For more than 20 years, U.S. Money Reserve has excitedly shared the benefits of owning physical precious metals. We’ve explained how during times of economic and geopolitical uncertainty, consumers tend to turn to time-tested stores of wealth.
At the same time, I’ve also shared my personal beliefs when it comes to always keeping an eye out for opportunity, especially when it comes to protecting yourself and your loved ones.
It seems that these two topics have converged at a pivotal time in world history.
Gold may be headed for record highs.
In August 2020, gold reached an all-time high of $2,072.40/oz. As of March 8, 2022, gold is trading at $2,051.70/oz.—just a few dollars short of that record.
It’s a good time to own physical gold—and if some analysts are correct, the best of times may still be ahead of us.
According to The Wall Street Journal, “As of [March 4, 2022], gold prices had climbed for 11 of the most recent 15 sessions.” CNBC reports that Reuters market analyst Wang Tao believes “spot gold may keep rising towards $2,065 per ounce” and that OANDA senior market analyst Jeffrey Halley says, “Assuming no change in the Ukraine situation, [gold] will quickly move to the $2,100 region and on to new all-time highs.” And in a recent note, Mikhail Progis, Sabine Schels and Jeffrey Currie of Goldman Sachs said, “We now upgrade our 3 /6 /12-month gold targets from $1950/2050/2150 an ounce to $2300/2500/2500 per ounce.” All three of those new predictions are above the current all-time high price gold reached in August 2020.
As demand increases for safe-haven assets like gold, prices may continue to increase. Gold has a long history of providing excellent upward potential during times like these—could it be time to further diversify your portfolio with the addition of physical gold?
Gold isn’t alone in experiencing sharp increases.
When one opportunity presents itself, I tend to keep an eye out for others that may follow. Few assets react to market factors in a void—other assets in the same class may react similarly, providing you with the option to increase your diversification.
Case in point: Gold isn’t the only precious metal that is seeing increased demand and upward potential. CNBC also reports that palladium reached a record high of $3,440 on March 7, 2022, “amid fears of supply disruptions in the wake of an escalating Russia-Ukraine crisis.”
Those who are considering adding physical gold to their portfolios may also wish to explore other precious metals options as well.
There’s more than one way to diversify with gold.
It’s great to seize your moment and jump on an opportunity, but you should also be careful to make sure that any decisions fit with your unique financial goals and situation. For example, if you believe that precious metals prices are headed for new all-time highs and decide that now is the time to add physical precious metals to your portfolio, you may wish to examine the multiple options for doing so.
It’s possible to simply buy physical precious metals directly from U.S. Money Reserve—our Account Executives are happy to help you find just the right government-issued products to fit your requirements. But readers of Gold News & Views will also know that a second option exists: the gold IRA. Through this self-directed precious metals IRA, you can add physical precious metals to your retirement portfolio. In this case, the physical precious metals would be held in an IRS-approved depository rather than at your own home.
You also have a variety of gold options to explore, from bullion to certified coins of varying weights, grades, and designations. Once again, your Account Executive can help walk you through these options.
Gold and other precious metals may be headed for all-time highs. It may be time to explore all your options and give U.S. Money Reserve a call today.