{"id":288325,"date":"2020-02-13T12:03:38","date_gmt":"2020-02-13T11:03:38","guid":{"rendered":"https:\/\/nigerianfinder.com\/?p=288325"},"modified":"2020-09-29T12:53:52","modified_gmt":"2020-09-29T11:53:52","slug":"gold-businesses-in-nigeria","status":"publish","type":"post","link":"https:\/\/nigerianfinder.com\/gold-businesses-in-nigeria\/","title":{"rendered":"Gold Business in Nigeria: How to Get Started\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0"},"content":{"rendered":"

Gold is one of those few luxury items that have not gone out of fashion over the years. Gold speaks of wealth and status. It also used to be one of the former legal tenders and has thus maintained its value, irrespective of economic situations such as a recession or currency devaluations and the rise\u00a0 of precious metals<\/a>.<\/p>\n

People buy gold in Melbourne<\/a> as a means of retaining the value of their money. One can also resell gold at an even greater price when you need money.<\/p>\n

Buying and selling gold is a lucrative business with great profits. One could start right from the comfort of one\u2019s home if one understands the basics of the business.<\/p>\n

This article provides guidelines and tips on how to sell gold<\/a> in Nigeria.<\/p>\n

\"Gold<\/p>\n

Read on below:<\/p>\n

Different ways to get into the gold business<\/h3>\n

There are different ways through which you can be involved in the gold business. These are:
\nDirect ownership: You can buy and own gold by storing them. This serves as a means of holding value in an asset.<\/p>\n

Investing in gold mutual funds: Gold mutual funds are those that invest predominantly in gold bullion or gold-producing companies. Since the gold business is a lucrative one, there is a high return on investment<\/p>\n

Flipping gold: This is when you buy gold when the price drops so you can resell for profit when the price rises.
\nOpening a reseller shop: As a reseller, you can buy second hand used gold jewellery from people and then resell
\nGold mining and sale of raw gold
\nOpening a goldsmith centre: At a goldsmith, you can provide services such as gold casting, molding, purification, customization of gold products such as bracelets, etc. get more information about gold IRAs at www.raremetalblog.com\/gold-ira-companies<\/a>.<\/p>\n

Steps to take before starting a gold business in Nigeria<\/h3>\n

Obtain Knowledge and Experience<\/strong><\/h4>\n

Trading in gold requires that you have good expertise, knowledge, and experience. You need to have a good eye for jewellery, so you can be able to differentiate the real ones from the fakes. One also needs to know the latest prices and trends in the gold business. In order to thrive in the gold business, one must also have strong negotiation and sales skills.<\/p>\n

Research on the Best Type of Gold to Invest in<\/strong><\/h4>\n

Before starting out on your gold business, ensure you take time to carry out an extensive market survey and feasibility studies on the different types of gold you can use in business, where you to source for the market and the types you can invest in.<\/p>\n

Get Experience In Gold Value Assessment<\/strong>
\n<\/strong><\/p>\n

Gold comes in different alloyed forms and weights. You must be able to evaluate how much gold is contained in a product. You must also be able to know its weight in grams or kilograms.<\/p>\n

Look for Reliable Sources to buy Gold<\/strong><\/h4>\n

Ensure you find a reliable supplier who will give you gold at a price that will guarantee you get your profit when you resell and a high return on investment. Your gold supplier must also be one to deliver on time. There are fake gold sellers so ensure you are not deceived by talk of gold that is cheap, gold is never cheap.<\/p>\n

Gold Business Promotion<\/strong><\/p>\n

Advertisement is the soul of any business. Find advert means that are suitable to your target market. This could be via print media, TV, radio or online via social media platforms or a website. It all depends on the best means to reach a wider range of your target market and what you can afford. There are several online platforms are available for affordable advertisement.<\/p>\n

Monitor Trends In Gold Investment<\/strong><\/h4>\n

The gold bullion retail specialist<\/a> explains demand, supply, market price and use of gold fluctuates, hence, you must monitor these changes and make wise and smart decisions to influence your business. \u00a0For example, the taste and demand for jewellery vary at different times of the year such as during festive seasons, etc.<\/p>\n

Buy Equipment for Gold Business<\/strong><\/h4>\n

It is always wise to get your own equipment and tools to be used in this business. Some of these equipments include those used in gold smelting, molding, weighing, testing, etc.<\/p>\n

Equipments needed to start a gold business in Nigeria <\/strong><\/h3>\n