If you have been following the news, you might have heard the following announcement: China opens up its gold market for foreign investors for the very first time in history.
This could be a great time to invest in gold. Visit this site convert IRA to gold.
Silver Is Undervalued
China is doing this in the hopes of improving its currency’s fortunes as well as to influence global gold prices. Coincidentally, the gold price is also very low. The selling price for gold is actually five percent lower than the actual production cost. This causes many mines to close when gold prices drop. The market forces mines to reduce their production costs if they are not making a profit. Price rises when production slows down.
Both Russia and China have been hoarding massive amounts of gold in recent years. They believe that gold’s price is a hedge against economic instability around the globe. However, it is not only China and Russia. Financial experts around the world recommend that investors turn to gold to provide security. This is possible by converting your traditional IRA into a backed by gold IRA. A gold IRA will give your IRA physical gold backing. Your IRA will no longer be backed in US currency. Instead, it will leverage physical gold as a security. The process is an IRA/IRA transfer, which is entirely non-taxable.
Why Should I Invest in Gold?
* Because gold can be hard and tangible. Cash cannot.
* Because the U.S. dollars are shrinking in relation to the world’s currency supply.
* As many pundits proclaim that the dollar is losing its status as the world’s most valuable currency. Comparing to other world currencies the dollar has fallen to a fifteen-year low. This is because more countries are willing to trade in other currencies. This is not good news.
* Because gold has outperformed Dow by more than 400% over the past ten years.
* Because gold has existed for ages and its value as a precious commodity has endured the test.