In turbulent times, gold is one of the go to safe-haven investments for traders around the world. With the current economic climate as it is, there is no surprise that gold prices per ounce on the spot trading markets have been hitting all-time highs. Given that the prices have increased close to 30% in 2020, with no end to the economic uncertainty on the horizon, you may be wondering if now’s the right time to invest in gold. Here we will guide you on exactly how you can get started with an investment in gold, and other factors to consider.
Benefits of Investing in Gold
There are a couple of key benefits when you are thinking about investing specifically in gold. Here is an outline of what you should expect from each:
Stability: It is often said that gold is recession-proof. The fact is that according to the charts and historical data, demand for gold, increases during times of uncertainty that can come in many forms. This may be economic in terms of a financial recession, as a result of currency weakness, or stemming from political instability within certain regions.
Ultimately, this stability is well showcased if you take a look at the charts. Gold prices have risen steadily over the years, particularly when economies have been challenged. The case in point is in plain view in 2020 as the price has hit record highs above $2,000.
Diversified Portfolio: A cornerstone of successful investing is to have a balanced portfolio. This is where