later this year. After its March minutes were released, gold spot prices went up to $2,042.49 per ounce, approaching the record price set in 2020.
Higher gold values can help combat the decreased purchasing power a recession brings. They can also provide a valuable cash reserve if you lose your job, which becomes more likely in a recession. Gold is a liquid investment, which means you can exchange it for cash more easily than other investments. And since its value rises in a recession, you may be able to cash it in for more precisely when you need it the most.Stock prices can fall suddenly for many reasons, from economic conditions to bad press for a particular company. When your stock values plummet, it's essential to have aGold has historically held its value despite market fluctuations and turmoil.
To get the most out of its stabilizing properties, experts recommend keeping 5% to 10% of your portfolio in gold.