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The economic climate is uncertain right now. Inflation is slowing, the Federal Reserve is about to cut interest rates, and there are fears of a recession if unemployment continues to rise. All of this can make investing a little tricky right now.
Fortunately, invest in gold does not fall into the same camp. Long considered a active refugeGold is a stock that investors turn to in times like these.
“The gold market offers a great opportunity to hedge against the dollar,” said Nick Fulton, managing partner of USA Pawn Stores of Mississippi and president of the Mississippi Pawnbrokers Association. “The price of gold has increased more than 27% in the last year.”
You can Investing in gold in several waystoo. But which ones are the best in today’s uncertain economy? Below, we’ll break down some of the types of gold that experts recommend investing in today.
Explore your best online gold investment options here.
What are the best gold investments in an uncertain economy?
Not sure what type of gold to invest in right now? Here are some that experts recommend right now:
Physical gold
The first, and probably most obvious, option is to buy physical stocks. gold bars and coins. This is a good option if you are looking for a inflation hedge or a smart way to store wealth.
“For those seeking a safe haven, storing physical gold at home provides peace of mind in the face of financial instability or currency debasement,” says Ben Nadelstein, chief content officer at Monetary Metals, the precious metals marketplace. “Gold’s low correlation to stocks and bonds makes it a powerful stabilizing force in a portfolio, even with a small allocation.”
It is also easy to find and buy (you can even buy it on Costco) and, generally, just as easy to sell.
“When you’re investing in physical gold, bullion is very easy to acquire,” says James Cordier, a commodities expert and founder of the Cordier Commodity Report. “The 1-ounce, 10-ounce and 100-ounce sizes are generally quite liquid when it comes to buying and selling.”
Get started now with gold bars and coins here.
Gold ETF
Gold Exchange Traded Funds (ETFs) Mutual funds are another smart way to invest in gold right now. These are mutual funds that allow you to invest in a variety of gold-related assets at once.
Although they are traded on exchanges like stocks, they have less volatility due to their more varied assets. They also diversify your portfolio without you having to decide on individual investments independently.
To get started with ETFs, you’ll need a brokerage account, but this is often less complicated than buying bars or coins, especially if you’re limited on storage space.
“ETFs provide exposure to gold without the complexities of buying and storing physical gold,” says David Hollander, founder of Liberty Group, a wealth management firm in California. “Generally, commissions and sales charges are lower in a brokerage account than in a physical retail account.”
IRA in gold
Finally, there is IRA in goldthat allow you to invest in gold to save for retirement. These are types of retirement accounts that you can use to purchase both gold and various other precious metals.
You have to open them through Gold IRA companies — technically called custodians. You will then fund your account and your custodian can then purchase gold and other commodities on your behalf. The assets are then stored in an approved custodian.
One of the benefits of these solutions is that you can use either traditional or Roth IRAs for this purpose. This means you can fund your investment with pre-tax or after-tax dollars, whichever is best for your long-term plans.
Learn more about your online gold IRA options today.
Get professional advice
There are many ways to invest in gold, and the right choice depends on your goals, budget, risk tolerance, etc. To ensure you choose the best option For your finances, talk to an investment professional. They can point you in the right direction.
