Key Benefits Of Investing In Precious Metals
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Today, the range of investment opportunities is huge, each offers rare benefits. In addition to considering these, how about you stick to some of the more aged, conventional assets too, such as precious metals?
Here are the key benefits of investing in precious metals:
Longstanding history of increasing in value
Precious metals like gold have a myriad of uses, a few top-of-the-head examples being:
- Social value; adorning gold, silver and platinum jewelry certainly adds oomph to one’s status
- Production of goods; gold is used in medical & dentistry, industrial and technology sectors
- Awards, Medals, religious artifacts; from Olympic medals to Academy Awards, both silver and gold make an appearance in various valuable items
And of course, there is the financial and trading value too. Precious metals, each with their own glossy finishing and unique properties, offer long-term security as the supply-and-demand is bound to stay consistent for decades, maybe even centuries to come.
Uncontrolled by typical variables of financial assets
There’s no one government or authoritative institution that can decide a certain value for any precious metal. Governments can change the value of your currency, a corporation’s stock will gain or lose points based on their activities, but precious metals will retain a good, maybe even a great value somewhere in the world.
Hence the reason precious metals have been considered safe haven, a secure way of preserving wealth in times of financial constraints and uncertain political or economic conditions.
Additionally, precious metals usually stay unaffected when the rest of your financial assets take a hit. Gold and silver have very low correlation with stocks and bonds, and if these are devalued along with the currency you own, your precious metal coins/bullions/stock stay unharmed.
Exempted from various tax obligations
Two words: Gold IRAs. If you are investing in precious metals for retirement planning purposes, you can benefit from various tax cuts that would otherwise apply to traditional financial assets.
According to an article published in the Journal of Accountancy, returns from gold sold in the IRA are not taxed until you actually withdraw money that resulted from that sale. You can save a considerable sum of money leaving your precious metal in an IRA, and ensure financial security for you and your family when you don’t have a steady earning.