As a businessperson, who is dealing with this kind of mine you need to know the current price it is selling at for you to identify the profits you will make. This will help to anticipate on the best time to sale your product. It will also help you determine the market to target. The internet will help in this research.
This is a risky business and many people are using fake products to trade. You must produce your identification card when trading. This is a law requirement that you need to adhere to each time you are selling or buying the product. This will help in catching the criminals in the market. Make sure you carry your identification documents when going to this market.
If you are selling to individuals in a party, you might not make much as the market is small. Consider selling to dealers who buy in bulk like the jeweler and intermediaries who buy to resale. This will help increase the level of your income. Always target the right market that will help you yield more profits. Take time and study the available markets.
Consider eliminating the intermediary to make as much as you can from every sale. This means you have to change the distributions system. Having access to individual buyers instead of using intermediaries is more profitable. Also, try taking some of the services and processes in house. It will help cut costs.
Wise investors do not pull all their money in one portfolio. You need to do the same, invest in different businesses. The price of the metal varies with its availability and market. You might find your business is operating at a loss if you do not take care you might end up bankrupt. You need to have some security for your business.
Consider a new form of investment known as bullion bars. These are gold bars, which can be broken down and repackaged into smaller sizes for disposal. Selling in small is leads to higher margins and thus the more one sells the more profit they make. Most buyers prefer it in small weights thus one is assured of a huge market if they consider investing in this. Occasionally you will find those who need large sizes and all you need to do is customize the final product to be exact, as they need it.
From the above it is clear that gilt trading is profitable and risk business. Take your time and study on the activities in this industry. It is a dangerous field, let the relationship with your customers and suppliers be professional to avoid conflict of interest. This is the advised method of excelling in this business.