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A Gold IRA (also known as a Precious Metals IRA) is a US Individual Retirement Account that contains real physical gold or other government allowed precious metals which are held in custody for the IRA account owner(s).
This type of IRA works in an identical way that typical IRAs do, such as traditional and Roth IRAs, with the exception that rather than paper assets a Gold IRA holds genuine physical bullion composed of real gold coins or bars of a federally certified level of fineness and investment grade high quality.
A Gold IRA is a Self Directed IRA, in this is a type of IRA the custodian allows a more significant diversity of potential investments than non-self directed IRAs.
Buying physical gold and hold them into your IRA, can minimize the volatility of your over-all retirement or investment portfolio.
Historically speaking, gold has survived over 5,000 years of man made market manipulations, and paper currencies that fail quite frequently. Gold is the safest and most reliable long term investment in the world.
Together with other precious metals like silver and platinum, gold price generally move independent of stocks and bonds. If an economic recession hits, gold could provide the security and liquidity that your portfolio needs.
For this reason, dedicate a percentage of your portfolio to physical gold can help balance your portfolio and protect it from economic downturns.
Whatever your traditional investment preferences, a physical asset like gold can improve the profitability and safety of your retirement account substantially.