Should seniors invest in gold as the economy improves? – MASHAHER

The unemployment rate is falling as less Americans are looking for work. That was the big economic news released Friday by the Bureau of Labor Statistics. Employers added 254,000 jobs in September, surging past economists predictions of 140,000 new jobs. The unemployment rate then dropped to 4.1%, down from the prior month’s 4.2%. 

This was yet another welcome economic development that followed a Federal Reserve rate cut in September and a report showing inflation at its lowest point in three years. While there is still much work to be done to course-correct the economy, many Americans may be encouraged by these latest developments.

As the economy improves, however, some may be reconsidering both their traditional and alternative investments. This consideration is particularly important for seniors, many of whom are heavily dependent on retirement funds and Social Security. For this demographic, in particular, each investment type needs to be worthwhile. And although gold, for example, has been a smart investment for many in recent years, some older adults may be wondering about it’s worth now. Should seniors invest in gold as the economy improves? Or should they look to skip it altogether? That’s what we’ll break down below.

See how the right gold investment could boost your portfolio here now.

Should seniors invest in gold as the economy improves?

Here are three reasons why seniors should consider investing in gold now, even as the economy heads back upward:

The price is rising

The price of gold has surged this year, breaking numerous price records in the process. So for those seniors looking for an investment that has clear, upward movement, gold will be it. The price of the precious metal started the year at $2,063.73 per ounce and is now hovering close to $2,700.00 – a more than 30% rise since January. And it could easily surpass $3,000 soon, according to experts. So don’t wait for that to happen. Invest today and enjoy the benefits of a growing asset.

Get started with gold here.

It’s still a safe haven

The rising price of gold shouldn’t cause seniors to forget that the precious metal still effectively serves as a long-term, safe haven investment, too. As can be demonstrated over the last 18 months, when other assets look shaky due to inflation and other poor economic conditions, gold often maintains and even rises in value at the same time. This safe haven feature is always important to have in one’s portfolio, especially for seniors who have little wiggle room to endure the volatility of other, less reliable investments. 

Your portfolio can use the diversification

Sure, the economy is seemingly on the right track right now. But that doesn’t mean you should have a static portfolio, either. Instead, now is actually a smart time to diversify to protect yourself against future economic downturns. And, as been demonstrated in recent years with the pandemic, inflation, and more, no one can accurately predict when the economy could change again. It makes sense then to diversify with gold now to offset those unforeseen risks. Just make sure to do so with a limited amount. Most experts recommend capping gold at 10% of your overall portfolio but, for seniors, that amount may be a bit lower.

The bottom line

Gold can make sense for seniors to invest in now, even as the economy is improving on multiple fronts. With the price of the metal rising but it’s traditional benefits as a safe haven and diversifier still strong, many seniors would benefit from adding a small portion of gold to their portfolios now. And with types ranging from gold IRAs to simple gold bars that you can buy from Costco, there’s no shortage of ways to invest in the precious metal right now. 

Get started here today.