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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