4 signs to invest in gold right now

For much of the last two years, Americans have been battling inflation's economic repercussions. Not only has it made it more difficult to afford everyday living costs, but rampant inflation has also resulted in the Federal Reserve raising interest rates to their highest point in decades. That's caused borrowing costs to head up, too. This has left many investors looking for alternative ways to grow and protect their money. One such alternative is gold.

Investing in the precious metal surged to an 11-year high last September and the price of the precious metal has broken numerous records already this year, underlining the interest in this unique investment right now. 

That noted, gold isn't as well a known asset as many others. So it can be difficult to determine when to get started with the precious metal (or if you even should at all). But it doesn't need to be. A little research into this investment opportunity can prove beneficial. To that point, below, we've listed four common signs that it may be time to invest in gold right now.

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4 signs to invest in gold right now

While every investor is different, here are four common signs that it may be time to get invested in gold now:

Your other assets are volatile

While you can earn a much quicker return on stocks and bonds, those assets are volatile and can experience major losses just as quickly as gains. So if you have a portfolio made up entirely or even mostly of these two assets, it's best to add some protection via gold. Gold can maintain its value when other assets look shaky and it can even grow in price during what may be an otherwise turbulent period, just like we've seen already this year. Just make sure you don't get overly cautious, either, as most experts recommend limiting gold to a maximum of 10% of your overall portfolio.

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Inflation is still hurting

Inflation has plummeted from a recent decade-high in June 2022 but it's still problematic — and it's ticked up multiple times already so far in 2024. And if it's hurting you financially right now, it's a sign that can gold can help. Gold has a long reputation for hedging against inflation when the purchasing power of the dollar is softer. Until this inflationary cycle is over, then (and no one knows when that will be), it makes sense to buffer against these economic conditions with some gold in your portfolio. 

The price is moving quickly

Gold isn't a reliable income-producing investment because it acts more (as noted above) as a buffer against volatile stock performance and inflation. But there are some rare times, like this spring, when gold can turn a quick profit for investors. The price of the metal has broken numerous records since March 1 and many experts predict that the upward trajectory will continue. So, if you buy in now you could sell quickly at a higher price. But monitor the gold price conditions closely, as this fluidity can quickly come to an end at any moment. 

You can easily get started

Not every investment is easy to get started with. Real estate, for example, will require months from the time you find a property before you close on it — and that doesn't include any turnaround time needed to prepare it to be rented. Other investments, meanwhile, largely benefit from a guiding hand provided by financial advisers. 

Gold, however, is easy to get started with right now and it's ubiquitous. Whether you want to use a top gold IRA company online, a local dealer or just log in to your account with Costco, it's easy to buy and sell gold in its various forms right now. This is especially important for those who are looking to capitalize on the growing price of the yellow metal right now. And it's a sign that more investors are turning to the precious metal, so it behooves beginners to act while the price is still affordable.

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The bottom line

All investments have ebbs and flows in which to get started or sell off. It's important to understand these signs to improve your chances of investing success. And, right now, many signs are pointing to gold. Particularly, if your other assets are volatile and inflation is still hurting, it may be time to explore your gold options. But with the price moving quickly and the available nature of the investment today, these signs may not last much longer, or they could start pointing to other investments instead. So consider acting now while the price is right and the intangibles still point toward a successful gold investment.