4 timely benefits of gold investing to know now
When investing, the timing is almost as important as the individual investment. Homebuyers know this already, as the timing surrounding a purchase can ultimately determine whether they make or lose money on their home. However, the timing around some other assets isn't always as clear. And, with stubborn inflation and higher interest rates muddying the waters, it can be difficult to determine which investments are valuable now and which aren't.
One such investment many have turned to in 2023 is gold. In fact, gold investing hit an 11-year high earlier this year. While, at first glance, this may be hard to decipher, upon a closer look it's clear that there are multiple timely benefits of gold investing right now, some of which could be beneficial for you.
Learn more about this unique investment opportunity here now.
4 timely benefits of gold investing to know now
Here are four big benefits of investing in gold currently:
A hedge against inflation
Gold is historically known for the buffer it can provide against inflation. And as the latest report demonstrated, inflation remains stubbornly unmoved. In fact, inflation in September was the same as it was in August — and it ticked up both in August and July. Fortunately, gold tends to hold its value during times of inflation. This can be especially valuable, as inflation erodes the purchasing power of the dollar. So with inflation still sitting above the Federal Reserve's target 2% goal, now is a smart time to invest in the precious metal.
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A portfolio diversifier
Gold can also help diversify an investment portfolio otherwise made up of stocks and bonds. While the latter two assets can be great and help produce some income, they're also volatile, particularly in recent months and years. Gold, then, can help diversify your portfolio by keeping the overall value steady when other assets look shaky.
It's not a fool-proof investment strategy, of course, but it's certainly worth exploring now when other investments are not as relied upon for steady returns.
A tangible asset
You can't physically hold and store stocks or bonds. But you can with gold. Gold is a tangible asset, whether it's in the form of gold bars, coins, jewelry or something else.
While this may not be the plus it is for some investors, it's still a timely benefit for many, particularly when other assets continue to falter and underperform. By having gold in a tangible form, you can rest easy knowing that your investment is close by and easy to sell or buy more of — without the constraints some other investments come with.
A lower price
The gold price today is $1,973 per ounce. While that's ticked up significantly in recent weeks, it's still lower than what it was in the spring when it hit $2,048 per ounce.
That said, the price is likely to increase in the days and weeks to come due to a series of factors ranging from seasonality to increased interest if interest rates head up again. So if you want to get in with a better price to potentially sell at a profit long term, now is a good time to get started.
Explore all of your gold investing options here now.
The bottom line
While gold has traditionally been viewed as a reliable investment, for many it can be particularly advantageous now. That's due to its ability to hedge against inflation and provide some diversification for an otherwise volatile portfolio. But it's also tangible, meaning you can easily buy, store and sell it as desired. And the price is slightly lower than it had been in recent months, making now a better time to invest before the prices head upward again. For all these timely reasons and more, a gold investment could make sense for you today.
