The capitalistically driven markets of today have created a thriving ecosystem for buyers and sellers of gold worldwide. There are many choices for buyers from all backgrounds, and you can easily invest in exchange traded funds, gold stocks, physical gold bars, or even gold-backed cryptocurrency. The choice is entirely yours.
Most investors ask themselves a relevant question: why bother with gold when there are far too many modern economic outlets to expand your wealth? Compared to the tech stocks of Facebook and NVIDIA, isn’t gold a more outdated alternative? Isn’t it time we started treating it as such?
Not quite. Gold still remains a highly valued asset, and we’re not talking about the shiny luster part either. Gold is like physical money that retains unparalleled monetary value unlike any other commodity. The yellow bar retains its usefulness where money fails, which is part of the reason why gold is treated as a safe haven asset.
When the stock market disappoints or when the geopolitical environment gets heated up, all investors rush to the safety of gold.
A cursory glance at the current value of gold will shed light on its relevancy. The gold price has surpassed the psychological milestone of $1,300 and are aggressively testing new areas of resistance. The momentum is being carried forward by external factors such as the rising interest rates by the fed reserve in the US, failing trade relations between the US-China, and a government shutdown by the Trump administration.
The fragility of political relationships can land the stock market in hot water, as observed by looking at the faltering stock market prices and the universally sour cryptocurrency market.
Gold Protects Wealth
Gold has protected wealth for thousands of generations, and remains protected against widespread inflation. As an example, the value of one ounce of gold in 1970 was $35. So if you had a choice to hold on to this community, you can easily trade it today for a much higher price.
An ounce of gold today is touching sky high at over $1,300. This is because the dollar has been declining due to a rough economic environment, as can be witnessed by the Fed’s confirmed dovish stance on further price hikes. Now would be the perfect time to invest in gold.
Several Ways to Own Gold
The only difference between today and several hundred years ago is that now you can invest in gold through several investment options. Whether it takes the form of jewelry, bullion, coins, gold futures, or mutual funds – gold today is definitely more affordable than it was in the past.
The best time to invest in the bullion is now. Gold will ride on the windy storms that have visited the stock market and the slow global economic growth.
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