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4 gold investing moves beginners should make this spring
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With inflation stubborn (if cooled) and interest rates still elevated (if paused), investors need to be more judicious than usual with how they spend their money and where they keep it. Now, especially, it’s important to put your money in assets that can offer both protection and the potential for long-term growth. One such asset that many have turned to in recent years is precious metals, specifically gold and silver. Gold investing, in particular, hit an 11-year high last September and it’s easy to understand why.
Gold offers protection against inflation and can help with portfolio diversification. It can also safeguard your bottom line when other assets look unsteady, as many have in the face of inflation and high interest rates. That noted, timing is critical and right now is a great time for investors to get involved in gold. Below, we’ll review four gold investing moves beginners should make this spring.
Start by exploring your gold investing options online today.
4 gold investing moves beginners should make this spring
Here are four gold investing moves beginners should make this spring.
Understand your options
You may have seen television commercials highlighting gold bars and coins but those aren’t the only types of precious metal investments beginners can utilize. Gold IRAs, for example, can be ideal for retirement planning while gold exchange-traded funds (ETFs) may be preferential once your gold knowledge and understanding has increased. But don’t just jump in without understanding all of your options in advance. Utilize this time of lower inflation and elevated interest rates to improve your knowledge of this unique investment opportunity. This will boost your chances of gold investing success.
Learn more about investing in gold here.
Know your goals
Gold can generate income. But it’s not likely to generate income overnight – or as consistently or as quickly as other asset classes can. This is not a negative feature but it’s something to keep in mind for gold investing beginners. Know your goals, then, before getting started. If you’re looking for a hedge against inflation, a portfolio diversifer and a general buffer against the volatility of the overall market then gold can be beneficial for you. But if you’re looking for quick returns other investments may be preferable right now.
Get started
Once you understand your options and know your goals it’s important to get started. There are multiple, reputable gold IRA companies to utilize online right now. You can also use a local retailer if you prefer the liquidity physical gold bars and coins offer. You can even use big-name retailers like Costco and Walmart, which sell gold bars and silver coins online today (the former of which sold out quickly last summer). But don’t hesitate to get started now, as our next point demonstrates.
Monitor trends and prices
Gold hit a record high of $2,160 per ounce earlier this month. While it’s dropped slightly since it’s important to buy in now, before the cost becomes prohibitive. And you should monitor trends and prices after you’ve invested for opportunities to sell your investment – or buy more. Factors like inflation and geopolitical turmoil can easily affect your investment, which you should monitor closely just like you would any other.
The bottom line
If you’re a beginner gold investor now is a great time to get started. Thanks to the hedge against inflation it can provide, portfolio diversification and rising value, gold is particularly beneficial to invest in right now. But beginners need to be smart with their approach. This means understanding all of their potential investment options, knowing their goals, being proactive and getting started and, then, not becoming complacent and instead monitoring trends and prices. By making these four moves now beginners will boost their chances of success with gold this spring and in the months and years ahead.
NEW YORK — Former New York Gov. David Paterson and his stepson were attacked in New York City on Friday night, authorities said.
The incident occurred just before 9 p.m. on Second Avenue near East 96th Street on the Upper East Side, according to the New York City Police Department.
Police said officers were sent to the scene after an assault was reported. When officers arrived, police say they found a 20-year-old man suffering from facial injuries and a 70-year-old man who had head pain. Both victims were taken to a local hospital in stable condition.
In a statement, a spokesperson for the former governor said the two were attacked while “taking a walk around the block near their home by some individuals that had a previous interaction with his stepson.”
The spokesperson said that they were injured “but were able to fight off their attackers.”
Both were taken to Cornell Hospital “as a precaution,” he added.
Police said no arrests have been made and the investigation is ongoing.
The 70-year-old Paterson, a Democrat, served as governor from 2008 to 2010, stepping into the post after the resignation of Eliot Spitzer following his prostitution scandal. He made history at the time as the state’s first-ever Black and legally blind governor.
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A 17-year-old boy was critically injured and a person is in custody after a gunman opened fire on a SEPTA bus in North Philadelphia Friday evening, police said.
At around 6:15 p.m., Philadelphia police were notified about a shooting on a SEPTA bus traveling on Allegheny Avenue near 3rd and 4th streets in North Philadelphia, Inspector D F Pace told CBS News Philadelphia.
There were an estimated 30 people on the bus at the time of the shooting, Pace said, but only the 17-year-old boy was believed to have been shot. Investigators said they believe it was a targeted attack on the teenager and that he was shot in the back of the bus at close range.
According to Pace, the SEPTA bus driver alerted a control center about the shooting, which then relayed the message to Philadelphia police, who responded to the scene shortly.
Officers arrived at the scene and found at least one spent shell casing and blood on the bus, but no shooting victim, Pace said. Investigators later discovered the 17-year-old had been taken to Temple University Hospital where he is said to be in critical condition, according to police.
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Through their preliminary investigation, police learned those involved in the SEPTA shooting may have fled in a silver-colored Kia.
Authorities then found a car matching the description of the Kia speeding in the area and a pursuit began, Pace said. Police got help from a PPD helicopter as they followed the Kia, which ended up crashing at 5th and Greenwood streets in East Mount Airy. Pace said the Kia crashed into a parked car.
The driver of the crashed car ran away but police were still able to take them into custody, Pace said.
Investigators believe there was a second person involved in the shooting who ran from the car before it crashed. Police said they believe this person escaped near Allegheny Avenue and 4th Street, leaving a coat behind.
According to Pace, police also found a gun and a group of spent shell casings believed to be involved in the shooting in the same area.
“It’s very possible that there may have been a shooting inside the bus and also shots fired from outside of the bus toward the bus,” Pace said, “We’re still trying to piece all that together at this time.”
This is an active investigation and police are reviewing surveillance footage from the SEPTA bus.