Should you diversify your gold investment assets? Experts weigh in

📆 7/25/2024 8:54 AM
📰 CBSNews

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Gold can help diversify your portfolio. But should you diversify further with different gold types? Here's what experts say.

The price of gold has achieved new all-time highs multiple times in 2024, spurred largely by increased demand, and not just from individual investors. Central banks are turning to gold for many of the same reasons as investors: to offset risk by diversifying their portfolios and to act as a hedge against inflation.Gold is sought after as a portfolio diversifier because it has a low correlation with stocks, bonds and other traditional assets.

As Chris Gaffney, president of World Markets at EverBank, emphasizes, 'A portion of your gold assets should be held in physical form, either at a trusted custodian or in a home safe or vault. This gold can be viewed as your 'catastrophe insurance' and can be accessed even if there are larger problems in the financial systems.

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