A NEW GOLD RUSH – TOP THREE MOVES INVESTORS ARE MAKING RIGHT NOW TO MAXIMIZE THEIR PROFITS
Gold just broke its 20-year record and ing at over $1,900 per ounce. The precious metal has reached an all-time high as worries about the global economic growth supported this safe-haven demand.
Growing indicators that the pandemic crisis is stalling any economic recovery as well as the rising tension between China and the US are further supporting demand for gold. Bullion is now at a consistent seventh weekly gain which is the longest stretch since 2011.
Precious metals, in general, have been a hot trend as we’re also seeing silver poised for its biggest weekly advance in almost 40 years. Silver has nearly doubled its value from $11.63 in mid-March 2020 to breaking the $23 spot in July 2020 and is expected to keep soaring to new levels.
This is not coming as a big surprise to anyone who has really followed the market. Similarly to the 2008 economic crisis, we’re seeing a weaker dollar, negative real rates, geopolitical uncertainties, with a caveat of worries about the economic cost of the health crisis. All this has put silver and gold on track for their biggest annual gain in ten years. Analysts are now forecasting a $2,000 near-term reach for gold by the end of September given the market trends of utilizing this hedge to diversify the portfolios. Which brings us to key moves investors are making to secure their assets and maximize gains.
1. INVEST IN PRECIOUS METALS IRA
Gold IRAs appeal to investors who want a diversified retirement portfolio. The purpose of diversifying your 401(K) or IRA is to protect your retirement and overall finances from market volatility. By adding a consistently proven commodity such as gold, you are strengthening your portfolio with a low-risk investment that will continue growing in value while major currencies may depreciate with time.
2. ROLL OVER RETIREMENT PLAN
If you already have a 401(K), Sep or Roth IRA, or annuities, rolling over an existing retirement plan with a reputable company is simple and efficient. There are no government-sanctioned rollover or transfer fees to move over an existing traditional IRA to a precious metals IRA account like a Gold IRA. This tax-free process converts part of an existing retirement account or your investment portfolio into bullion coins or bars, as a hedge against economic uncertainties and inflation.
3. BUY PHYSICAL GOLD
Some investors choose to have physical gold or other precious metals as another way to invest in this popular safe haven. It’s a tangible commodity that you can hold and liquidate at any given moment. It continues to grow in value – over 250% since the 2008 market crash as well as 20% over the past few months alone. It is predicted to surpass the $2000 before the end of the year and continue to surge in 2021.
Studies show that retirement investors working with knowledgeable financial advisors tend to double their profits and assets compared to those who try to handle their own retirement financial planning. Portfolio hedging and diversification is your best bet to maximize profits and minimize losses navigating through adverse market trends and price swings.