Not sure if 1-ounce gold bars make sense for your portfolio? Consider these other gold investments instead.
The price of gold has been on an upward trend over the last few months as high inflation, geopolitical tensions and elevated interest rates have continued to negatively impact the economy. With more investors seeking out assets that can help to protect their wealth, the demand for gold has surged, propelling gold's value higher — and leading the price to hit a new record of over $2,400 per ounce in late May.
In turn, you may want to ensure that you're educated on how this type of investment works if you want to mitigate the potential risks and maximize the potential returns on your money.Gold futures and optionsIf you're a more experienced or seasoned investor, gold futures and options contracts may be worth a look this June. These investments, traded on commodity exchanges, provide you with opportunities to speculate on short-term gold price movements or hedge existing positions.
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