Although some economies are on the decline because of financial setbacks, gold is still withering the storms in many ways, and making an investment in gold IRA is a good start to make. An investment made at the right time can avoid plenty of stressful financial difficulties that might creep up in the future and this is especially true in the case of retirement. Therefore, making the right move in the right direction is essential if one is to protect his or her financial future.
Gold IRA is especially suited for retirement purposes and the US government allows individuals to invest their money in it under the Individual Retirement Account (IRA). To own gold IRA, one is required to find a trustee that understands how to set up the right type of IRA that is self-directed. The trustee has the responsibility to transfer funds to the gold dealer as well as to facilitate the transfer and storage of the precious metals.
Gold
Recently gold rose almost to 2% on Tuesday 9, 2014 and made it above last October’s amount. Spot gold registered an increase of up to $1,226.80 per ounce, which signifies a rise of 1.8%. Meanwhile across the U.S., gold futures went ahead by 2.5% to reach $1,224.80, which showed an increase of the $1,200 where gold has stood almost stationary for awhile.
Meanwhile as gold rises to the challenge, stocks took a downturn and to make matters worse the U.S. dollar went down as well because of certain comments made by policyholders of the Federal Reserve. The comments made by two Federal Reserve lawmakers concerning interest rate hikes due in 2015, gave way to serious concerns from some market watchers.
Since making such comments by the two policyholders, the U.S. dollar declined by 0.5% in the face of other major competitive currencies in other parts of the world. Stocks also felt some heat and registered a loss as the S&P 500 futures carry out trading during the day at a loss of 0.7%.
In Europe, shares went down 2% because of lowering oil price that was harming energy stocks. However, the decline of the U.S. dollar and the failure of the stock market to rise, gave gold the boost it needed to rise to the challenge, causing investors to view the precious metal to be a strong financial asset to own.
Gold stocks
Since Monday, gold stocks went down along with gold futures, which ending on a low note. Some experts are of the view that gold tumbled because of certain worldwide equity markets that were on the decline as well as gold investors’ complaint of the handling of monetary policy conducted by the U.S. Federal reserves.
December 12, 2014 marked the end of another gold future, which ended at $1,222.50 per ounce, showing a decline of $3.10 (3%). Again, the bad performance of the U.S. dollar and equity markets that appear to be weakening steadily gave strength to the bullion and caused it to show positive signs. Despite any losses gold might underwent in the past, it rallied last week to show an increase of 2.7%.
Although gold might somehow decline in value at times, still it is a valuable commodity to own and if one owns it over a lengthy time, he or she can be certain to see enough profits made on his or her investment. This is enough reason to start taking gold seriously.
