Gold’s Recent Record Run May Be Tempting – What To Know Before Investing
November 7, 2024
Brandon Angotti quoted on MSN.com
“Anytime an asset sees that kind of growth, investor interest surges”, said Brandon Angotti, VP, Financial Planning & Trust Officer at the Wealth Group Union Savings Bank. “You just want to make sure you’re very careful, so that you’re not buying at the peak when everyone else is sort of chasing [it],” he said.
Key Takeaways
- Gold has hit a series of record highs recently, gaining 32% since the start of the year and outpacing the 23% rise for the S&P 500.
- Investors put a net $1.9 billion into gold ETFs in September, according to CFRA data.
- Gold is considered a hedge against inflation, as well as stock market volatility and geopolitical instability.
- Financial advisors suggest keeping your gold allocation to less than 10% of your portfolio, noting that investors should be aware of tax burdens and other costs, as well as the difficulty in predicting price moves for the metal.
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Gold’s Recent Record Run May Be Tempting—What to Know Before Investing
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