Gold was first used as currency around 700 BC and has held value ever since. While gold has maintained value, thousands of currencies and financial systems large and small have collapsed.
There is a good reason why some of the world’s oldest and wealthiest organizations hold large portions of their wealth in gold: The British Royal Family, the Catholic Church, every Royal Dynasty, Central Banks all over the globe, and virtually every sovereign nation.
Longstanding institutions understand that currencies and financial systems crumble over time but gold preserves and grows wealth over time. Why should your retirement and wealth be treated differently? You deserve the ultimate ‘store of value’ in gold!
Wise investors understand that markets are cyclical and periods of economic expansion are always followed by market crashes and bear markets. Opening a gold IRA with Elite Bullion Investment Group offers a unique level of diversification against events such as stock market crashes, credit contraction, war/geopolitical tensions, and real estate market corrections.
As stock market crashes have inevitably always occurred and will always occur, the wisest investors have always seen gold as a wise place to store profits made during periods of stock market growth. Why ride the peaks and valleys of the stock market again?
Unlike the US Dollar, which has lost 98% of its purchasing power since 1971, gold’s purchasing power remains stable over time. Few people understand that the US abandoned the gold standard in 1971.
Since that time, $100 invested in bank savings at the normal compounded interest rate would be worth approximately $1,200 today, an increase of 1,200%.
However, $100 dollars invested in gold in 1971 would be worth approximately $5,474, an increase of 5,374%.
With banks now paying historically low-interest rates and the growth of money and debt at an all-time high, gold is a sound and wise alternative to cash and traditional assets in your IRA.
Over the long term, gold in your hand has always been and will always be better than excess cash at a financial institution.
During stock market crashes, periods of rampant inflation, credit crises, and war, gold tends to outperform all other assets. Wise investors who understand that one or more of these events is not only possible but likely to occur, allocate a portion of their retirement funds to gold.
Further, with gold being an indispensable conduit in electronic devices, its industrial consumption has never been higher. As the distribution of smartphones grows globally, Apple estimates that there will be more than 7 billion smartphone users by the year 2021. With growing demand and shrinking supply, the price of gold is bound to grow on industrial demand alone.