Over the last two years, the economic repercussions of inflation have been felt by Americans at large. Inflation has not only led the Fed to increase rates of interest but also made it harder for everyday Americans to afford daily living costs.
This has prompted many investors to seek alternative ways to protect and grow their money. Gold is one of these alternatives, given its use as a store of value and safe-haven asset for centuries now. As of September 2023, investing in gold had surged to a new high, with the metal’s price also reaching new heights.
Despite this, gold isn’t well-known to most investors, which makes it hard for some to determine when they should begin investing in it. Below, we discuss common signs that it may time to invest in this particular precious metal.
Prices are shifting quickly
Gold can help investors turn a quick profit, especially when its price keeps increasing. Investors wanting to do so will have to monitor price conditions carefully as this upward trajectory may end at any given time. Additionally, it is important to note that gold isn’t a reliable investment for income production.
Inflation is hurting you
If inflation is still negatively affecting you financially, this may be a sign that you need to invest in gold. Thus far this year, inflation has increased multiple times already.
The metal can be used to hedge against inflation when the dollar’s purchasing power weakens. Until this current inflationary cycle ends, investors may benefit from buffering themselves against these conditions by introducing gold to their portfolios.
Assets in your portfolio are volatile
Assets such as bonds and stocks allow investors to earn quicker returns. However, their volatility makes them less than ideal to occupy an entire investment portfolio. Diversifying one’s portfolio using gold can provide protection because the metal generally maintains its value when those of other assets drop. Experts recommend that investors limit gold to 10% of one’s portfolio.
Unlike other investments, it’s easy to begin investing in gold. One can sell and buy gold in different forms, using a local dealer or a top IRA company online, among other ways. This is particularly important for investors who seek to capitalize on the increasing price of gold right now.
With more investors turning to the yellow metal, beginners are advised to act now while the price is still affordable. Other investors can explore adding gold stocks, such as Reunion Gold Corp. (TSX.V: RGD) (OTCQX: RGDFF), after ensuring that such a choice would meet their investment criteria.
NOTE TO INVESTORS: The latest news and updates relating to Reunion Gold Corp. (TSX.V: RGD) (OTCQX: RGDFF) are available in the company’s newsroom at https://ibn.fm/RGDFF
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