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The price of gold continues to rise, hitting yet another record this week at $2,439.98 per ounce.
It’s been difficult to keep track of all of the price records the precious metal has surpassed already this year after starting at just $2,063.73 per ounce on January 1. While a rising price will benefit those who have already invested, no matter the type, prospective investors may be wondering about the advantages of getting started now. This particularly applies to those considering a physical gold investment like bars and coins. A rising cost could feel prohibitive but, upon closer inspection, it may still be worth investing in now. Below, we’ll break down why.
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Are gold bars and coins still worth investing in as the price rises?
Here are four reasons why gold bars and coins can still be worth investing in even as the price rises.
The potential for further price increase
Despite the current high price of gold, experts predict that it may continue to rise, potentially reaching heights of around $3,000 per ounce. Investing in gold bars and coins now can present an opportunity to capitalize on this upward trajectory by either selling for a quick profit or holding onto the investment for greater returns in the future.
Ongoing investment value
Gold maintains its value as a stable investment that serves as a hedge against inflation and aids in diversifying a portfolio. These benefits remain crucial even with the elevated price of gold, making it a valuable addition to any investment strategy, especially for long-term growth.
Unlike some investments that may pose challenges in terms of buying and selling, gold bars and coins are highly liquid assets, particularly in the current market with increasing demand. This makes them easy to sell for a significant profit if the price continues to rise. Additionally, the accessibility of gold bars and coins makes them a convenient choice for investors looking to enter the market swiftly.
Obtaining gold bars and coins is straightforward, with various online platforms and physical stores offering these investment options. However, due to the surging price of gold, availability may become limited, as seen in instances where popular retailers quickly sell out during peak demand periods. Thus, taking a proactive approach to acquiring gold may be prudent for prospective investors.
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The bottom line
Although the escalating price of gold may raise concerns for potential investors, the enduring benefits of investing in gold bars and coins make them a viable option even in a high-cost environment. With the anticipation of further price increases, the inherent protection against inflation and portfolio diversification advantages, as well as the ease of selling and acquiring gold, investing in this form of physical gold remains attractive. It is essential, however, to align your investment decisions with your overall financial goals and consider expert recommendations to limit gold holdings to 10% or less of your total portfolio.
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