What do Scrooge McDuck and King Midas have in common? Hint: It’s not a well-diversified portfolio. They’re both heavily invested in gold.
Gold is doing well so far in 2024, amid high inflation and rising interest rates. Investors tend to rush into buying gold (and other metals) when they’re concerned about other assets or the broader economy, and the recession fears of 2022-2023 have elevated those worries. You may have read that Costco recently began selling — and selling out of — gold bars.
But while owning gold sounds cool, and can be a hedge during a stock market downturn, figuring out how to buy gold comes with some unique challenges.
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Is gold a good investment?
Gold has a reputation for being a recession-friendly investment — when the stock market has a big pullback, the price of gold often goes