The rise in gold might signal a completely new era. While it's easy to make fun of gold bugs, our time may have finally arrived.

Unexpectedly high US inflation and a general feeling of unease about everything from the November presidential election to international relations, which is influenced by geographic factors, to the future course of markets and monetary policy have coincided with recent spikes in the price of precious metals.

These are all predictable causes of the gold boom.

Historically, gold has served as an inflation hedge. But when investors are concerned about the stability of the status quo, they also turn to it. When a significant turning point occurs in the world, as it is right now, it will emerge after a decline for decades.

The following graph, which is based on data as of 10-25-2024 at 9 a.m. ET, illustrates the annual trend of the spot price of gold.

Source

Gold has up 32.20% since the start of the year.

Keep in mind that the real-time quote for the spot price of gold indicates the current price at which it may be purchased or sold for immediate delivery. When most investors choose to buy or sell their gold, the current price typically varies from the price they will pay or get.

Spot prices serve as a broad standard for gold prices. Depending on your approach, real gold trading results can differ in practice.

Is it a good time to buy gold?

It is my experience that timing the market to invest in gold is nearly impossible. Price swings are hard to forecast, and gold can be a very volatile asset.

The current state of the market will determine if gold is a wise investment. It would be wise to think of things that are unique and personal to you and take then into account. It may be more crucial than anything else to consider your investment objectives¹, risk tolerance², and time horizon³.

Those who are overly invested in stocks and bonds may use gold to diversify their holdings. But there is no performance guarantee, just like with many investments.

What is the ideal amount of gold to have in my investment portfolio?

Although gold can have a significant impact on your financial strategy, it shouldn't make up the majority of your investment portfolio. Depending on your risk tolerance, the experts advise keeping gold in your portfolio at a maximum of 3% to 6%.⁴

^{(I'm not a financial adviser)}

Reference

https://www.usatoday.com/money/blueprint/investing/gold-price-10-25-2024/
https://www.cbsnews.com/news/is-gold-investing-right-for-you-heres-how-to-decide/
https://www.nerdwallet.com/article/investing/how-to-buy-gold?msockid=0be4df0102216c8e196dcbf2034b6d74
¹https://www.investopedia.com/managing-wealth/basic-investment-objectives/
²https://www.investopedia.com/terms/r/risktolerance.asp
³https://www.investopedia.com/terms/t/timehorizon.asp
⁴
https://www.forbes.com/advisor/investing/guide-to-investing-in-gold/

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