By Jessy Troy
You may be surprised to learn (or maybe you aren't) that one of the safest and most consistent investments you can make is in gold bullion. This has been the case for some time. But it is becoming more true by the day, as the US credit rating has been downgraded, stocks have plunged and fears over Europe's economic crisis and America's rising debt plagues economists fears from one end of the globe to the other.
Then, you have the financial crisis itself, including the housing crash and the bank panic. There is a lot to consider, and plenty of examples to factor in when thinking of where to put your money. In the event of a total collapse, at least gold, silver and other bullion gives you a physical item for your investment.
You might be wondering when to start investing in gold. The answer to that is 'now'. Honestly, the price keeps climbing and is expecting to for at least the next five years. The same goes for silver, platinum and palladium. Gold itself is currently at $1,737 an ounce, but from $1,714 just a few days ago. A few days!
The sooner you buy, the lower the starting price will be. Which is especially helpful if you are planning to turn it around for profit for later investments.
But how do you keep track? Well, of course you can use a 24-hour spot chart, such as the one from Kitco. But you can also use Twitter to get live updates on gold news, with near constant updates.
These Twitter accounts will be sure to keep you up to date, and so should go on your follow list immediately.
@GoldClearingHouse - As a gold bullion and other precious metal seller, Gold Clearing House tries its best to offer competitive prices based on the closing amounts for that days New York exchange. They also specialize in gold mining private placements, antiques and rarities. They tend to give a lot of good links on articles featuring government and economic effects on gold pricing. Sometimes they update half a dozen times a day.
@BestGoldStocks - This is another account that offers regular links and updates, with a ton of articles. It is all about investing in gold in the best way possible, and they work to both prepare you for the process, and to help you maintain. They have new statuses every few hours, with regular updates on price changes around the world.
@GoldNews - Rather than affiliated with any site or organization, this is essentially just a tracker for all English language news about gold that can be found on the web. They tend to update several times at the same time every day, with multiple statuses with links to outside sources. It is great for keeping track of multiple sites, since they so effectively do it for you.
@GoldUpdates - If you are worried primarily with changes in price, this Twitter account gathers all changes and posts them for you. They also have a daily technical outlook report that you can read, which is very helpful. There are occasionally small tips, such as this one: “A Breach $1725 or $1540 Will Speed the Gold Price Along in the Direction of the Breakout”.
@GoldBullionCoin - A number of investor prefer nondescript bars of gold for quick resale. But others really like a nice gold coin, especially since collector's marks can add value in some cases. If you are one of those, you can learn all you need about gold bullion coins here. They have a nice bit of information and hourly updates on Gold Eagles, Gold Maples, Philharmonics and more.
If you are looking for a safe investment (and who isn't?), then gold is the way to go every time. All you need to do is keep up on the latest news, and Twitter makes it easy for you.
About the author: Jessy Troy is a finance and social media blogger for Sexy Social Media, the social media news blog.
Image: Clever Cupcakes; "Twestival Montreal Cupcakes", CC BY 2.0