Gold IRA Investment
Precious Metals IRA Investing
When asked about the world’s top 5 precious metals, the man in the street will probably say: platinum, gold, silver, bronze and copper. Whereas in reality, only two of these would be correct and only three would be correct out of the top 10 (platinum, gold and silver).
With precious metal prices fluctuating, the top 5 may change slightly, with number 6 occasionally moving into the category. The top 5 we are choosing here are essentially those used for investment or industrial purposes:
(1) PLATINUM: Probably the rarest of the precious metals and approximately 30 times rarer than gold.
Platinum is used for making jewellery, spark plug tips and watches and many other applications such as dentistry, weaponry and aeronautics.
Predominantly found in South Africa, Russia and Canada.
Current spot price stands at $1406/oz (kitco)
(2) GOLD: The most recognised and common precious metal in the world.
It is considered the most malleable and ductile of all of the precious metals, making it suitable for both jewellery and commercial applications. It's even used as a protective coating in several artificial satellites.
The major goldmines are found in South Africa, USA, Australia and China.
Current spot price stands at $1324/oz (kitco).
(3) RHODIUM: Commonly used for its reflective properties such as searchlights and mirrors, and also found in the automotive industry for catalytic applications.
A member of the platinum group of metals, Rhodium is a hard, silvery, durable metal that has high reflectance.
White gold is often plated with a thin layer of rhodium to improve its appearance, and sterling silver is often rhodium plated for tarnish resistance.
Approximately 60% of Rhodium is mined in South Africa and Russia.
Current Spot Price stands at $1020/oz (Kitco).
(4) PALLADIUM: Discovered in the early 1800’s and equally as rare as platinum.
Main uses include: catalytic converters, computer components and mobile phones.
As jewellery, its attraction is the creation of ‘white gold’ alloys. Almost 50% of Palladium comes from Russia, and the next largest suppliers include South Africa, USA and Canada.
Current spot price stands at $720/oz (kitco)
(5) RHENIUM: One of the top ten most expensive metals and the last of the naturally occurring stable elements to be discovered (1925).
Its extremely high melting point and density makes it ideal to be used in the construction of commercial jet engines as well as filaments and other electrical contact materials. The world's largest rhenium reserves can be found in Chile as well as Kazakhstan and USA.
Current spot price stands at $107/oz (goldandpreciousmetals.com).
The second most well-known metal in the world, and often seen in jewellery, commercial applications and even medicines, is Silver. However with silver trading at $21/oz, it cannot fall into the top 5 most precious metals category - but is a deserved mention.
Are You Ready to Start Investing in Precious Metals?
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Gold is the most obvious and most popular choice of the preferred precious metals and has always been regarded as the most coveted metal to own.
A gold IRA can be used as a further hedge against the nighmare scenario of losing some or all of the value of your retirement plans. It can also provide added protection against losing the value of your hard-earned cash or savings over the coming years of financial uncertainty.
This site is dedicated to providing valuable information and solutions for those who have an interest in adding gold to their portfolios or retirement funds by using a Gold IRA Investing or Gold Backed IRA Strategy.
For more information, please visit our articles
There are two primary types of Gold IRA: Gold Roth IRA and Traditional IRA.
The main difference between the two is that money added to a Gold Roth IRA is taxed at the time it is added to the account and distributed tax-free when withdrawn. Whereas money added to a Traditional Gold IRA is tax-free when added and taxable when the investor withdraws the money from their account. Gold IRAs
are bound by the same rules as other IRAs; they simply use precious metals as the investment asset in the account. Other types of Precious Metal IRA include Platinum, Palladium and Silver IRAs.
Gold investing has become more popular in recent years as a result of the global economic downturn, inflation, and the fact that it is now easier than ever to set up your own precious metals ira. Gold IRA Fund
provides you with valuable info and resources covering all aspects of gold ira investment - including gold ira rollovers and the benefits of investing in precious metals. Plus, we provide you with the ability to start investing in gold safely and confidently by introducing you to the most trusted and highly respected gold investment company operating online today.