With the flucation of currency rate, investment in gold becomes more and more popular. Some investors don’t have free fund on hand, they begin to turn to credit card. But even with credit card, it’s still not an easy business for investing gold for profit.
Since the investment in gold is so hot, and some investors who have credit cards begin to use them for investing. They can well use the card function of withdraw amount in advance and free interest. After the gold price floats, they pay back the bill. So they can both enjoy the abundant profit and integral. Still, banks can afford you kinds of small gifts for the integral. It does make the best of both worlds.
It seems to be simple in theory, but it’s not when it operates.
The price of gold is based on the opening price plus certain charge. Most the charge is about over 10 yuan. So if you want to win profit, there should be equivalent up-float in price. Gold is not product of “much profit in short time”. They may perform well in certain good market situation. The minimum unit for least investment is often 10g. You need quantity of at least scores for mcuh possible profit. Based on the price now, it is a large sum in capital.
The interest free period is minimum 25 days to maximum 50 days. While, all banks don’t have gold provided immediately. Investors need to wait for about 20 days after they pay. And the interest free period begins right on the day. So they have to consider the following factors. Which day they consume is with the longest interest free period? How many price up-float will bring them profit? Does it surpass the interest free period for the capital to reach the account within 5 to 7 days?
So, by consideration from all factors, it’s not an easy business as you imagine to invest in gold by credit card. You can try some gold fund for instead. Maybe it is a better choice.
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