Gold prices are low. Here's why investors should buy in now.
Gold has long been considered a store of value, no matter if it was in your jewelry, your safe or your IRA. As such, many have turned to the precious metal this year as inflation and elevated interest rates designed to combat it have hurt the pockets of millions of Americans. In fact, gold investing hit an 11-year high in September as many people invested in the metal as a way to protect their broader financial health.
That said, like all other investments, there are better times to invest in gold than others. And with gold prices currently at a 7-month low, many may be wondering if now is a good time to get started. There are some compelling reasons to get invested now, several of which we will explore below.
If you're considering the benefits of a gold investment, then start by requesting a free information kit here to learn more.
Why investors should buy gold now
Here are three reasons why investors should buy gold today.
The price is low
The price of gold today is $1,822.45 per ounce. While that may seem elevated to some, it's the lowest gold has been since February, according to World Gold Council data. So, by buying in now, investors will be well-positioned for when the price inevitably rises again.
While gold is not the same sort of incoming-producing asset that others are, it still operates by the same principle of buy low and sell high. And now is a great time to buy low.
Get started with a free gold information kit today.
It can hedge against inflation
Arguably the most well-known benefit of gold, the precious metal is commonly known for providing a hedge against inflation. When your other investments are hurt by inflation, gold tends to remain steady and can potentially increase in value. And although inflation cooled earlier this year, it ticked up in July and again in August, illustrating that the economy still has a way to go to get to the Federal Reserve's 2% inflation rate target. It makes sense, then, to invest in gold to help secure your other investments.
It can diversify your portfolio
Stocks and bonds can be great investments and simple ways to make money, but they're also more vulnerable to the whims of the market. Because of this, it helps to have other assets that can diversify your portfolio and keep your overall investments steady.
Gold can easily perform that role. Just make sure to invest in the right amount. While gold investing can be beneficial for investors of all ages, the amount you should invest in the yellow metal varies, with most experts recommending a 10% cap as part of your portfolio.
The bottom line
With gold prices at the lowest they've been in months, now is a great time to get invested (there are multiple companies that can help). By investing now, you'll pay less for an investment that is bound to be worth more in the future — and you'll get a boost in the ongoing fight against inflation. Plus, it can help diversify a portfolio that may have experienced major swings due to uneven stock performance. Get started here today!
