Gold is a precious metal that is a tangible asset. The beauty of gold is that it keeps its value whether there is inflation or deflation. It keeps its value when there are political upheavals and fluctuations in the stock market. Even if people don’t think that these types of disasters are on the horizon, there are still good reasons to invest in gold and consider a gold IRA.
Gold is such a stable asset that it is one of the few commodities that the IRS is okay with IRAs investing in. There are a couple of things that retail investors should know before they invest in a gold IRA that can help them make sure they are getting the most bang for their buck and receiving the protection that they want.
People who want to have physical gold in an IRA cannot do so with a typical IRA account. They need to have one that has been created specifically for gold. They are also referred to as precious metal IRAs. These IRAs have a lot of the same attributes as the traditional individual requirement account. They have the same distribution roles and contribution limits.
These IRAs are set aside for holding physical bouillon. This includes coins or bars of gold and other preapproved precious metals, ranging from platinum to silver to palladium.