As long as people continue to see it as a valuable commodity, the price of gold is likely to remain a good hedge against inflation.
Secondly, gold diversifies your portfolio.
If you've taken a look at your retirement savings in 2022 then you're already familiar with the negative consequences of inflation and poor stock market performances.
This is why it makes sense to diversify your portfolio and not put all your eggs in one basket.
That doesn't mean you need to radically change your investments, however. Even 5 percent in gold can potentially help.
Edward Karr, the founder of U.S. Gold Corp. said that just a small percentage dedicated to gold mining equities or physical gold could potentially help to reduce an overall portfolio's risk and potentially increase the long-term returns.
Instead of tying up all of your money in stocks and bonds, spreading it among different investment types could better help you manage your risk and return.
RECOMMENDATIONS:
With the economy uneven and the prospects of any potential financial relief unclear, now is a good time to review your investments.
Depending on your personal circumstances, age and financial goals, gold can be an investment worth pursuing.
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