When it comes to investing in the right asset, timing is key. And for much of the last two years, the timing has been right to invest in gold. Thanks to its traditional ability to hedge against inflation and offer portfolio diversification, many have turned to the precious metal for help in an inflationary environment. Investing in the yellow metal hit an 11-year high last summer and it has broken numerous price records just since March 1.
Inflation could continue to riseGold tends to maintain its value and even rise in price when inflation is problematic. And it still is, after reports for February and March showed it rising again. Inflation has remained so stubborn that now even some Fed officials are questioning whether interest rate cuts should be tabled for the remainder of 2024. Trying to get ahead of the curve, then, investors could benefit from adding some gold to their portfolio.
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