Right now, the US is experiencing relatively high inflation levels while higher interest rates are adding pressure to the banking sector. The recent collapse of Silicon Valley Bank has caused a renewed surge in gold prices.
There are many other reasons why gold may continue to rise, but as with all investments, it has risks. Consider all the potential reasons (positive and negative) that you think this may be a good investment for your risk level.
A gold IRA is an attractive option for investors looking to protect their wealth with precious metals. A gold IRA lets you invest in physical gold or other approved precious metals within your retirement account.
Gold has a long history as an accepted form of payment, and its worth is usually maintained over the years. Owning physical gold gives you the security of having tangible assets that can be sold or traded quickly if needed.
When buying physical gold coins, it’s important to make sure you are purchasing authentic bars or coins from reputable dealerships. You should also consider storage costs when deciding how much gold to buy; storing large amounts of metal can be expensive.