The market prices of gold, silver, and platinum are affected primarily by global supply and demand. In the past year, supply has been declining and demand has been increasing, resulting in a steady upward trend in market prices. Today the price of gold, the commodity most used for new IRAs, has been hovering around $1,540.00/ounce. Just one year back, it was around $1,161.60/ounce. It’s easy to see that those who purchased gold in June 2010 have realized a substantial profit of $378.40/ounce on their investments.
Price Appreciation and Safety Are Leading Investors to Convert to Gold IRAs
Nobody can positively guarantee that gold prices will continue going up at this rate. However, most financial experts and commodities traders believe it will. In addition, many respected analysts and commodities traders believe that gold will rise to $2,000/ounce or even higher during 2011 or 2012.
If this happens, gold, platinum, and silver are likely to be excellent investments during the next decade, thanks to both stability and price appreciation. Gold does not drop sharply in price due to accounting scandals, bank failures, or other major market declines. Gold has proved to be a highly effective preserver of wealth and a safe haven in times of political turmoil and financial instability.
Investors Are Now Converting Some Percentages of Paper Assets to Precious Metals
American Bullion has experienced a steady growth in new customers who wish to diversify their retirement portfolios by adding a percentage of bullion gold and other precious metals to replace stocks, bonds, and mutual funds. Making this conversion allows them to gain important protection from the continued devaluation of the U.S. dollar. They also gain a hedge against inflation. Many investors have had justified concerns about their retirement as they watched the value of their investments plummet during our current financial crisis.
American Bullion supplies investors with a diverse range of bullion gold coins and bars to add to their portfolios. We can help you convert your Traditional and Roth IRAs into new Gold IRAs. This conversion process is simple and tax-free. American Bullion has a team of highly trained Gold IRA specialists on staff to help new customers customize their new Gold IRAs to their specific needs and financial circumstances.
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American Bullion specializes in adding gold and silver to retirement accounts. If you have a question or would like to know more about your investment options, please call American Bullion at 1-800-326-9598 to speak with a precious metals specialist.