This Week in Gold: $1300 Resistance, SEP vs. 401(k), Celeb Investments

This week in gold, we saw the gold price break the $1300 resistance level over Ukraine concerns and U.S. economic activity, learned the benefits of and differences between a SEP IRA and a 401(k), and had some fun with hypothetical celebrity investments in gold.

Gold breaks $1300…for a little bit

On Monday, gold reached a three-week high of $1309 as increased tensions in Ukraine boosted gold’s safe-haven appeal to investors. A street battle between supporters and opponents of Russia killed at least 42 people. Additionally, weak investments by gold mining companies and announcements of reduced gold supply sparked supply concerns and brought up prices. However, gold fell below the $1300 mark throughout the remainder of the week and today is at $1287.90.

SEP IRA vs. 401(k)

What is a Simplified Employee Pension (SEP) IRA and what is a 401(k)? What are the similarities and differences between the two and compared to other retirement plans? What are the rules and options for transferring or rolling over each plan into a Gold IRA? Find out the answers to these questions as well as why it is important to know them.

If these 10 celebrities had bought gold the year they were born, how much would it be worth now?

We had a little bit of fun with the above question and imagined that 10 celebrities had each bought gold during the year they were born. Using the gold price during that year and comparing it to today’s price, we calculated how much their gold would be worth on this day. The numbers are staggering! Find out by how much your favorite celebrity’s gold increased in value.

 

This week’s articles will teach you that gold will always have intrinsic value no matter what is going on in the world, that knowing your options will help you choose a retirement plan that best fits your lifestyle and needs, and that gold makes a great long-term investment. To capitalize on these reasons to buy gold, especially for your retirement account, call American Bullion today at 1-800-326-9598 to speak to a precious metals specialist today.