首先,有關「金要擺去邊」嘅問題,投資者主要有以下呢啲選項<ref>[https://goldinvestopedia.com/storing-and-securing-your-physical-gold-investment/ Storing and securing your physical gold investment]. ''Gold Investopedia''.</ref>:
首先,有關「金要擺去邊」嘅問題,投資者主要有以下呢啲選項<ref>[https://goldinvestopedia.com/storing-and-securing-your-physical-gold-investment/ Storing and securing your physical gold investment] {{Webarchive|url=https://web.archive.org/web/20240216002653/https://goldinvestopedia.com/storing-and-securing-your-physical-gold-investment/ |date=2024年2月16號 }}. ''Gold Investopedia''.</ref>:
金係一樣好有價值嘅物品,有價值就實會有人嘗試造假。假金呢家嘢,據講早喺約莫公元前 600 年已經存在,人類喺歷史上一路都有研究點樣對抗假金,例如據講喺廿世紀前嘅[[歐美]],啲人收到金嗰陣好多時都會{{ruby-yue|𦧲|loe1}}啖口水落嚿金度,再攞嚿金去搵啲嘢磨吓,睇吓會唔會磨甩嚿嘢最外嗰浸金「露出個餡」。而喺 19 世紀中開始,歐美人就有用現代科技檢驗金嘅真偽<ref name="fakegold">[https://goldbroker.com/investing-guide/counterfeit-gold-how-to-spot-fake-gold Counterfeit Gold: How to Spot Fake Gold?]. ''Gold Broker''.</ref>。
金係一樣好有價值嘅物品,有價值就實會有人嘗試造假。假金呢家嘢,據講早喺約莫公元前 600 年已經存在,人類喺歷史上一路都有研究點樣對抗假金,例如據講喺廿世紀前嘅[[歐美]],啲人收到金嗰陣好多時都會{{ruby-yue|𦧲|loe1}}啖口水落嚿金度,再攞嚿金去搵啲嘢磨吓,睇吓會唔會磨甩嚿嘢最外嗰浸金「露出個餡」。而喺 19 世紀中開始,歐美人就有用現代科技檢驗金嘅真偽<ref name="fakegold">[https://goldbroker.com/investing-guide/counterfeit-gold-how-to-spot-fake-gold Counterfeit Gold: How to Spot Fake Gold?]. ''Gold Broker''.</ref>。
廿一世紀嘅黃金投資界不溜都有關注開假金問題<ref>[https://www.cnbc.com/2020/03/06/as-gold-prices-gather-momentum-scammers-are-looking-to-capitalize.html As gold prices gather momentum, scammers are looking to capitalize]. ''CNBC''.</ref><ref>{{zh-hk icon}} [https://www.hkjga.hk/certification-mark-hk/ 優質足金標誌],香港珠石玉器金銀首飾業商會</ref>。要防範假金,最直接嘅做法係淨係幫襯規模同名氣都有返咁上下嘅交易商:呢啲交易商有雄厚嘅資本同人材,有嚴格嘅基準,檢驗自己買賣嘅金,而且一般嚟講,佢哋都會想保護自己嘅名聲,亦唔想假金搞到啲人對黃金喪失信心,所以佢哋有能力亦有強烈[[誘因]]想確保自己啲金係堅嘅。除此之外,投資者仲可以採取以下呢啲措施<ref name="fakegold"/>:
廿一世紀嘅黃金投資界不溜都有關注開假金問題<ref>[https://www.cnbc.com/2020/03/06/as-gold-prices-gather-momentum-scammers-are-looking-to-capitalize.html As gold prices gather momentum, scammers are looking to capitalize]. ''CNBC''.</ref><ref>{{zh-hk icon}} [https://www.hkjga.hk/certification-mark-hk/ 優質足金標誌],香港珠石玉器金銀首飾業商會</ref>。要防範假金,最直接嘅做法係淨係幫襯規模同名氣都有返咁上下嘅交易商:呢啲交易商有雄厚嘅資本同人材,有嚴格嘅基準,檢驗自己買賣嘅金,而且一般嚟講,佢哋都會想保護自己嘅名聲,亦唔想假金搞到啲人對黃金喪失信心,所以佢哋有能力亦有強烈[[誘因]]想確保自己啲金係堅嘅。
*[[股票]]:買股票即係買一間[[公司]]嘅擁有權;股票靠嘅係間公司賺錢自己有份分,而黃金靠嘅係等金價升;一般認定,黃金同股票都係屬於[[市場流通度]]高嘅資產,可以話賣就賣,分別在於股票被指比較高風險高回報—黃金冇咁容易受市場波動影響<ref>[https://academy.musaffa.com/gold-vs-stock/#:~:text=Stocks%20offer%20growth%20and%20income,approach%20to%20risk%20and%20reward. Gold vs Stock Market: A Comparative Guide]. ''Musaffa''.</ref>,但係有研究者指出,如果冇咩特別嘅經濟不穩,股票嘅回報(講緊由 30 年嘅時間尺度睇)可以係黃金嘅 2.7 倍咁多<ref>[https://www.investopedia.com/ask/answers/020915/has-gold-been-good-investment-over-long-term.asp Has Gold Been a Good Investment Over the Long Term?]. ''Investopedia''.</ref>。
*對比[[股票]]:買股票即係買一間[[公司]]嘅擁有權;股票靠嘅係間公司賺錢自己有份分,而黃金靠嘅係等金價升;一般認定,黃金同股票都係屬於[[市場流通度]]高嘅資產,可以話賣就賣,分別在於股票被指比較高風險高回報—黃金冇咁容易受市場波動影響<ref>[https://academy.musaffa.com/gold-vs-stock/#:~:text=Stocks%20offer%20growth%20and%20income,approach%20to%20risk%20and%20reward. Gold vs Stock Market: A Comparative Guide]. ''Musaffa''.</ref>,但係有研究者指出,如果冇咩特別嘅經濟不穩,股票嘅回報(講緊由 30 年嘅時間尺度睇)可以係黃金嘅 2.7 倍咁多<ref>[https://www.investopedia.com/ask/answers/020915/has-gold-been-good-investment-over-long-term.asp Has Gold Been a Good Investment Over the Long Term?]. ''Investopedia''.</ref>。
*對比[[債券]]:買債券即係借錢畀人,可以靠收[[利息]]嚟賺錢;一般認為,黃金同債券最大嘅分別係黃金係「死」嘅資產,淨係有得靠「搵日金價高賣咗佢」嚟賺取利潤,相比之下債券就算唔攞去賣,都能夠慢慢隨時間產生回報<ref>[https://www.investopedia.com/articles/investing/092514/better-inflation-hedge-gold-or-treasuries.asp#:~:text=Gold%20is%20often%20hailed%20as,provide%20built%2Din%20inflation%20protection. The Better Inflation Hedge: Gold or Treasuries?]. ''Investopedia''.</ref>。
*[[債券]]
*[[房地產]]:好多投資者認為房地產係「最正嘅資產之一」,被指係波動性仲低過黃金,唔似得黃金噉可以畀人偷走,而且喺好多人心目中,置業係人生嘅重要一步;房地產同黃金比,最大嘅唔好處係流通度極低—想賣金可以隨時去搵黃金交易商,但想賣房地產往往要搞一大輪(例如淨係搵人[[睇樓]]已經大把嘢搞)先至成得到交<ref>[https://www.financialexpress.com/money/real-estate-vs-gold-what-is-the-right-investment-option-for-you-3158596/ Real Estate Vs Gold: What is the right investment option for you?]</ref><ref>[https://mindfullyinvesting.com/historical-returns-of-gold-and-real-estate/#:~:text=To%20compare%20more%20closely%20with,the%20gold%20standard%20in%201972. Historical Returns of Gold and Real Estate]. ''Mindfully investing''.</ref>。
*對比[[房地產]]:好多投資者認為房地產係「最正嘅資產之一」,被指係波動性仲低過黃金,唔似得黃金噉可以畀人偷走,而且喺好多人心目中,置業係人生嘅重要一步;房地產同黃金比,最大嘅唔好處係流通度極低—想賣金可以隨時去搵黃金交易商,但想賣房地產往往要搞一大輪(例如淨係搵人[[睇樓]]已經大把嘢搞)先至成得到交<ref>[https://www.financialexpress.com/money/real-estate-vs-gold-what-is-the-right-investment-option-for-you-3158596/ Real Estate Vs Gold: What is the right investment option for you?]</ref><ref>[https://mindfullyinvesting.com/historical-returns-of-gold-and-real-estate/#:~:text=To%20compare%20more%20closely%20with,the%20gold%20standard%20in%201972. Historical Returns of Gold and Real Estate]. ''Mindfully investing''.</ref>。
*對比其他[[貴金屬]]同[[寶石]]:好多貴金屬同寶石都可以買嚟做投資—好似{{ruby-yue|[[鉑]]|bok6}}、[[銀]]同埋多種嘅寶石都好似黃金噉,有返咁上下[[稀缺]]之餘又有工業用途,所以會「永遠有需求,永遠或多或少有啲價值」。唔同金屬同寶石嘅特性可以好唔同,例如銀就被指係個價同股票債券有比較強嘅正相關,所以銀嘅[[多角投資|多角化]]效果冇金咁強<ref>[https://www.morganstanley.com/articles/investing-gold-silver-decision-guide-challenger?adobe_mc_sdid=SDID%3D61422F9253F48392-236A404DC75C1565%7CMCORGID%3D9355F0CC5405D58C0A4C98A1%40AdobeOrg%7CTS%3D1708759957&adobe_mc_ref=https%3A%2F%2Fwww.google.com%2F Gold vs Silver: 4 Key Differences You Should Know],[[摩根士丹利]]。</ref>。
*其他[[貴金屬]]同[[寶石]]
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|File:HK 佐敦 Jordan 庇利金街 Pilkem Street shop jewellery goldsmith window evening July 2022 Px3 02.jpg|<center>2022 年喺香港[[佐敦]]影到嘅金飾</center>
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==睇埋==
==睇埋==
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*Hafezi, R., & Akhavan, A. (2018). [https://miscj.aut.ac.ir/article_2827_9dfae0734b49615b4ab52ed19ca28d6f.pdf Forecasting gold price changes: Application of an equipped artificial neural network] (PDF). ''AUT Journal of Modeling and Simulation'', 50(1), 71-82,呢篇文講到用[[人工神經網絡]]預測金價。
*Hafezi, R., & Akhavan, A. (2018). [https://miscj.aut.ac.ir/article_2827_9dfae0734b49615b4ab52ed19ca28d6f.pdf Forecasting gold price changes: Application of an equipped artificial neural network] (PDF). ''AUT Journal of Modeling and Simulation'', 50(1), 71-82,呢篇文講到用[[人工神經網絡]]預測金價。
*[https://www.ssga.com/library-content/products/fund-docs/etfs/us/insights-investment-ideas/spdr-invest-in-gold.pdf Invest in Gold A Portfolio Diversifier With Staying Power] (PDF) - SSGA,[[道富環球]]嘅 2023 年黃金投資白皮書。
*[https://www.ssga.com/library-content/products/fund-docs/etfs/us/insights-investment-ideas/spdr-invest-in-gold.pdf Invest in Gold A Portfolio Diversifier With Staying Power] (PDF) - SSGA,[[道富環球]]嘅 2023 年黃金投資白皮書。
黃金同第啲物品一樣,個價由市場嘅供應同需求帶動,不過一般認為黃金算係一種穩定嘅資產:想像而家阿明使咗筆錢,買 A 公司呢間新創企業嘅股票,後嚟 A 公司盤生意唔掂,破產收場,阿明手上揸嘅股票就會變到一文不值—佢盤投資乜都冇得淨;相比之下,黃金可以用嚟造好多嘢—銀仔、珠寶同電子元件等嘅嘢係人類社會一路都需要嘅[註 2][3];而噉就表示,人類對黃金永遠梗會有股需求,永遠有需求就表示個價低極有限;另一方面,黃金嘅供應頗為穩定,唔似得例如銀紙噉政府有得話印就印[註 3]。需求同供應都穩定,就表示市場價值都會有返咁上下穩定—因此,揸黃金難有大損失,黃金廣泛噉被視為一種比較穩陣嘅投資,名目價值會隨住經濟增長而穩定噉上升[4]:2,好多投資者面臨經濟形勢不穩或者通脹嗰陣都會選擇揸黃金,保障自己嘅財富。
黃金嘅相反 ETF:指個 ETF 係專登設計到同金價成反比嘅,如果金價跌佢就會賺;要理解呢樣嘢嘅原理,可以舉個簡化例子—想像個 ETF 嘅管理者預金價嚟緊會跌[註 7];佢然後用期貨嘅方式,講好會喺一個月後將手持嘅金賣畀阿明,講定咗之後,佢跟手就將手持嘅金賣畀阿偉,得到 X 咁多錢;而等到臨要交貨畀阿明之前,位管理者就再使 Y 咁多錢買一啲金返嚟,用呢啲金交貨;如果金價喺呢段時期之間跌咗,Y 嘅數值會細過 X —位投資管理者就成功幫個基金賺咗錢。
Bampinas, G., & Panagiotidis, T. (2015). Are gold and silver a hedge against inflation? A two century perspective. International Review of Financial Analysis, 41, 267-276.
Ghosh, D., Levin, E. J., Macmillan, P., & Wright, R. E. (2004). Gold as an inflation hedge?. Studies in Economics and Finance, 22(1), 1-25.
↑ 5.05.1Erb, C. B., & Harvey, C. R. (2013). The golden dilemma. Financial Analysts Journal, 69(4), 10-42.
↑How do Interest Rates Affect the Price of Gold and Silver?. Physical Gold,佢講咗呢段:"Traditionally, gold prices often decline when rates rise. This is due to higher yields on fixed-income assets like bonds, diminishing the appeal of non-yielding metals."
↑Gold Price History: Highs and Lows. Investopedia,佢講咗:"As gold deposits become harder to reach and more scarce, the cost will tend to rise. At the same time, new mining and extraction technologies can work in the opposite direction, making it more efficient and cost-effective."
↑Hafezi, R., & Akhavan, A. (2018). Forecasting gold price changes: Application of an equipped artificial neural network. AUT Journal of Modeling and Simulation, 50(1), 71-82.
↑Medo, M., Yeung, C. H., & Zhang, Y. C. (2009). How to quantify the influence of correlations on investment diversification. International Review of Financial Analysis, 18(1-2), 34-39.
↑Goetzmann, William N.; Rouwenhorst, K. Geert (2005). The Origins of Value: The Financial Innovations that Created Modern Capital Markets. Oxford University Press.
↑Ferguson, A., Feigin, A., & Kean, S. (2013). Gold mine feasibility study disclosure in Australia: Determinants and implications. Resources Policy, 38(1), 8-17.
↑ 25.025.1How To Invest With Dollar Cost Averaging. Forbes. "Dollar cost averaging works because over the long term, asset prices tend to rise. But asset prices do not rise consistently over the near term. Instead, they run to short-term highs and lows that may not follow any predictable pattern."
↑Dollar Cost Averaging. GoldPriceForecast.com. "The stronger the bull market in a particular sector is, the more costly the dollar cost averaging becomes. It may be more difficult from the psychological point of view for one to purchase all of their bullion at once, but in the end it should prove profitable in most cases."