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Gold $1274.1 -2.6
Silver $16.34 0
Talk to a representative: 855-242-4121

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Gold Spot Price Could Reach $1,600 by End of 2017

An article over at recently caught our attention – it sounds a very bullish call on the spot price of gold. More specifically, the piece cites seven financial experts who believe gold, in the form of a variety of gold stocks and exchange-traded funds (ETFs), is a good place to be for the foreseeable future.

One of those experts, financial journalist John Persinos, weighed in with his recommendation of one of the industry’s popular gold ETFs, saying, in part:

“Rising geopolitical risk, worsening dysfunction in Washington, DC, increased signs of inflation, and an overvalued stock market all add up to bullish conditions for gold.

“We’re predicting a turbulent 2017, including a probable market correction. Gold is a time-tested hedge against crises, which are multiplying with each passing day.”

Continuing, Persinos noted “the analyst consensus calls for gold prices of $1,500 to $1,600 per ounce by the end of 2017. Those projections make gold not just a great way to protect your portfolio, but a smart money-making move as well.”

Should the spot price of gold, in fact, climb to that level, it would mean another 16- to 24-percent move upward by year’s end!

The Best Way to Own Gold is to Buy Gold Bullion

While I agree with the reasons noted in the article as to why purchasing gold is a smart move, I disagree with these experts in one important area: the form in which gold should be owned.

These individuals are supporters of owning securitized gold – gold in the form of negotiable securities, such as gold mining stocks, gold mutual funds, and gold exchange-traded funds (ETFs).

That’s certainly one way to own gold, but not the best way, in my opinion. I believe the best way to own gold is to possess the actual metal: physical gold…gold bullion.

One problem with owning gold securities is that they can be subject to influences on the stock market, overall. This is particularly true in the case of mining company stocks, which can wither under the same pressures that may distress equities, in general.

A key reason for including gold in your portfolio is its extremely low historical correlation to other asset classes. With gold securities, however, enjoying the metal’s low correlation to stocks is not as certain.

When you own physical gold, it stands apart – literally – from the equities markets.

You Can Own Physical Gold in an IRA

Another reason investors opt for gold stocks and funds is that they’re simply not aware they can own physical gold inside of a retirement plan. A type of Individual Retirement Account (IRA) that sits just slightly outside the IRA mainstream, called a self-directed IRA, makes it possible to own a variety of alternative assets, including physical precious metals. Whether your interest is in taking advantage of the spot price of gold today for a near-term strategic price benefit, or you envision gold as a long-term component of your portfolio, you’ll need the use of a self-directed IRA to properly purchase and maintain physical bullion.

You’ll tend not to hear about self-directed IRAs from financial advisors, who are usually paid only when you purchase securities.

In order to steer you away from buying bullion in your IRA, financial advisors will often cite the perceived hassles of doing so, such as the extra paperwork required to open a self-directed IRA, the need for a special custodian, and the depository storage fees. They’ll ask you, “Why burden yourself with buying gold bullion, when you can enjoy the same benefits of owning gold by purchasing mining stocks or a gold mutual fund?”

Except they’re NOT the same benefits. Owning gold bullion that you can personally access is not the same thing as owning gold securities. Not even close.

Plus, the “hassles” those financial advisors cite are essentially nonexistent when there’s a company like Augusta Precious Metals ready to assist you. Staffed by dedicated gold and silver professionals, the Augusta team can help you with the acquisition of gold bullion, whether you’re interested in purchasing gold in an IRA or entirely outside of an IRA.

With some experts now saying they believe we may see another strong, double-digit move upward in the spot price of gold by the end of the year, why settle for gold securities when you can own the real thing? Call Augusta Precious Metals today at 855-242-4121 to learn more about adding gold bullion – actual gold – to your portfolio.

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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.