We all know Wall Street for being where stocks are traded and discussed, the market falling and rising, and stock brokers literally at the height of stress trying to predict the outcome of the value of a certain company’s trading points. It’s starting to look and feel a bit different, especially with what transpired last year in 2020. Gold now has a proper place and lives on Wall Street. In August of 2020, gold’s price per ounce broke the $2,000 barrier paving the way for all types of investors to run to the precious metal. Having noticed this, President Biden and his administration are trying to incorporate more ways for investors to invest into precious metals and other affiliated companies. The gold executives at Allegiance Gold have been able to preserve the wealth of many people and continue to educate on all the changes in the precious metals industry. With the year gold had in 2020, any investor needs a guide to really get a perspective on how the precious metal can help their retirement portfolio. Make sure to ask us about our FREE gold guide.
Gold mining companies that are trading on Wall Street saw surges of over 50% last year. This caught the eyes of all types of investors to question whether or not gold companies were a good investment. Ultimately, investors fled and invested heavily both in precious metals and into gold companies like VanEck Vectors Gold Miners ETF.
With the overall success of gold in 2020, another gold bloom could be on the horizon and here are some reasons that the price of gold could be affected and have gold soar like it did in 2020.
The price of gold roared throughout the first half of 2020, but started to lose some steam heading into the Fall months. Once the second stimulus package made it’s way to congress, gold began to climb once again. The economy is still in a massive rebuild phase, and Americans are still trying to find jobs or other ways to put food on the table. There could be another stimulus package on the rise, and this could benefit the price of gold.
Gold Mining Companies
Gold mining companies that traded last year on Wall Street saw potential that they have only dreamed of. With mining companies continuing to drill, and gold becoming even more rare, investors who invested in gold mining companies on Wall Street saw returns of over 1,000%. The reason being is that these types of companies offer better risk versus reward scenarios. For investors whom are used to investing into the stock market, it is wise to monitor some of the medium to smaller gold mining companies as they could eventually soar in price.
With all the possibilities that gold can bring to you, it can be hard to decide for yourself which investment route to take. The executives at Allegiance Gold have been educating clients on the effects of gold for many years. Many retirees have been able to not only survive off their retirement savings, but thrive in these troubled and pandemic times with the investments made in a gold IRA. Call Allegiance Gold today and get your free gold guide on how to preserve your wealth.