Are you thinking of selling your gold and going purely into the stock market? Read AuGold IRA’s take on the current state of the gold IRA market before making your decision.
If you are thinking of closing your gold IRA account after what John Powell said at Jackson Hole, you are not alone.
Thousands of other investors pulled out of the gold market, resulting in an almost 2% drop in the price of gold the day after the speech.
According to AuGold IRA, gold and other precious metals are considered a good hedge against inflation, but they do not pay dividends or earn profit like stocks and bonds.
With higher interest rates, the value of gold will diminish because investors will want to move their funds to the stock market where they can earn more over the short term.
Political turmoil pushes the price of gold up as international investors try to protect their wealth by buying hard assets.
The blog suggests that due to the volatility of the international gold market, holding on to gold assets might present you with a profit opportunity in the looming recession.
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Gold Value To Bounce Back In 2023 Offering Retirement Savings & Inflation Hedge For Seniors
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