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What gold investments are best in an uncertain economy? Here’s what experts say
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Economic conditions are uncertain right now. Inflation is cooling, the Federal Reserve is poised to cut interest rates and there are fears of a recession if unemployment continues to rise. It can all make investing a bit tricky right now.
Fortunately, gold investing doesn’t fall into that same camp. Long considered a safe-haven asset, gold is something investors move to in times like these.
“The gold market presents a great opportunity to hedge against the dollar,” says Nick Fulton, managing partner of USA Pawn Stores of Mississippi and chairman of the Mississippi Pawnbrokers Association. “Gold has risen over 27% in the last year.”
You can invest in gold in many ways, too. But which are the best in today’s uncertain economy? Below, we’ll break down some gold types experts recommend investing in today.
Explore your top gold investing options online here.
What gold investments are best in an uncertain economy?
Not sure what gold type is best to invest in right now? Here are a few that experts recommend right now:
Physical gold
The first and likely most obvious option is to buy physical gold bars and coins. These are a good option if you’re looking for a hedge against inflation or a smart way to store wealth.
“For those seeking a safe haven, storing physical gold at home provides peace of mind against financial instability or currency debasement,” says Ben Nadelstein, head of content at precious metals marketplace Monetary Metals. “Gold’s low correlation with equities and bonds makes it a powerful stabilizing force in a portfolio — even with just a small allocation.”
It’s also easy to find and buy (you can even purchase it at Costco) and, usually, just as easy to sell off, too.
“When investing in physical gold, bars offer very easy ownership,” says James Cordier, a commodities expert and founder of the Cordier Commodity Report. “One-, 10-, and 100-ounce sizes are generally all quite liquid when it comes to buying and selling.”
Get started with gold bars and coins here now.
Gold ETFs
Gold exchange-traded funds (ETFs) are another smart way to invest in gold right now. These are pooled investment funds that allow you to invest in a variety of gold-related assets all at once.
While they’re traded on exchanges just like stocks, they come with less volatility due to their more varied holdings. They also diversify your portfolio without you having to independently decide on individual investments.
To get started in ETFs, you’ll need a brokerage account, but this is often less hassle than purchasing bars or coins — especially if you’re limited on storage space.
“ETFs offer exposure to gold without the complexities of buying and storing physical gold,” says David Hollander, founder of Liberty Group, a wealth management firm in California. “Generally, the commissions and fees to acquire it are lower in a brokerage account vs. a hard asset retailer.”
Gold IRAs
Finally, there are gold IRAs, which allow you to invest in gold to save for retirement. These are types of retirement accounts that you can use to buy both gold as well as various other precious metals.
You have to open them through gold IRA companies — technically called custodians. You’ll then fund your account, and your custodian can then purchase gold and other products on your behalf. The holdings are then stored at an approved depository.
One benefit of these is you can use traditional or Roth IRAs for this purpose. This means you can fund your investment with pre- or post-tax dollars — whatever works best for your long-term plans.
Learn more about your gold IRA options online today.
Get professional guidance
There are many ways to invest in gold, and the right choice depends on your goals, budget, tolerance for risk, and more. To make sure you’re choosing the best option for your finances, talk to an investing professional. They can point you in the right direction.
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Paul Whelan, freed in prisoner swap with Russia, tells other American detainees: “We’re coming for you”
Washington — Nearly seven weeks after the Russians handed over Paul Whelan on a tarmac in Ankara, Turkey, the Marine veteran stood on the steps of the U.S. Capitol with a message for other Americans who are held abroad.
“We’re coming for you,” he told reporters Tuesday night after he met with lawmakers. “It might take time, but we’re coming.”
Whelan said he spoke with lawmakers about how the government can better support detainees after they’re released.
“We spoke about how the next person’s experience could be better,” he said. “What the government could do for the next person that’s held hostage and comes home — the care and support that other people might need, especially people that are in a worse situation. There are people coming back that lived in the dirt without shoes for three years, people that were locked up in hideous conditions for 20 years. They need support.”
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The U.S. secured Whelan’s release in August in one of the largest prisoner swaps since the end of the Cold War. The complex deal came after months of sensitive negotiations between the U.S., Russia, Germany, Slovenia, Poland and Norway.
As part of the deal, Russia released 16 prisoners while the Western countries released eight Russians. Whelan was released alongside Wall Street Journal reporter Evan Gershkovich, Russian-American radio journalist Alsu Kurmasheva and Vladimir Kara-Murza, a U.S. green card holder and Kremlin critic.
Whelan, who had been the longest-held American detainee in Russia, was arrested in December 2018 when he traveled to the country to attend a friend’s wedding. He was convicted of espionage in a secret trial and sentenced to 16 years in prison in 2020.
Whelan, his family and the U.S. government vehemently denied that he was a spy and accused Russia of using him as a political pawn. The U.S. government considered him to be wrongfully detained, a rare designation that put more government resources toward securing his release.
But a deal to secure his freedom was long elusive. He remained behind bars as Russia freed Marine veteran Trevor Reed and women’s basketball star Brittney Griner — both of whom were detained after Whelan’s arrest — in prisoner swaps with the U.S.
The U.S. said it pushed for his inclusion in both exchanges, but Russia refused. It led to Whelan advocating for his own release from a remote prison camp, calling government officials and journalists to make sure that he wasn’t forgotten.
When the plane carrying Whelan, Gershkovish and Kurmasheva landed in Maryland on Aug. 1, Whelan was the first to disembark. He was greeted by President Biden, who gave Whelan his American flag pin, and Vice President Kamala Harris.
“Whether he likes it or not, he changed the world,” Rep. Haley Stevens, a Michigan Democrat, told reporters Tuesday.
Whelan’s case and his family’s constant pressure on the U.S. government brought more attention to the cases of Americans who are wrongfully detained by foreign governments.
Haley said Whelan is a reminder to other Americans considering traveling to Russia that “you have a target on your back.”
Whelan said it’s been an adjustment acclimating to life back in the U.S., especially learning the latest technology like his iPhone 15.
“I was in a really remote part of Russia,” he said. “We really didn’t have much. The conditions were poor. The Russians said the poor conditions were part of the punishment. And coming back to see this sort of thing now is a bit of a shock, but it’s a good shock.”
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