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6 gold investing options to consider on a tight budget
Adding gold to your portfolio can be a smart move in nearly any type of economy. After all, investing in the gold metal comes with unique benefits, like portfolio diversification and inflation hedging, which can be invaluable to the right type of investor. So adding it to your portfolio can make a lot of sense in most cases.
But today’s unusual economic climate has had a big impact on the gold investing landscape and has caused gold’s value to surge from just above $2,100 per ounce in late March to where it sits today — at just above the $2,300 mark. This uptick in gold prices has attracted a new wave of investors who are eager to capitalize on the precious metal’s upward trajectory.
However, for investors who are operating on a tight budget, the prospect of investing in gold can seem daunting. After all, a single 1-ounce gold bar or coin can easily cost upward of $2,300 right now, a sum that may be prohibitively expensive for many aspiring gold investors. Fortunately, there are several alternatives that allow those with smaller budgets to gain exposure to the precious metal without breaking the bank.
Find out more about the benefits of gold investing now.
6 gold investing options to consider on a tight budget
If you want to invest in gold but are on a limited budget, here are some of the top gold investing options to consider:
Fractional gold
One of the most accessible ways for budget-conscious investors to gain direct exposure to gold is through fractional ownership. With fractional gold, investors can purchase and own a specific fraction or weight of a physical gold bar or coin.
Many online platforms and precious metal dealers now offer fractional gold ownership, allowing investors to purchase as little as a few grams or less of physical gold. This makes it possible to invest in gold with a relatively small initial investment, sometimes as low as $50 or less.
The fractional gold you purchase is typically stored in secure vaults by the provider, and investors can choose to take physical delivery of their holdings or sell them back to the platform at the prevailing market price. This also makes it simple to buy, sell and store the fractional gold you purchase, which can be an added benefit for many types of investors.
While these services can provide a convenient way to invest in gold, though, it’s essential to thoroughly research the fractional gold provider’s reputation, fees and security measures before committing any funds.
Add gold to your portfolio today to take advantage of its unique benefits.
Gold mining stocks and ETFs
Investing directly in the companies responsible for extracting gold from the earth is an excellent way to gain indirect exposure to the commodity itself at an affordable price. After all, gold mining stocks tend to track the price of gold, offering investors an opportunity to benefit from rising gold prices without having to purchase physical bullion.
But gold stocks aren’t the only option. Gold exchange-traded funds (ETFs) that hold baskets of gold mining stocks can also provide diversification benefits while still capturing the upside potential of gold. These funds are often more affordable than buying individual stocks and can be easily traded on major stock exchanges, so they’re a solid option to consider if you’re trying to invest in gold on a tight budget.
Gold mutual funds
Similar to gold mining ETFs, gold mutual funds focused on gold and precious metals offer a diversified approach to gold investing. These funds typically hold a mix of gold mining stocks, physical gold bullion and other gold-related assets.
One big advantage of gold mutual funds is that they are actively managed by professional investors who can adjust the portfolio’s holdings based on market conditions. However, it’s important to note that these funds typically carry higher management fees than gold ETFs, which can potentially eat into your returns over the long run.
Gold jewelry and coins
For those with a more modest budget, purchasing gold jewelry or coins can be an accessible way to gain direct exposure to the precious metal. While these items may not be as liquid as gold bullion bars or ETFs, they can still serve as a store of value and hedge against inflation.
When shopping for gold jewelry or coins, it’s crucial to understand the premiums charged by gold dealers and jewelers. These premiums can vary significantly and can also drastically impact the overall cost of your investment. It’s also important to consider the purity of the gold, as the lower-purity items will contain a smaller percentage of actual gold.
Gold savings accounts
Some banks and financial institutions offer specialized gold savings accounts, which allow customers to hold a portion of their savings in physical gold. These accounts function similarly to traditional savings accounts, but the value of the account is tied to the prevailing gold price.
Gold savings accounts can be a suitable option for those seeking a low-risk way to gain exposure to gold while still maintaining liquidity — and if you’re on a limited budget, this can be one of the more affordable options to consider in terms of gold investing. However, it’s important to carefully review the account’s terms and conditions, as fees and restrictions may apply.
The bottom line
As with any investment, it’s crucial to conduct thorough research, understand the risks involved and diversify your portfolio to minimize potential losses related to gold investing. After all, gold, while often touted as a safe-haven asset, is still subject to market fluctuations and should be approached carefully.
For those with limited budgets, the options outlined above can provide a gateway to the world of gold investing. By carefully evaluating the costs, risks and potential returns associated with each option, you can make informed decisions that align with your financial goals and risk tolerance.
CBS News
Gazan chefs cook up hope and humanity for online audience
Renad Atallah is an unlikely internet sensation: a 10-year-old chef, with a repertoire of simple recipes, cooking in war-torn Gaza. She has nearly a million followers on Instagram, who’ve witnessed her delight as she unpacks parcels of food aid.
We interviewed Renad via satellite, though we were just 50 miles away, in Tel Aviv. [Israel doesn’t allow outside journalists into Gaza, except on brief trips with the country’s military.]
“There are a lot of dishes I’d like to cook, but the ingredients aren’t available in the market,” Renad told us. “Milk used to be easy to buy, but now it’s become very expensive.”
I asked, “How does it feel when so many people like your internet videos?”
“All the comments were positive,” she said. “When I’m feeling tired or sad and I want something to cheer me up, I read the comments.”
We sent a local camera crew to Renad’s home as she made Ful, a traditional Middle Eastern bean stew. Her older sister Noorhan says they never expected the videos to go viral. “Amazing food,” Noorhan said, who added that her sibling made her “very surprised!”
After more than a year of war, the Gaza Strip lies in ruins. Nearly everyone has been displaced from their homes. The United Nations says close to two million people are experiencing critical levels of hunger.
Hamada Shaqoura is another chef showing the outside world how Gazans are getting by, relying on food from aid packages, and cooking with a single gas burner in a tent.
Shaqoura also volunteers with the charity Watermelon Relief, which makes sweet treats for Gaza’s children.
In his videos online, Shaqoura always appears very serious. Asked why, he replied, “The situation does not call for smiling. What you see on screen will never show you how hard life is here.”
Before dawn one recent morning in Israel, we watched the UN’s World Food Program load nearly two dozen trucks with flour, headed across the border. The problem is not a lack of food; the problem is getting the food into the Gaza Strip, and into the hands of those who desperately need it.
The UN has repeatedly accused Israel of obstructing aid deliveries to Gaza. Israel’s government denies that, and claims that Hamas is hijacking aid.
“For all the actors that are on the ground, let the humanitarians do their work,” said Antoine Renard, the World Food Program’s director in the Palestinian territories.
I asked, “Some people might see these two chefs and think, well, they’re cooking, they have food.”
“They have food, but they don’t have the right food; they’re trying to accommodate with anything that they can find,” Renard said.
Even in our darkest hour, food can bring comfort. But for many in Gaza, there’s only the anxiety of not knowing where they’ll find their next meal.
For more info:
Story produced by Mikaela Bufano. Editor: Carol Ross.
See also:
“Sunday Morning” 2024 “Food Issue” recipe index
Delicious menu suggestions from top chefs, cookbook authors, food writers, restaurateurs, and the editors of Food & Wine magazine.
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A study to devise nutritional guidance just for you
It’s been said the best meals come from the heart, not from a recipe book. But at this USDA kitchen, there’s no pinch of this, dash of that, no dollops or smidgens of anything. Here, nutritionists in white coats painstakingly measure every single ingredient, down to the tenth of a gram.
Sheryn Stover is expected to eat every crumb of her pizza; any tiny morsels she does miss go back to the kitchen, where they’re scrutinized like evidence of some dietary crime.
Stover (or participant #8180, as she’s known) is one of some 10,000 volunteers enrolled in a $170 million nutrition study run by the National Institutes of Health. “At 78, not many people get to do studies that are going to affect a great amount of people, and I thought this was a great opportunity to do that,” she said.
It’s called the Nutrition for Precision Health Study. “When I tell people about the study, the reaction usually is, ‘Oh, that’s so cool, can I do it?'” said coordinator Holly Nicastro.
She explained just what “precise” precisely means: “Precision nutrition means tailoring nutrition or dietary guidance to the individual.”
The government has long offered guidelines to help us eat better. In the 1940s we had the “Basic 7.” In the ’50s, the “Basic 4.” We’ve had the “Food Wheel,” the “Food Pyramid,” and currently, “My Plate.”
They’re all well-intentioned, except they’re all based on averages – what works best for most people, most of the time. But according to Nicastro, there is no one best way to eat. “We know from virtually every nutrition study ever conducted, we have inner individual variability,” she said. “That means we have some people that are going to respond, and some people that aren’t. There’s no one-size-fits-all.”
The study’s participants, like Stover, are all being drawn from another NIH study program called All Of Us, a massive undertaking to create a database of at least a million people who are volunteering everything from their electronic health records to their DNA. It was from that All of Us research that Stover discovered she has the gene that makes some foods taste bitter, which could explain why she ate more of one kind of food than another.
Professor Sai Das, who oversees the study at Tufts University, says the goal of precision nutrition is to drill down even deeper into those individual differences. “We’re moving away from just saying everybody go do this, to being able to say, ‘Okay, if you have X, Y and Z characteristics, then you’re more likely to respond to a diet, and somebody else that has A, B and C characteristics will be responding to the diet differently,'” Das said.
It’s a big commitment for Stover, who is one of 150 people being paid to live at a handful of test sites around the country for six weeks – two weeks at a time. It’s so precise she can’t even go for a walk without a dietary chaperone. “Well, you could stop and buy candy … God forbid, you can’t do that!” she laughed.
While she’s here, everything from her resting metabolic rate, her body fat percentage, her bone mineral content, even the microbes in her gut (digested by a machine that essentially is a smart toilet paper reading device) are being analyzed for how hers may differ from someone else’s.
Nicastro said, “We really think that what’s going on in your poop is going to tell us a lot of information about your health and how you respond to food.”
Stover says she doesn’t mind, except for the odd sounds the machine makes. While she is a live-in participant, thousands of others are participating from their homes, where electronic wearables track all kinds of health data, including special glasses that record everything they eat, activated when someone starts chewing. Artificial intelligence can then be used to determine not only which foods the person is eating, but how many calories are consumed.
This study is expected to be wrapped up by 2027, and because of it, we may indeed know not only to eat more fruits and vegetables, but what combination of foods is really best for us. The question that even Holly Nicastro can’t answer is, will we listen? “You can lead a horse to water; you can’t make them drink,” she said. “We can tailor the interventions all day. But one hypothesis I have is that if the guidance is tailored to the individual, it’s going to make that individual more likely to follow it, because this is for me, this was designed for me.”
For more info:
Story produced by Mark Hudspeth. Editor: Ed Givnish.
“Sunday Morning” 2024 “Food Issue” recipe index
Delicious menu suggestions from top chefs, cookbook authors, food writers, restaurateurs, and the editors of Food & Wine magazine.
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