What a Turkey of a Week
Posted By | July 19, 2016
If ever there was a week that showed you why it pays to own gold, last week was it. Shootings in this country, terrorist attack in Nice, France, and the hundreds dead thanks to an attempted coup in Turkey. Gold was up $5.50 an ounce as news of tanks rumbling over the bridges linking Istanbul to Asia hit all the major news outlets. The events of last week and the corresponding increase in the price of gold represent a perfect illustration of my belief that the price of gold traditionally increases in times of turmoil and instability.
These events are part of the big picture I have been talking about for years: The world can be a harsh, unsafe and even desperate place at times, and you can’t predict when things will go south quickly. Bad things happen. A prudent investor takes measures to prepare for economic downturns.
I have talked about a number of actions that make sense to me.
First of all, create contingency plans for economic downturns. History shows us that they happen, and history repeats itself. We go through times of prosperity, and times of economic instability, recession, and even depression. A smart investor prepares for bad times by diversifying assets. Then, if a certain class of assets, such as stock market investments, hit hard times, the overall portfolio may not suffer much because alternative assets, such as precious metals, may be thriving during such a downturn in stocks. If an investor has all of his money invested in one thing, he or she will be very sorry when that asset class crashes. If, however, the investor diversifies into multiple asset classes, a personal economic crisis can be averted. I believe gold is a great alternative investment and that every retirement account should include some precious metals. Historically, gold is strong in times of economic turmoil and geopolitical unrest.
I believe it is smart to invest some of your money in gold, the asset that can’t be devalued and that has withstood the test of time. Open an Augusta™ Gold IRA today from Augusta Precious Metals and diversify your portfolio, so you are prepared for another economic recession or even worse, another depression.
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