Why you should invest in gold before May – CBS News

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April 18, 2024 / 10:51 AM EDT / CBS News
When it comes to investing in the right asset, timing is key. And for much of the last two years, the timing has been right to invest in gold. Thanks to its traditional ability to hedge against inflation and offer portfolio diversification, many have turned to the precious metal for help in an inflationary environment. Investing in the yellow metal hit an 11-year high last summer and it has broken numerous price records just since March 1
Understanding this, then, many investors may want to get started. But with the price surging and inflation problematic, it may be smart to get started right now, before the start of a new month. Below, we’ll break down three reasons why you should invest in gold before May. 
Start exploring your gold investing options here to learn more about this unique opportunity.
Here are three big reasons to invest in gold before May 1.
Gold has hit numerous record price highs in recent weeks, starting at $2,160 in early March to $2,259.29 on April 1 and $2,379.76 per ounce today. There’s no telling where the price could be heading but many experts are predicting additional increases
If that’s the case, then, the price of the precious metal could soon become out of reach for many, possibly even before May 1. It’s beneficial, then, to get invested before that happens. And, if you do, you may even have the rare chance to buy and sell at a quick profit (a rare benefit for an investment not typically known for rapid income production). Just don’t wait too much longer.
Get started with your gold investment here today.
Gold tends to maintain its value and even rise in price when inflation is problematic. And it still is, after reports for February and March showed it rising again. Inflation has remained so stubborn that now even some Fed officials are questioning whether interest rate cuts should be tabled for the remainder of 2024. 
Trying to get ahead of the curve, then, investors could benefit from adding some gold to their portfolio. By adding a limited amount of gold (10% or less) to their investments, many could benefit now if inflation continues to run hot.
Gold is considered a safe-haven asset, particularly when global and political turmoil is high, as it is right now. With wars in the Middle East and Europe ongoing and a presidential election in the United States just months away, turmoil and unrest are bound to continue throughout the year. 
Against this backdrop, investors may benefit from adding some safer, less volatile assets to their portfolios to offset any drops experienced by stocks and bonds. Gold can be a smart way to do just that, especially now.
Learn more about your gold investing options online now.
The best time to invest in any asset varies. But right now is one of the better times to invest in gold. Because the price is rising (and could become out of reach), inflation is increasing again and with global and political turmoil elevated, many would benefit from the value and security gold can provide today. As with all investments, however, it’s important to weigh the pros and cons of gold so that you don’t wind up eliminating the benefits other assets can offer, too.
Matt Richardson is the managing editor for the Managing Your Money section for CBSNews.com. He writes and edits content about personal finance ranging from savings to investing to insurance.
First published on April 18, 2024 / 10:51 AM EDT
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