In 2024, gold prices have surged, reaching a peak of $2,472 per ounce this week. As of July 18, 2024, the price is slightly lower at $2,468 per ounce. This rise has attracted investors for its inflation-hedging and portfolio diversification benefits.
Experts recommend three main gold investment strategies:
Buy Gold Coins: Physical bullion coins from government mints offer security and value based on weight and purity.
Invest in Gold ETFs and Mutual Funds: These provide liquidity and easy trading, with some funds offering leveraged exposure to gold miners.
Open a Gold IRA: This option diversifies retirement portfolios with tax-deferred growth and a hedge against global turmoil, though it involves specific IRS regulations.
"Any pre-tax investment is worth checking, so I think it is worth it," says Luciano Duque, chief investment officer of C3 Bullion. "It can certainly become the gold allocation of a portfolio. What I don't like is that it's a bit cumbersome because the investor needs to deal with a gold dealer, a custodian, and a depository. As such, the investor cannot simply buy gold bars and take it to the IRA account—it requires a special procedure."
Choosing the right strategy depends on individual investment goals.
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