Covid-19 Pandemic Drives a Renewed Interest in Precious Metal Investing Among First-Time Investors
12020-06-29T09:40:33-07:00Sandyea2b4f37c7ca27d6d08e80760c9bbdced5b2cd32138431plain2020-06-29T09:40:33-07:00Sandyea2b4f37c7ca27d6d08e80760c9bbdced5b2cd32Coronavirus has affected people from every part of the planet. No matter where on the planet you live, COVID-19 has affected you in some way. Whether it is something as small as changing up how you go about your day to something as large as losing a friend or family member, it has taken its toll. Most of us were unprepared for the impact that COVID has had on our world and we are scrambling to find ways to compensate for the impact. More and more keeps happening in the world, from the racism pandemic in the United States, to rumors of dangerous species spreading to new continents (killer bees).
With worry over new problems arising many of us have been searching to find ways to secure our futures. How can we protect our futures from the changes in the financial market? To protect against potentially losing everything we have. One way that many people have been acting to protect themselves is by investing in gold.
Gold is one of the first currencies in the world and no matter what other currencies have been used, i.e. paper money, gold has been a valuable currency. It wasn’t until relatively recently in history that gold was no longer a common payment tool. Even the United States still recognizes the value that gold has and it has become a great investment platform.
One way that you can invest in gold in the US is through a precious metal IRA. These IRAs work similar to a traditional IRA except for the fact that the investment is in real, physical gold. You buy the gold and it gets stored in a facility for you. Gold IRAs have become a popular investment platform during the COVID pandemic because you don’t have to worry about the performance of the stock market. In fact, gold tends to have better performance in times like now where the stock market is affected and the general state of the economy is poor.
During COVID we have seen an unusual increase in investments in gold and gold IRAs, more and more first time investors are investing in gold. New investors are seizing the opportunity to secure their future. So far we are at a larger number of investors overall from this time last year. It is likely that trend will continue as more people aim to secure their futures.
Predictably we also haven’t seen a large amount of people selling off their investment gold, they are keeping that gold in order to ensure their futures. Roughly the same amount of people have cashed in their gold investments, but we expect that number to go down as people do not want to cash in early.
There are plenty of good resources out there to help you learn about investing in gold or gold IRAs. Even if you are unsure about investing we recommend that you take the time to learn some about precious metals and investing, it can help you to be more informed if you need to make investments in the future.
If Coronavirus continues and it continues to be compounded by other events we will all want to take steps to protect our futures. We expect to see an increase in investments of all kinds. Especially investments in alternative platforms such as gold that are not directly tied to the stock market. In times of uncertainty like we are in, a lot of people do not want to invest in the stock market as they are concerned that it will continue to go down and we have already seen the stock market go down several times.