Gold prices have skyrocketed in 2024, surpassing $2,600 per ounce and raising the question: is it still a worthwhile investment? This article explores three reasons why gold could still be a smart move despite its rising cost, considering factors like inflation and market volatility.
The price of gold has broken so many records already in 2024 that investors would be forgiven if they had lost track. Starting the year priced at $2,063.73 per ounce, gold surged past $2,600 per ounce this week. And it's possible, if not likely, that gold could surpass the $3,000 mark soon. And it's easy to understand why.
Knowing this, then, investors should hedge against inflation now with a small but critical addition of gold into their portfolio.Get started with gold online today.Portfolio diversificationA diversified portfolio split between stocks, bonds and some alternative assets like gold and silver is generally considered a healthy one. That's not to say that gold should make up a third or even a quarter of your portfolio .
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