Why Should You Invest In Gold?

Gold is a symbol of wealth and during hard times it is considered one of the best investments. Many people have actively kept gold whether in a vault or hidden safe in their homes. It is much better to keep your money in gold rather than in banks to counter the inflation rate that just keeps on rising from the year onwards.

You should probably see my post before Top 10 Countries with Most Gold Reserves in the World and these countries know the importance of keeping gold.

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Here are the benefits of having gold and why you should invest in gold.

1. Gold as Real Savings

O you who have believed, indeed many of the scholars and the monks devour the wealth of people unjustly and avert [them] from the way of Allah. And those who hoard gold and silver and spend it not in the way of Allah – give them tidings of a painful punishment.

- (At Taubat, Verse 34)

As Muslims, it is important for us to have our own savings and it is stated in the Quran that gold and silver are considered the mediums of savings.

It is also crucial for Muslims to use the money towards the right path by giving to those in need as well as paying 'Zakat' which is tax if they fulfill the requirement to do so.

2. The Price Keeps on Increasing

Credit: GoldHub

If we were to look at the trend of the gold price, it has not dropped much for the past 5 years but only increase gradually. If we were to compare that to keeping money in fiat then we would have to consider the inflation rate that keeps on increasing each year.

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$1 for a cup of coffee today might not be the same in 10 years' time as you might need 3 times the money to get the same thing.

3. An Asset Everybody Can Own

Gold is considered a physical asset that is very affordable in comparison with real estate where you will need a bigger capital to buy.

You can buy from as low as 1g of gold so it does not matter how much money you have, you will still be able to buy gold in the end.

It is not just valuable but also can be owned by anyone in the world. It is legal as long as you don't steal it of course.

4. Gold is Accepted Globally

Despite buying the gold from the UK, you will still be able to sell in the US. I believe most countries in the world will accept gold but there might be a slight difference in terms of the price you sell it for.

In the end, you will still be able to cash out the money from the gold in case of times of need.

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5. Can be Turned Into a Business

You can become an agent for any gold company out there and sell the gold for profit. You will also get commissions for each gold sold. Gold also has many intrinsic values making it a suitable raw material for making jewelry, electronic parts, and even furniture covered in gold.

But bear in mind that only pure gold will have a true value.

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