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Dos and don’ts of gold investing this September
The price of gold is hovering near yet another price record. After surging in value in 2024, gold is now priced at $2,515.17 per ounce, up significantly from the $2,063.73 per ounce it started at on January 1. And the price rise is understandable, as many have turned to the precious metal in recent years for its ability to hedge against inflation and diversify portfolios otherwise experiencing too much volatility.
As the economy evolves, however, and with cooling inflation sparking anticipation of interest rate cuts, gold investors will need to readjust their strategies and expectations. Against this backdrop, then, there are certain dos and don’ts of gold investing to be aware of heading into September. Below, we’ll break down six of them to know now.
See how the right gold investment could boost your portfolio here.
Dos and don’ts of gold investing this September
Ready to get started with gold now? Here’s what you should (and shouldn’t) do to better maximize your investment.
Do: Invest quickly
The price of gold is up more than 20% from January with many experts predicting a price of $3,000 ahead. So invest quickly if you’re considering gold. If you wait, the price could become prohibitive and it may never come down low enough again to become affordable. And with geopolitical concerns, inflation reports and Fed activity all in mind (all factors that drive the price of gold), that price could rise quicker than you think.
Start investing in gold today.
Don’t: Overinvest
Most experts recommend limiting your gold investment to a maximum of 10% of your overall portfolio. And that advice hasn’t changed, even with gold’s record price run this year. So avoid the temptation to overinvest in the metal and, instead, view it as the safe haven it’s historically been known as.
Do: Consider selling for a quick profit
Gold is not so much an income-producer as it is a safe and effective way to protect your money, as mentioned above. But, right now, some investors may want to take advantage of the rising price and consider buying in “low” now, to sell later for a quick profit. It’s not the traditional advice most would recommend for a gold investment but the price surge the metal has seen this year isn’t traditional, either. So now may be the time to consider alternative approaches.
Don’t: Get invested in the wrong type
There are a variety of gold investment types to choose from, some of which may be better for beginners and some of which may be more appropriate for veterans. Understand the difference and where you lie on the spectrum to avoid getting invested in the wrong type. A rising price, after all, affects each type in different ways. So while gold is moving upward, overall, the wrong investment type could have detrimental, unintended consequences.
Do: Monitor the price daily
The price of gold changes multiple times throughout the day. So keep an eye on it, both for chances to buy in and for opportunities to sell at a significant margin. With so many factors driving the price, the volatility here could work in your favor – if you keep track of the price.
Don’t: Be too focused on gold
While gold is where many investors focus when it comes to precious metals, other metals may also benefit your portfolio. Silver, for example, offers many of the benefits gold does at a much lower entry price point. And it also comes in a variety of types to choose from, which could be advantageous for some investors. So consider exploring these, too, in addition to your gold investment.
The bottom line
The right gold investment could help buffer your portfolio and offer a rare opportunity to earn a profit right now. But you’ll need to take a strategic and nuanced approach, just like you would any other investment. So by taking the above steps now – and avoiding the aforementioned mistakes – you’ll better position yourself for gold investing success, both this September and in the months that follow.
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Tupperware files for bankruptcy amid slumping sales
Tupperware and some of its subsidiaries filed for Chapter 11 bankruptcy protection, the once-iconic food container maker said in a statement late Tuesday.
The company has suffered from dwindling sales following a surprise surge during the COVID-19 pandemic, when legions of people stuck at home tried their hands at cooking, which increased demand for Tupperware’s colorful plastic containers with flexible airtight seals.
A post-pandemic rise in costs of raw materials and shipping, along with higher wages, also hurt Tupperware’s bottom line.
Last year, it warned of “substantial doubt” about its ability to keep operating in light of its poor financial position.
“Over the last several years, the Company’s financial position has been severely impacted by the challenging macroeconomic environment,” president and CEO Laurie Ann Goldman said in a statement announcing the bankruptcy filing.
“As a result, we explored numerous strategic options and determined this is the best path forward,” Goldman said.
The company said it would seek court approval for a sale process for the business to protect its brand and “further advance Tupperware’s transformation into a digital-first, technology-led company.”
The Orlando, Florida-based firm said it would also seek approval to continue operating during the bankruptcy proceedings and would continue to pay its employees and suppliers.
“We plan to continue serving our valued customers with the high-quality products they love and trust throughout this process,” Goldman said.
The firm’s shares were trading at $0.5099 Monday, well down from $2.55 in December last year.
Tupperware said it had implemented a strategic plan to modernize its operations and drive efficiencies to ignite growth following the appointment of a new management team last year.
“The Company has made significant progress and intends to continue this important transformation work.”
In its filing with the U.S. Bankruptcy Court for the District of Delaware, Tupperware listed assets of between $500 million and $1 billion and liabilities of between $1 billion and $10 billion.
The filing also said it had between 50,000 and 100,000 creditors.
Tupperware lost popularity with consumers in recent years and an initiative to gain distribution through big-box chain Target failed to reverse its fortunes.
The company’s roots date to 1946, when chemist Earl Tupper “had a spark of inspiration while creating molds at a plastics factory shortly after the Great Depression,” according to Tupperware’s website.
“If he could design an airtight seal for plastic storage containers, like those on a paint can, he could help war-weary families save money on costly food waste.”
Over time, Tupper’s containers became popular that many people referred to any plastic food container as Tupperware. And people even threw “Tupperware parties” in their homes to sell the containers to friends and neighbors.
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JD Vance echoes Trump, blames Democrats for apparent assassination attempt
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