Category: Silver

More than one third of households owned an IRA in 2019, according to the Investment Company Institute. Are you part of this group? If so, you’re on the right track.

But are you considering what more you could do to help increase the strength of your retirement portfolio? A gold IRA rollover might be one of those tactics. Learn a little about the history of gold IRA rollovers, what they are, and how they’re typically done with help from partners like U.S. Money Reserve.

What Is a Rollover?

A rollover involves moving some retirement funds from an existing retirement plan—which could be a regular IRA, Roth IRA, or 401(k)—to a new IRA. Those funds must be deposited into your new IRA within 60 days. Under this scenario, you won’t owe taxes. But if you remove the funds from your current retirement account and fail to deposit them in the new account within a 60-day window, you must report the money to the IRS as taxable income. Per the IRS, only one rollover is allowed in any 12-month period, regardless of the number of IRAs you own.

What Is a Gold IRA Rollover?

One option for rolling over retirement funds is putting some into a gold IRA, also known as a precious metals IRA. When you transfer funds to this type of account, it’s known as a gold IRA rollover. The process involves switching all or part of a retirement portfolio to physical gold as a way to help shield your assets from economic and inflationary pressures.

The Taxpayer Relief Act of 1997 allows for the creation of gold IRAs.

A gold IRA is a self-directed retirement account that lets you keep physical gold and other precious metals (silver, platinum, and palladium) in the forms of coins and bars. This kind of IRA can be a traditional IRA or a Roth IRA.

How to Carry Out a Gold IRA Rollover

To set up a gold IRA, you must first open a self-directed IRA through a trustee or custodian—such as a bank, credit union, or trust company—that’s licensed and regulated by the IRS. U.S. Money Reserve can help with this process.

Once the gold IRA is open, you can start the rollover. You have two rollover options: indirect or direct.

Through an indirect rollover, you take the money out of your retirement account and put it into a gold IRA.

With a direct rollover, the funds are transferred automatically from the retirement account to the IRA. You never touch the funds. Once the old retirement account is closed, the manager of that account will send a check directly to the new IRA’s trustee or custodian.

Funds deposited into the IRA go toward purchasing physical gold or other precious metals through a trusted company like U.S. Money Reserve. The trustee or custodian holds those metals for the account holder.

One of the benefits of a gold IRA is that you directly control the assets you put into it, whereas you have less options when it comes to assets within a 401(k) and other traditional retirement accounts. A gold IRA also offers a clear and simple way to diversify your portfolio for the better.

Rolling over part of your IRA to physical gold could help alleviate some uncertainty you might feel about more traditional paper-based assets, like stocks. Get started with help from a U.S. Money Reserve IRA Account Executive and request our free Precious Metals IRA Information Kit today.

The post What Is a Gold IRA Rollover? appeared first on U.S. Money Reserve.

Kitco News

(Kitco News) – Regarding the physical supply of precious metals, Hug said demand and supply have evened out. Premiums on some products are similar to pre-COVID levels.

The post Gold could drop as much as 15% if election is contested – Hug appeared first on WorldSilverNews.

Kitco News

(Kitco News) – Copper is currently trading at a two-year high.

The post Gold will benefit from gov’t stimulus, but copper could run further appeared first on WorldSilverNews.

Kitco News

(Kitco News) – It has been another grind for gold investors, with the precious metals caught in a sticky consolidation phase. The yellow metal is being bought below $1,900 and sold above $1,920 an ounce.

The post Gold’s caught up in the election angst appeared first on WorldSilverNews.

“”silver price”” – Google News

Silver Weekly Price Forecast – Silver Markets Form Bears Candle  FX Empire

The post Silver Weekly Price Forecast – Silver Markets Form Bears Candle – FX Empire appeared first on WorldSilverNews.

Yahoo! Finance: SI=F News

The crude oil markets initially tried to rally during the week but gave back a bit of the gains to continue to show just how much noise there is in this market.

The post Crude Oil Weekly Price Forecast – Crude Oil Continues Range Bound appeared first on WorldSilverNews.

Silver COT Report
Fri, 10/23/2020 – 15:30

The view of precious metals as a necessary asset to help diversify a heathy portfolio is popular among seasoned professionals in the financial sector. Looking at their reasoning can give us valuable insights on a modern portfolio.

Financial institutions such as UBS and Citigroup have recommended gold recently.

In September of this year, the regional chief investment officer at UBS Global Wealth Management, Kelvin Tay, told CNBC’s Squawk Box, “In [the] event of uncertainty over the U.S. election and the COVID-19 pandemic, gold is a very, very good hedge.” This analysis makes sense, given gold’s longstanding reputation.

Citigroup analyst Aakash Doshi also spoke in favor of gold recently. He noted the election as just “one reason why we expect gold prices to hit fresh records before year-end.” Gold is often considered a “safe-haven” asset in times of rising political uncertainty.

However, election anxiety is far from the only reason many are looking into gold. Other portfolio holders seek precious metals for a variety of purposes.

Financial managers have also been looking to add gold to their own portfolios.

According to Forbes, Omega Advisors CEO Leon Cooperman recently said, “I bought gold for the first time in my life a week ago. I understand the case for gold. We’re on the way to some banana republic situation. Nobody’s worrying about the debt that’s being created.” His reference to debt is most likely in reference to the $3.1 trillion federal deficit for 2020. Gold has long been viewed as a hedge against the risks associated with a ballooning national debt.

Michael Kelly, global head of multi-asset at PineBridge Investments, is more concerned with low interest rates, telling The Wall Street Journal, “This is crystal clear: Financial repression is coming even to the U.S. and the U.K., and there will be negative real rates as far as the eye can see.”

Markets Insider recently laid out the case for owning gold.

A recent Markets Insider article stated that the main reasons for purchasing physical gold are its status as an inflation hedge, as a counterweight to stocks, and as a safe haven during times of uncertainty. The article also described the metal as “virtually indestructible.”

Consider these concerns and insights here when you are planning your own portfolio.

The post Gold Is Gaining Prominence appeared first on U.S. Money Reserve.

“Gold prices have plateaued right now. But I think they have a significant amount to go because we haven’t even seen the next stimulus unleashed yet.”

— Steve Rand, General Manager and Senior Precious Metals Advisor at Scottsdale Bullion & Coin

If you’re like most Americans, you’re ready for the pandemic to be over.

And the job’s data may have you think the worst is behind us.

But data can be tricky. It doesn’t always tell the whole story… It can’t show you the bustling city centers suddenly turned into ghost towns. The vacant office buildings. The sleeping malls and department stores. The anchor silently tightening around the economy’s neck.

The Fed says stimulus is the solution. But in the novel cure lies a veteran poison: inflation.

You’ve already witnessed its power, pushing spot gold prices to record highs past $2,067 an ounce.

But what happens after the Treasury prints the next $2 trillion. Because the worst, as it turns out, is far from over. And another $2 trillion after that?

How much more money printing could it take to send the dollar into freefall?

If and when the monetary experiment fails… Could the government resort to old remedies? To gold confiscation?

History may hold the answer. See what happened the last time the government confiscated Americans’ gold. Watch Gold Confiscation: A Timeline of Events now:

David Smith
Thu, 10/22/2020 – 11:30