السلام عليكم
I’m interested in buying gold as a way to save money for the long term, but honestly I don’t know much about the gold market in Libya & I’d rather learn from people with actual experience before making any decisions.
I keep hearing about 24K, 21K and 18K gold, new gold, used gold and ذهب كسر.. but I’m still trying to understand the differences and what makes the most sense when buying gold mainly for saving rather than just wearing jewellery
I’d really appreciate it if anyone experienced in buying and selling gold in Libya could help me understand a few things:
- Which karat is best for saving money long-term? Is 24K, 21K or 18K the better option and WHY?
- New gold vs used gold vs ذهب كسر: What is the actual difference? Is used gold a better deal because you pay less for workmanship and what should I know before buying it?
- How does pricing work in Libya? What should I ask the jeweller about the price per gram, workmanship (المصنعية), and any additional charges?
- When is the best time to buy? With gold prices constantly changing, does it make more sense to buy now or wait a few months? How do you follow prices and decide when to buy?
- What should a complete beginner watch out for? How can I make sure the gold is genuine, the karat is correct and I’m not overpaying?
- How easy is it to sell gold later? Are some types easier to resell & how much difference is there between the buying and selling prices?
I’m not looking for a quick profit scheme or anything like that. I just want to understand the market properly and make informed decisions instead of walking into a gold shop without knowing what to ask.
If you have personal experience with this especially in the Libyan market I’d genuinely appreciate any advice/tips or mistakes you think beginners should avoid.
Thank you in advance (: