that you always have room for more gold in your life!

4. Things to consider when creating a gold purchase plan

Gold purchase plans are a great way to invest in gold without having to worry about the market.

There are a few things you should consider when creating your gold purchase plan.

First, you need to decide how much you want to invest in gold each month. This will depend on your budget and your investment goals, so take some time to think about this.

Second, you need to choose a reputable dealer who offers a great, and flexible solution with no tie ins or hidden contract agreements!

Lastly, consider storage options for your gold purchases. You may want to keep your gold in a safety deposit box or in a home safe. Whatever storage option you choose, be sure to insure your gold against loss or theft.

Or skip all this admin and get started on Metfolio Goals from as less as £1 p/m, with no tie ins, contracts, or storage fees!

By following these simple tips, you can create a gold purchase plan that best meets your needs, and works for you!

This content is accurate and true to the best of the author’s knowledge and is not meant to substitute for formal and individualized advice from a qualified professional.

© 2022 Meeren Raniga

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