Gold prices have been rising this year. Here's what experts say to do now as we head into the fall.
In an economy with elevated but cooling inflation, a volatile stock market, and other factors, diversifying your investments is more important than ever. Gold is a popular choice for this purpose, as it works as a safe haven, often protecting your dollars against inflation and fluctuations in other asset classes.It can also provide growth, as evidenced by gold's price climbing from under $2,000 per ounce to more than $2,400 per ounce over the last eight months.
'On top of the potential growth gold has to offer, there's also the risk of a recession or dip in the stock market to consider. If this were to happen, investments in gold could help provide some protection. 'Gold represents a portfolio hedge since it does not move in sync with the stock market,' says Rick Miller, an investment advisor representative and owner of Miller Investment Management in Manassas, Virginia.
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