Gold Reaches an All-Time High and IRA Investors are Responding

On consecutive days this week, the price of gold has climbed to record levels. On Wednesday, November 11th, the price per ounce had risen to $1117.05. This may have been what many of our clients were expecting when they opened up precious metals IRA accounts with our office over the past several months. With the dollar in such a decline, many investors have been on the lookout for physical assets like gold to rise substantially. While many of our clients have cited the purchase of precious metals in their IRA as a hedge, I am not hearing any complaints about the gains.
With more and more people becoming educated about the IRS allowing gold in an IRA, we are really seeing quite a spike in the number of new precious metals IRA accounts. I can’t help but be a little surprised that it has taken until recently for this type of IRA to really take off. The fact is, individuals have been allowed to invest their IRA’s into precious metals beginning in 1986. The problem is that many investors are led to believe that this is not a possibility, or is simply not a good route to take; usually this is by their stock broker or financial representative. This can typically be attributed to those professionals having a conflict of interest with their clients sending their funds to an investment they do not sell.
Our clients are more of the mind that they can make the best decisions for their own accounts, and to that respect, there are plenty that are buying gold and other precious metals. We do not have any conflict of interest here at Entrust, as we neither sell any endorsements, nor do we endorse any specific investment type. We do, however, offer plenty of education on allowable IRA investments, as well as how the process works. Those looking into precious metals IRA’s or other self-directed investments are welcome to join us for one of our free webinars by going to www.entrustfreedom.com. You may also call us to speak to one of our qualified representatives at 239-333-1031.