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Is North Korea Good for Gold Investment?
Posted By Isaac Nuriani
You can forgive the folks living in Alaska and Hawaii for an eerie sense of foreboding. They appear to be in range of North Korean intercontinental ballistic missiles. That queasiness will spread in the next two years as the continental U.S. becomes the target of North Korean nuclear-tipped ICBMs. I don’t even want to think about the anxiety spreading through Japan and South Korea.
Other nations have the means to hit the U.S. with nuclear missiles, but North Korea is a different situation, because no one can be sure its leader is sane. If he’s a rational leader, wouldn’t he know a first strike could cause America to turn North Korea into a burning heap of death and destruction? An irrational leader might consider that a plus for who knows what unhinged reason. We have to assume Kim Jong Un has a well-stocked bomb shelter and it’s not clear what he’s capable of.
Gold Investment in the Face of War
As you know, many people turn to investing in gold or silver in times of uncertainty. The more potential devastation that could result from a new Korean war, the higher demand for gold and silver is likely to be and the higher the price. It has been this way for millennia: When times get tough, gold shines brighter. Gold and silver provide a store of value with a history of holding strong when people lose confidence in paper money and failing political institutions. During times of war, many folks will sell you food and bullets for hard money like gold and silver, but not for paper money.
Another current potential trigger of higher demand for gold is the dwindling chance the Fed will raise interest rates yet again. The economy is softening, car production is down and layoffs among automobile manufacturers are looming. This discourages higher interest rates, and that’s good for gold investments, because high rates tend to compete with gold.
Consider a Gold IRA Rollover
One of the most convenient ways to own gold is through American Eagle gold coins. They are easy to purchase and have a uniform amount of gold in each coin. Augusta Precious Metals is a major seller of gold coins, especially through our Augusta® Gold IRA. You get to deduct your IRA contributions from your income taxes -- up to $6,500/year for folks 50 and older. With an Augusta® Home Delivery™ Gold IRA, you can use the money in your IRA to buy certain types of precious metals, including American Eagle and Canadian Maple Leaf gold and silver coins. You don’t pay taxes until you withdraw your IRA gold later on. (Don’t forget, as with any IRA, a physical gold IRA account incurs penalties for withdrawals before age 59 1/2.) Contact us today for more information about gold IRA investing!
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