4 Reasons to Invest Gold in Your RRSP

4 Reasons to Invest Gold in Your RRSP

Gold has been in demand for a very long time, with the use of gold as money dating all the way back to 600 BC, when King Croesus of Lydia ordered the use of gold coins to pay for services and goods. This rule led to a widespread use of gold in many countries, and to this day, although it’s been largely usurped by the use of paper money, gold remains a stable store of wealth. And because gold is such a steady, reliable form of currency, it is perfectly suited to your RRSP. Here are 4 reasons why you should look into buying gold for your RRSP.

Firstly, buying gold in Canada has never been easier, through the help of reputable, accredited Canadian gold stores, where people can buy gold, silver or diamonds with the utmost privacy and assurance. Accredited companies help people buying gold in Canada by offering them new and more modern ways to acquire and invest; for instance, you can now make a direct purchase online, something you can visit Guildhallwealth.com to learn more about, if you’re interested.

Secondly, gold can help protect an individual from large-scale economic crises. A good example is the 2008 financial crisis, which saw many investors lose money. However, during this time, gold tripled while silver increased eight times more. Most people are not aware that when the dollar falls, then the price of gold rises, it is, therefore, considered to have a negative correlation against traditional portfolios, helping you hedge losses on your other investments.

Thirdly, the world is experiencing some troubled times, with conflicts in Syria and North Korea, as well as political instability elsewhere, in places traditionally known for their evenness, like Spain, the UK and the USA. All this instability negatively affects market, which in turn negatively affects your RRSP. But gold isn’t tied to the market in a traditional sense, and can offer protection against the volatility of the global market.

Finally, gold can also help protect an individual from inflation. Gold is considered a safe hedge against inflation, since it steadily increases in value over a long period, rather than dipping up and down like the roller coaster that is traditional currency. Silver, on the other hand, is not only as a monetary metal but an industrial one as well – with a lot of industries using silver to make ornaments, electronics, and other items – making silver affordable and undervalued.

But, you might be asking, how do you invest gold in your RRSP? Well, investing gold into your RRSPis dependent on the purity of the gold, which must be at least 99.5% pure. As long as the gold passes this mark of purity, then the individual is ready to invest. That’s why going through an accredited, reputable gold dealer is of the utmost importance; it would be awful if you acquired your gold from a pawnshop or online scam shop, only to find out that you couldn’t invest it. Hopefully with these tips you’ll be ready to start kicking market instability to the curb by investing gold in your RRSP.

Categories: Finance

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