Purchase risk: gold is not an ornament

Rely on buying gold jewelry appreciation It's almost an unreliable idea.

"Many investors go to gold stores to buy 18K gold jewelry, but the gold content of 18K jewelry is only 75%, and the investment value is not large." Jin Duoli, executive vice president of Shanghai Gold Industry, told the Financial Business Daily.

Now most gold jewelry is "24K gold" or "18K gold". The gold content of "24K gold" is about 99.99%, while that of 18K gold is 75%. And the gold content of most investment gold bars is 99.99%, which is usually called "thousand gold".

Even if the jewelry you buy is "24K gold", its investment value will be greatly discounted. The reason is that once gold becomes jewelry, it is "fashion consumer goods", which is the same as most fashion consumer goods, gold Jewelry is also facing obsolescence and depreciation.

In terms of the gold price on March 28, if you buy a piece of gold jewelry in a gold store, due to different processes and prices, the price of 24K gold will generally be higher than 410 yuan per gram. If you sell a 24K gold jewelry on the same day, the repurchase price of the gold store is about 342 yuan. According to this calculation, your cost is more than 16%. If you sell it to other recycling units, the price is about 320 yuan; But if it is sold to a pawnshop, the price is lower, about 260 yuan.

In general, the principle of investing in gold is that the uglier the standard, the better the content. Of course, plain looking gold bars are also a good choice.

In addition, gold bars are also divided into investment gold bars and commemorative gold bars. Because of its simple manufacture, the design and manufacturing costs of investment gold bars are often cheaper than those of commemorative gold bars. Taking the gold bars sold by Bank of China on March 28 [2.98 2.05% Guba Research News] as an example, the price of investment gold bars "BOC Lucky Gold" is 341 yuan/g, while the price of another commemorative gold bar is 397 yuan/g.

　　 Channel risk: poor recovery

As an excellent Investment products In addition to the potential for price increase, it also needs good liquidity. Imagine that if an investor buys a gold bar at a cheap price and finds that there are many restrictions on selling it, it will also reduce its value.

Gold investors should not only pay attention to the fluctuation of gold price, but also pay attention to whether they can sell after buying. According to the reporter, at present, not every bank and gold store in the market provides gold bar repurchase business, and most banks only recycle gold sold by themselves. At present, China Merchants Bank [11.90 0.68% Gubayan Newspaper] has the lowest price of investment gold bars, 345 yuan/gram. However, China Merchants Bank is also one of the few banks that does not provide gold repurchase business. Although Bank of China, Agricultural Bank of China [2.68 1.13% stock market research report], Industrial and Commercial Bank of China [4.331.17% stock market research report], China Construction Bank [4.83 1.68% stock market research report] and Bank of Communications [4.71 1.29% stock market research report] provide repurchase business, the repurchase price is mostly about 15 yuan lower than the spot price of gold on the day of Shanghai Financial Exchange, but these banks only repurchase gold bars sold by the Bank.

In addition, some banks also stipulate that all gold bars sold can be repurchased, but gold coins and souvenirs cannot be repurchased.

　 Transaction risk: transaction cost is too high

Transaction cost is also an unavoidable barrier for gold investment. When investors buy physical gold through channels, the price is often higher than the market price, but the selling price is lower than the market price. The bid ask spread is the transaction cost of investing in gold, which is often ignored by investors.

In the market, it is the most cost-effective way to buy investment gold bars in the bank and have them repurchased by the same bank, but the selling price and recovery price of each bank are slightly different.

If an investor buys investment gold bars in CCB on March 28 at a price of 355.5 yuan and sells them on the same day, the recovery price of the bank on that day will be about 326 yuan less 15 yuan from the price of Shanghai Gold Exchange AU (T+D), and the middle difference will be 29 yuan. If gold bars are sold to some gold recycling enterprises, the price is about 310~320 yuan, and the middle price difference is 35~45 yuan. Assuming that the investment gold bars are purchased in Laofengxiang, the price of the day is 368 yuan/g, and the recovery price of Laofengxiang is the price of Shangjin AU (T+D), which is about 341 yuan, and the middle price difference is 27 yuan.