Despite the fact that the Coronavirus keeps affecting the US economy and uncertainty in the markets grows, gold prices are about to hit record highs. Is it time to invest in gold?
As uncertainty floods the markets and Coronavirus cases spike in the US, there's an asset class that's been calling the investors' attention. Gold prices keep climbing despite the crisis and began July trading over $1,800 per ounce.
So far, gold has registered an increase of 19% this year, and experts assure that it will maintain its upward trend. Even the Bank of America stated that the metal could hit $3,000 per ounce this year, fueled by global uncertainty.
So, is it a good time to invest in gold?
Based on the outlook, those who invest now in gold have high potential returns ahead. However, you should also bear in mind that the entry costs will be high as well.
Experts say that it's always a good time to buy gold and that every investor should always destine part of their portfolio in this asset. So, the real question in this matter isn't if it's "a good time to invest", but "how much should I invest in gold."
There are plenty of ways to invest in gold. You can either buy physical gold bars or coins, buy ETFs/ETCs or gold-related stocks. You just need to decide why you want to invest in gold and how you are going to do it!