Gold is an attractive hedge as inflation devalues the dollar. Here are three gold investment moves to make now.
Inflation remains persistent. The U.S. inflation report released this week showed that prices were 3.2% higher in February than they were one year earlier. That's an increase from January's 3.1% annual inflation rate. Prices in February were up month over month too, climbing 0.4%. As stubborn inflation consistently devalues the dollar, it's important to hedge your savings bets. Without any inflation protection, your hard-earned dollars could be losing buying power.
On the other hand, as tax-advantaged retirement investments, you could be penalized if you tap into a gold IRA before you're 59 and a half years old. Don't let inflation devalue your savings. Add gold to your portfolio now. Know the limitationsAlthough it may be wise to invest in gold, it's probably not a good idea to invest everything you have into the precious metal. Sure, it's an effective hedge against inflation, but there are other assets that typically produce larger gains.
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