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How to buy gold and silver?

The 1930s great depression and other global economic crises have continued to push for diversification of investment.

There are many areas you can invest such as stock,How to buy gold and silver? Articles government bonds, etc. But when it comes to assets that are efficient in hedging against inflation, you have to consider precious metals like gold and silver.

In this piece, you will be getting critical information regarding how to buy gold and silver. Read along.

ETFs (Electronic Traded Funds)

This method allows you to purchase gold and silver in a liquid form. Once you make payment for your purchase, you don’t have them in your possession. They are stored in your electronic wallets online.

This system’s beauty is that you can buy and sell your precious metal with ease. And when it comes to security, you don’t have to worry about anyone breaking into your apartment to steal your precious metal. Your primary responsibility is to keep access to your e-wallet safe, and you must not disclose your login detail to any 3rd party to avoid illegal access to your online profile.

The biggest impediment against this system is the tax aspect. Tax authorities do not treat precious metals trading on this platform the same way with other ETFs. If you buy either gold or silver using ETFs, your income will be subjected to personal income tax (PIT) policies instead of capital gain tax (CGT). The implication here is that you will be paying more tax rate.

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