Gold is obviously a very lucrative commodity, and like all other commodities, its spot prices fluctuate in an ongoing way. If you are looking to make a profit from speculating in the gold market, here are a few tips to help you get started.

• High Risk Business – For someone who knows little about gold to set up a business with a view to making money buying and selling gold, they are taking a big risk. The more you know about the gold market, the better your chances of being successful, and you must always operate with the principle of buying gold at less than market value, and selling for the best possible price.

• Do Some Online Research – If you are going to try your hand at making money from gold transactions, the more you know about the yellow metal, the better your chances of success. Luckily, we have the Internet at our disposal, and a couple of hours here and there will certainly paint a clearer picture of the gold market. When looking to buy or sell gold bullion Brisbane investors prefer, you can rely on an established local gold bullion dealer, as they offer the best prices and you can be sure of payment.

• Look To Buy Gold At Lower Than Market Prices – If you can manage to acquire gold at lower than market value, then making a profit is almost assured. People tend to sell gold for less than it is worth when they have an urgent need for cash, such as after a death in the family, during a divorce, or because of debt. You could, for example advertise that you will pay cash for gold, and should a person who wishes to sell quickly see this, they will likely be in touch.

• Invest In A Gold Testing Kit – This is inexpensive and will allow you to test gold for purity, and any gold that is not hallmarked needs to be tested for purity verification. The kit contains a number of acids and these react when they come in contact with gold, and this is a great method to be certain of gold purity. The average gold testing kit can verify 10,14,18 & 22k, which covers everything you are likely to deal in. There are articles you can find online that look at buying and selling gold to make a profit, and they are must-reads for anyone thinking of getting into the gold business.

• Accurate Scales – If you are looking to trade in gold, then it is essential that you have a set of accurate scales, which is quite an investment, yet it is a one-off payment that will last you for a lifetime.

One thing you will need to do is forge an alliance with a reputable gold bullion dealer, and an online search can help you with this. With a good gold bullion dealer, you can always sell whenever you wish and be sure of receiving the spot price at the time of the sale.