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Gold $1295 16.2
Silver $17.34 0.23
Talk to a representative: 855-242-4121


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Apple, the Up-and-Down Market and Why to Get into Gold IRAs

The U.S. economy is experiencing a roller coaster ride of a summer. Early on Tuesday, August 4, stocks flew between gains and losses amid impending reports on the economy to come later in the week. Specific companies have seen some disturbing declines, such as Apple, which has fallen by 3%. In fact, Apple Inc.’s stock dropped to the lowest level in over six months. Worse, Apple has passed below two critical bearish technical thresholds, forewarning that a potentially new downtrend has begun.

More generally, the numbers aren’t much better. The Dow Jones Industrial Average is down by .13%, S&P 500 by .06%, and Nasdaq by .14%. All three closed notably lower than expected on Monday in the wake of disappointing U.S. economic data and a slump in oil prices. What also didn’t help was a weak showing in manufacturing activity.

There’s more news to await on the horizon. On Friday, the report on top-tier non-farm payrolls is due to be released, which may provide hints of the strength of the labor-market recovery. Another key report—the ADP employment report—is due on Wednesday. All the while, the Federal Reserve is keeping watch for economic indicators such as wages and employment numbers as it determines when to raise interest rates.

China’s Impact

China’s economy and its volatility is certainly affecting the American one. The month of July was particularly generous to the U.S. with both the S&P 500 and Nasdaq Composite index ending the month with second-best gains of the year. But for China, July wasn't nearly as kind. The Shanghai Composite ended the month with a 14% drop, its worst month in six years. To add insult to injury, Chinese stocks fell 8.5% on Monday, marking the largest daily loss in over eight years.

China’s economic woes and the U.S.’s falling short of its expectations are making the future of the market far from certain. What is certain is that market volatility can negatively affect investments, especially long-term ones like IRAs. As the stock market takes hits, bonds and stock that make up IRAs may lose their value. It’s more pertinent than ever to diversify IRAs to counter the effects of the up-and-down market.

A New Course with Gold IRAs

There are tons of investments to choose from, but a time-tested one is to diversify your IRA with gold and precious metals. Where other investments’ values have crumbled in the past, gold has always had value. With domestic and international factors making the market’s future uncertain, we believe that tangible assets like gold and precious metals trump the others.

Diversifying with a gold IRA can help greatly in protecting you against the world’s economic volatility. Whether it is slumps, spikes, deflation, inflation, or rising interest rates, we believe that physical gold is an excellent anchor to keep you from being dragged into stormy waters. To add to your IRAs security, we feel it is even better to not only buy gold and precious metals, but to have them stored in a highly secure depository. With the Augusta Gold IRA, you avoid many of the costs associated with other types of gold IRAs. You can also see, touch, and hold your gold by visiting the highly secure non-government owned storage facility where it is stored. That’s a kind of peace of mind that many other investments and other gold IRAs cannot provide.

 

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Michael Dallo, CPA, JD, LL.M. is a tax attorney and certified public accountant (CPA) of Dallo Law Group, a Professional Corporation. For over 10 years, Michael has zealously represented hundreds of clients in resolving tax disputes with the Internal Revenue Service and California taxing agencies, as well as developing sound tax positions and arguments to minimize their federal and state tax liability.

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