3 groups that should buy gold now
With high inflation and a recession looming, many Americans find themselves re-evaluating their personal finances and investments. The cost of many products is higher than they were just a year ago, so it's understandable that many consumers are looking to cut corners.
They also may be looking to reduce their investments in traditional vehicles (following poor stock market performance) and move their money elsewhere. One alternative that investors may be looking into, particularly due to its traditional performance during times of inflation, is gold.
Gold is a unique investment with unique advantages. But, like all investments, it's not for everyone. A select few groups may benefit from buying gold now.
If you think you're in one of those groups, or just want to learn more about gold, you can easily get started now with a free wealth protection kit.
Who should invest in gold now?
Not every investor should pursue gold. But some people may benefit from moving forward in the current economic climate. Here are three types who may want to act now.
Young people
Gold is often thought of as an investment made by older people but it's actually younger people who should consider buying gold. That's because older investors generally need to rely on income-producing investments. Younger people can take a "set it and forget it" approach to gold since they likely already have income coming in each week from their job.
Another reason gold is better for younger people? Risk. In short, younger investors can typically absorb losses on their investments better than older people. A poor investment for someone older can be particularly devastating if they don't have alternative financial support.
If you're young and looking for a different way to make money in this economic environment gold may be for you. Get started now.
Those who want to diversify their portfolio
As mentioned above, with a poor stock market performance in 2022, investors may be desperate to rearrange their allocations. While the stock market will inevitably rise again, no one knows when or for how long. In this environment, it may be worth experimenting with gold.
This is not to say that you should shift all your investments into gold. Or even most of them. But a wider diversification can help.
Edward Karr, the founder of U.S. Gold Corp., recently told CBS News that just a small percentage dedicated to gold mining equities or physical gold could potentially help "reduce an overall portfolio's risk and potentially increase the long-term returns."
Those fighting inflation
Granted, most Americans are dealing with the pain of inflation. Not all of those people need to invest in gold. But if you fall into one or both of the above groups then you can probably use the help gold provides against inflation, too.
Research from the World Gold Council notes that when the inflation rate starts to outpace interest rates (as we are currently experiencing) then commodities like gold may outperform some traditional financial assets.
Is gold "inflation-proof," as some experts have historically suggested? That's unlikely. Economic headwinds are unpredictable, especially now. But it can't hurt to investigate your options. A gold expert can help you now.
The bottom line
Gold is a unique investment opportunity. But that doesn't make it beneficial for everyone.
If you're in one of the above groups, however, or simply want to try your luck with a new investment, it may make sense to act now before you get priced out. Start by talking with a gold expert today.
