Over time, people invest their money in various avenues to improve finances for themselves or their family members. One popular type of investment includes gold, which is the world’s currency of those today. There are several opportunities to invest in gold, including bullion, futures, mining companies, mutual funds, and jewelry. However, some people make mistakes when investing in gold, which could be detrimental to their finances. Here are seven common errors that one should avoid. Poor investment timing One of the most common things to avoid when investing in gold is making decisions based on emotions and strategy. It includes buying physical gold only when a significant economic or geopolitical crisis erupts, which makes the price jump. But, the approach might not always work because it assumes that gold is solely a crisis commodity. However, as part of a diversified portfolio, gold could be essential to an individual’s long-term investment strategy. Doing so could offer protection against inflation, currency fluctuations, and other financial uncertainties. One could miss out on potential gains that could have come from investing in gold beforehand, such as buying it before a crisis and adding gold to savings regularly. Lack of research Research helps set the groundwork for just about anything, including gold investments.