Gold soars as tariffs spark concerns of a global trade war. Here's how to use gold to diversifying your portfolio and a hedge against inflation.
The article from MSN Money discusses three strategies for building long-term wealth with gold, especially in light of its recent record high prices. Firstly, investing in physical gold like bars, coins, or jewelry is highlighted as a traditional method, offering tangible assets that can be held or stored. Secondly, gold ETFs (Exchange Traded Funds) are recommended for those looking for a more liquid and less cumbersome way to invest in gold without the need for physical storage. ETFs track the price of gold and can be bought and sold like stocks. Lastly, gold mining stocks are suggested as another avenue, where investors can benefit not only from the rise in gold prices but also from the operational success of the mining companies. These stocks can offer higher potential returns but come with increased risk due to company-specific issues like management, production costs, and geopolitical risks. The article emphasizes the importance of diversification and understanding the risks associated with each method of investing in gold.
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