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Posts Tagged ‘gold investors’

Gold Bullion IRA Plans Gaining Popularity as Government Shutdown Continues

Wednesday, October 9th, 2013

The first round of losses that drained over $3 trillion from American’s retirement accounts between 2005-2011 was not enough to convince some IRA holders to diversify their portfolios, and until recently it seemed to some that staying put was the smart move. Stocks, in general, have performed well, and inflation has not been shockingly obvious, at least if you go by our government’s inflation index (the one that doesn’t account for food and energy costs).

The government shutdown has changed all of that, however, as stock brokers are struggling to retain clients and investors are largely refusing to put their money into any type of long-term asset. Gold bullion prices have not changed much since the shutdown began, but the fact that the federal government – and the people we elected to manage our finances – has closed for business is more than enough for some investors to throw up their hands and say, “I’ve had enough!”

Many of these investors are opting to convert their assets into Gold Bullion IRA plans, for a couple of reasons. Gold bullion investments are extremely liquid, meaning they can be turned back into cash at any time. Gold bullion is one of the few IRA investments that you can actually put your hands on, provided you pay the taxes and, if you’re under the age of mandatory withdraws, the early withdraw penalty.

Gold bullion hasn’t exactly shone over the last few months, as it is down 5% in the last 30 days and about 25% year-over-year. Why, then are so many people who are close to retirement choosing to buy gold bullion when our economy is in such a fragile state? Because gold is not fragile. It is solid, it can (and has) withstand the test of time, governments and fiat currencies. While our elected officials fight over how much cash needs to be printed to get us through another couple of months, savvy investors are calculating how much cash they can do without.

Gold Bullion Smuggling on the Rise in India

Friday, September 20th, 2013

In an attempt to curb the country’s insatiable thirst for gold, the Indian government has been dramatically raising gold import costs, yet little has been done to satiate the national appetite and some have resorted to breaking Indian law to get their hands on gold bullion.

Despite assumptions that China was to overtake India as the world’s biggest consumer in 2012 India’s unquenchable thirst for gold held strong in 2012. According to the World Gold Council, the country imported 864.2 tons of gold last year, trumping China’s 776.1 tons. In an effort to bridle this rampant demand the Indian government has raised duties on the yellow metal repeatedly over the last 12 months. Just as many experts warned, however, the gold regulations have resulted in smuggling operations that brought as much as 250 tons of gold into the country illegally last year.

“The hike in customs duty has not stopped the import of gold into the country. It has only changed the route as smugglers earn a profit of around $3,719 on every kilogram of gold smuggled into the country,” said Bachhraj Bamalwa, chairman of the All India Gems and Jewelry Trade Federation.

It’s no surprise that India is still so hungry for gold, and gold investors can expect to see such demand for the foreseeable future. India’s appetite for gold has been a factor in the yellow metal’s current bull market, in which it has increased over 400 percent in the last 12 years. As demand for physical gold bullion and rare gold coins shows no signs of abating this year look for the gold price to rise despite the wishes of governments and central banks.

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