It is expected to be announced at the upcoming BRICS summit that the alliance will be creating a new trade currency backed by gold. The news sent the entire precious metals complex surging to fresh multi-month highs.
One question that experts have heard since the news of a new gold-backed currency is regarding investors in Gold.
There is a way to set up an individual retirement account to hold gold as a qualified retirement investment. This is a Gold IRA, and many investors opt for this type of account to hold physical metals such as bullion or coins, as well as precious metals-related securities within their portfolio.
With curiosity surrounding the new currency, investors are left wondering if the BRICS Summit presents a golden opportunity to consider diversifying their retirement accounts into Gold IRAs.
Should You Invest In Gold IRA Before The 2023 BRICS Summit?
Some experts suggest that with the gold-backed BRICS currency looking imminent, it may be wise to look into a Gold IRA.
For example, experts assume that gold, being a tangible and historically trusted asset, can serve as a valuable hedge against potential currency fluctuations and devaluation. With the growing de-dollarization globally, Gold may be a prominent, safe asset.
A Gold IRA allows future retirees to diversify their retirement portfolios beyond traditional assets like stocks and bonds. With the BRICS gold currency potentially coming soon, the demand for gold may begin to gain momentum. Hence, its value will only grow.
It’s important to note that starting a Gold IRA involves complying with IRS regulations and understanding rules and procedures. Seeking advice from financial professionals and conducting thorough research is crucial in making informed decisions when starting a Gold IRA. Be sure to do this before deciding to start an account. Additionally, do this research before Gold potentially soars after a BRICS currency announcement is made at the upcoming summit.