Martin Grosz
07/02/2021 6:02 AM
Clarín.com
Services
Updated 07/02/2021 7:11 AM
Decades pass and gold does not lose its
historical appeal
as an investment to
shelter savings
, escaping from the ups and downs of the peso and also from "hard currencies."
Even new ways of betting on this precious metal are emerging.
In Argentina there are several ways to
buy gold
.
Each one has its peculiarities, requirements and risks.
But all of them fulfill the objective sought: to tie the luck of an available capital to that of a well recognized throughout the world and with an
international price
.
As with any
commodity
, the price of gold (as well as that of soybeans or oil) has
fluctuations
.
But those who aim for the
medium term
and
know how to wait
can make notable gains.
The current global value of an ounce of gold, for example, fell in June.
And yet its price today is
35% higher in dollars
than it was
two years ago
.
The bars most sought after by investors are those of maximum purity, marked with the index "999.9".
Photo: Reuters.
The most
traditional
way
to invest in gold in Argentina is to acquire it
physically
in the form of bars, sheets or coins.
This requires going to the place of sale, taking
precautions
about the
real purity
of the material offered, and thinking very well where it will be kept to protect it from theft.
Now, you can also invest in gold
in indirect ways
.
Without seeing it shine, or touching it, or leaving the house, but obtaining the same profits.
This is achieved by acquiring
financial instruments
or cryptocurrencies whose values follow or replicate gold.
Here is a
guide
with what you need to know to follow each one of the paths.
1. Buy physical gold in Argentina
Gold sales offers abound.
They can be seen even on the largest e-commerce platforms.
But the risk of
falling into forgeries
and deceptions is also great, and end up receiving gold of a
purity lower
than that declared.
Buy gold in banks
Therefore, a good option -very especially for beginners- is to resort to financial entities authorized by the Central Bank, where the
authenticity
of the gold
is guaranteed
and
certificates
are granted
that later facilitate its sale in the country and throughout the world.
Of course,
there are not many banks
active in this area and there are limitations due to the exchange rate that can complicate access.
The
Banco Ciudad
, for example, has long experience in selling high purity fine gold (index 999).
It is offered in bars of 1, 5, 10, 50 and 100 grams that
are manufactured in the country
controlled by the entity itself and that can be
paid in pesos
.
Due to the high demand, the City is currently out of
stock
, but they told
Clarín
that they have new ingots in the
refining
process
and that "
soon
", in a matter of a few weeks, they will put them on sale
among their customers
with a limit of 50 grams per month per person.
Some banks, in addition to selling gold, offer to keep it in custody in their treasuries.
Photo: Bloomberg.
Other banks that offer certified gold are the Piano and the Supervielle.
The authorized operation is
in dollars
, which must be debited from a savings account.
In the case of the
Supervielle
, the possibility is also open to non-clients.
The bars -
of
Swiss gold
of the highest purity (999.9 or 24 carats) - are
ordered online
, the money is debited and the next business day the material can be picked up at a branch.
How
much does it cost to
buy gold there?
According to the values published by the entity this Thursday, July 1, you had to pay:
US $ 633
for a
10 gram
piece
US $ 1,255
for
20 grams
$ 1,933
for
an ounce
(31.1 grams)
US $ 3,078
for
50 grams
US $ 6.158
per
100 grams
Regarding the restrictions, the Supervielle advises that those who have sold securities with liquidation in foreign currency in the last
90 days
(which is done for example when buying "dollar Bolsa"), among other cases,
cannot acquire gold
.
In all cases, entities can request documentation to
justify the origin
of the funds.
Buying gold in jewelry stores
In these shops it is possible to find a wide range of
coins and
gold
bars
for sale, both national and imported, and
payable in pesos
.
To avoid fraud and problems, it is advisable to go to the
most renowned
and experienced businesses, which provide certificates of authenticity.
And also
compare prices
before buying.
Some companies post their
values online
.
In many jewelry stores it is possible to buy and sell gold.
Photo: Germán García Adrasti.
In this way, for example, it is currently possible to
get
gold products like these:
Foil
gold 24 karat
5 grams
for
$ 59,000
Coin
"Argentino de Oro" 22 carats of
8 grams
for
$ 76 thousand
Ingot
gold 24K of
10 grams
per
$ 115000
Ingot
of 24 karat gold
50 grams
for
$ 562,000
Ingot
gold 24k of
100 grams
per
$ 1,141,000
2. Invest in financial instruments linked to gold
Instead of going to buy gold, it is about going to the capital market to invest in instruments whose value moves according to the
international price of gold
.
To access these possibilities it is necessary to open an
investment account
, which is achieved free of charge and
100% online
at most banks or at a stockbroker (called ALYC) such as InvertirOnline, Puente, Rava or Bull Market , among others.
The option of investment funds
Maximiliano Donzelli
, Head of Research at InvertirOnline, explained that the
most direct
way
to "access the underlying performance of gold" is through
Exchange Trade Funds
(ETFs)
.
These are
mutual funds
that are publicly traded, that can be bought and sold like shares, and that in some cases are set up to
reflect the price
of the gold bar.
"Related to gold, the most interesting ETF is the
SPDR Gold Trust
(NYSE:
GLD
)," he said.
The "financial gold" avoids the risks of having bullion at home and is easier to sell.
Photo: Bloomberg.
What does it take to buy it?
In the case of this platform, activate an
Investment Account in the United States
with one click
and deposit money through a bond operation (the so-called "
cash settlement
").
According to Donzelli, the GLD ETF is an investment with
low costs
, good liquidity (it is easy to get out) and also "
transparent
".
"The fund contains gold bars in a standardized form, the price of which is determined according to the London Bullion Market Association, which gives it an
extremely close relationship
to spot prices," he added.
"The GLD ETF is
highly recommended
because it
has been
replicating the price of gold very well
for decades
," agreed Nicolás Litvinoff, specialist in personal finance and director of Estudinero.org.
The Cedears' Choice
Outside of ETFs, from Argentina, returns such as those of gold can also be obtained by investing in
mining companies
that are listed on the Stock Exchange.
Here the recommendation is to target Argentine Certificates of Deposit ("
Cedears
"): securities that can be
purchased
with pesos
or with dollars that follow quotes from foreign firms in global markets (here, a guide on how to buy them).
In InvertirOnline, to tie themselves to the luck of gold, they advise buying Cedears from leading miners such as
Barrick Gold (GOLD)
and
Yamana Gold (AUY)
.
Instead of buying physical gold, many buy shares in the mining companies that extract it.
Photo: Reuters.
3. Invest in cryptocurrencies that replicate the price of gold
For even more
sophisticated
savers
and into the world of digital finance, there is also and growing in the world the option to
buy "crypto gold
".
It is criptomonedas of the group of "
stable
" or
stablecoins
, unlike most famous like Bitcoin or Ethereum- are characterized by
always hold as
a traditional coin or a
certain
commodity
.
Just as there are
stablecoins
that always trade
1 to 1
with the dollar (such as Tether, DAI or USDC) and are increasingly used to save in Argentina, crypto assets have also emerged that
replicate the value of
physical
gold
(and are backed by he).
Among the
best known
digital assets
that represent the price of gold are:
-Tether Gold (XAUT)
.
It is managed by a company -Tether- that ensures that behind each unit of this "digital gold" there is an ounce of
physical gold as a backup
in a vault in Switzerland.
The system is similar to that of the "crypto dollar" USDT.
More information here.
-Pax Gold (PAXG)
.
Managed by the Paxos company, it has been around since 2019 and also
backs every "digital ounce"
with a physical ounce of gold.
It is distinguished by being
regulated
by an official body in the United States, the New York State Department of Financial Services.
More information here.
The value of "crypto gold" is backed by physical gold reserves.
Photo: AFP.
At the moment, accessing this investment is not entirely easy in Argentina, because the main local cryptocurrency "exchange houses"
do not directly offer
these
tokens
.
However, those who have already obtained bitcoins or "crypto dollars" in an Argentine site by paying in pesos or dollars (here, how to buy them), can send those cryptocurrencies to
foreign sites
to convert them there into "digital gold"
In some cases it can be done through the websites of the companies that handle the cryptocurrencies tied to gold.
Or in the many
international brokers
that already offer them, such as Binance, BTSE or Bitfinex.
MG
Look also
Dollars with "small face": why they cause arguments in the banks and the keys to make them worth 100%
From chests to cryptocurrencies, five effective methods to protect the dollars that are in the "mattress"