The tradition of buying gold in London has been a long standing one. Since the 17th century, London has been the center for the fixing of the price of gold. This was done through a group of gold traders and banks which meet in a certain area to come upon an agreement with the particular price of gold for that day. This happens twice a day: at 10:30 in the morning and at 3 in the afternoon. The set price is called as the “fix” and it becomes the standard price by which international trading on gold bases its price. So when thinking about buying gold, buying in London will give you a large amount of advantage. You will have the current running price for gold and also at the least amount of dealer’s costs.
Gold has been increasing its value for the past five years now and is still being thought to do so for the coming years so it is considered as one of the most valuable assets that one can have in his portfolio. Gold has hit its highest price at $1,600 per ounce which has produced such a strong market for sellers of gold. If you are one of those who think that gold will be an important investment against any future effect of inflation or a financial disaster in the market, buying gold will be one of the best steps that you can take towards a more secure financial standing.
The price of gold is always more than the value of your national currency and will always be a good thing to exchange for other commodities such as stocks and bonds. Experienced investors usually have a gold investment either in actual gold bullion or gold stocks which will give them a good leverage in case something not too good happens to their other investments. Aside from that, actual gold itself can be used on purchasing goods in the market. Due to its high value, even a small amount will always be able to buy something that you need in the market.
There is now a newer group which sets the value of gold in London: the Barclays capital, Deutsche Bank, HSBC, Societe Generale, and the Scotia-Mocatt, institutions which are all concerned with gold trading. So being closer to the entity which provides the cost of gold for that time period will give you a better chance for buying at the lowest price that you can have for buying gold. Even if the price does not stay that way throughout the day, it will serve as the standard by which subsequent prices of gold will move.
Precious metal sellers in London will be able to provide you with either bullion coins, bars or numismatic coins. There is a wide array of coins available even those which are produced in other countries such as the Canadian Maple Leaf, the Australian Kangaroo and the African Kruggerand in addition to the British Sovereign. They will all be sold at the current gold price and at the least seller’s cost which will give you a better advantage from buying from other sellers.