The Ira Epstein gold report is a daily commentary on the metals markets by the veteran futures trader. It offers price updates and commentary on geopolitical and economic issues. Epstein specializes in teaching investors about the fundamentals of the metals markets. He began his career on the CME floor, and now heads a division of Linn & Associates.
ira epstein's gold report
Ira Epstein's gold report is a daily gold market update. It focuses on geopolitical and economic trends, and explains the technical fundamentals behind metals markets. It is not a guarantee of profit, but it's a great way to keep up to date on market news.
ira epstein's bullish bias
The gold report from Ira Epstein is a gold market commentary and daily updates. He provides commentary on geopolitical and economic issues and teaches investors the basics of the metals market. Previously, Epstein worked as a runner on the CME floor and now runs a division of Linn & Associates, a hedge fund that focuses on commodities.
Epstein expects gold to stay in a weak trend in the near term, with a short-term bounce possible. He sees resistance in the $1,185 to $1,200 region and pegs a downside target of $1,120 per ounce. Epstein points out that the U.S. economic calendar is packed with data, including initial jobless claims and retail sales. Also due on Friday is the Michigan sentiment survey. Additionally, the Federal Open Market Committee is holding its press conference.
ira epstein's lack of trading recommendations
Many of his subscribers have complained about Ira Epstein's lack of trading recommendations. However, his lack of trading recommendations is not the sole reason for these negative reviews. While the trading recommendations he does issue are not as detailed as some might think, his videos still offer valuable information that can help investors make sound decisions. Moreover, his subscribers are able to benefit from his extensive knowledge of the markets through “Futures Videos.”
ira epstein's market outlook
According to Ira Epstein, president of the Chicago-based Ira Epstein and Co. Futures, gold prices are capped, due to a large number of short position holders. He also notes that physical demand for gold remains strong but remains below the high levels seen in April. The price range of gold is also very narrow, which concerns Epstein. However, he said that historically, gold tends to be higher in the beginning of July.
Frequently Asked Questions
Can I hold physical gold in my IRA?
Not only is gold paper currency, but it's also money. Gold is an asset people have used for thousands years as a place to store value and protect their wealth from economic uncertainty and inflation. Today, investors invest in gold as part a diversified portfolio. This is because gold tends do better in financial turmoil.
Many Americans now invest in precious metals. It's not guaranteed that you'll make any money investing gold, but there are several reasons it might be worthwhile to add gold to retirement funds.
Another reason is the fact that gold historically has performed better than other assets in times of financial panic. Gold prices rose nearly 100 percent between August 2011 and early 2013, while the S&P 500 fell 21 percent over the same period. Gold was one asset that outperformed stocks in turbulent market conditions.
Another benefit to investing in gold? It has virtually zero counterparty exposure. You still have your shares even if your stock portfolio falls. But if you own gold, its value will increase even if the company you invested in defaults on its debt.
Finally, gold provides liquidity. You can sell your gold at any time without worrying about finding a buyer, which is a major advantage over other investments. You can buy gold in small amounts because it is so liquid. This allows you take advantage of the short-term fluctuations that occur in the gold markets.
Should You Invest Gold in Retirement?
It depends on how much you have saved and if gold was available at the time you started saving. If you are unsure of which option to invest in, consider both.
Gold offers potential returns and is therefore a safe investment. Retirement investors will find gold a worthy investment.
While most investments offer fixed rates of return, gold tends to fluctuate. This causes its value to fluctuate over time.
But this doesn't mean you shouldn't invest in gold. This just means you need to account for fluctuations in your overall portfolio.
Another benefit to gold? It's a tangible asset. Unlike stocks and bonds, gold is easier to store. It can also be carried.
As long as you keep your gold in a secure location, you can always access it. There are no storage charges for holding physical gold.
Investing in gold can help protect against inflation. Because gold prices tend to rise along with other commodities, it's a good way to hedge against rising costs.
Additionally, it will be a benefit to have some of your savings invested into something that won't lose value. Gold usually rises when stocks fall.
Another benefit to investing in gold? You can always sell it. You can also liquidate your gold position at any time you need cash, just like stocks. You don't even have to wait until you retire.
If you do decide to invest in gold, make sure to diversify your holdings. Do not put all your eggs in one basket.
Also, don't buy too much at once. Start by purchasing a few ounces. Add more as you're able.
The goal is not to become rich quick. Instead, the goal here is to build enough wealth to not need to rely upon Social Security benefits.
Gold may not be the most attractive investment, but it could be a great complement to any retirement strategy.
What are the pros and disadvantages of a gold IRA
An Individual Retirement account (IRA) is a better option than regular savings accounts in that interest earned is exempted from tax. An IRA is a good choice for those who want a way to save some money but don’t want the tax. This type of investment has its downsides.
If you withdraw too many funds from your IRA at once, you may lose all your accumulated assets. You may also be prohibited by the IRS from making withdrawals from an IRA after you turn 59 1/2. If you do decide to withdraw funds from your IRA, you'll likely need to pay a penalty fee.
Another problem is the cost of managing your IRA. Many banks charge between 0.5%-2.0% per year. Other providers charge monthly management fees ranging from $10 to $50.
If you prefer to keep your money outside a bank, you'll need to purchase insurance. A majority of insurance companies require that you possess a minimum amount gold to be eligible for a claim. You may be required by some insurers to purchase insurance that covers losses as high as $500,000.
If you are considering a Gold IRA, you need to first decide how much of it you would like to use. Some providers restrict the amount you can own in gold. Some providers allow you to choose your weight.
It's also important to decide whether or not to buy gold futures contracts. Physical gold is more costly than gold futures. However, futures contracts give you flexibility when buying gold. They allow you to set up a contract with a specific expiration date.
You'll also need to decide what kind of insurance coverage you want. The standard policy doesn’t provide theft protection or loss due fire, flood, or earthquake. However, it does cover damage caused by natural disasters. If you live in a high-risk area, you may want to add additional coverage.
You should also consider the cost of storage for your gold. Insurance won't cover storage costs. Banks charge between $25 and $40 per month for safekeeping.
You must first contact a qualified custodian before you open a gold IRA. A custodian helps you keep track of your investments, and ensures compliance with federal regulations. Custodians aren't allowed to sell your assets. Instead, they must maintain them for as long a time as you request.
Once you have chosen the right type of IRA to suit your needs, it is time to fill out paperwork defining your goals. Your plan should include information about the investments you want to make, such as stocks, bonds, mutual funds, or real estate. It is also important to specify how much money you will invest each month.
Once you have completed the forms, you will need to mail them to your provider with a check and a small deposit. Once the company has received your application, they will review it and send you a confirmation email.
Consider consulting a financial advisor when opening a golden IRA. Financial planners are experts at investing and can help you determine which type of IRA is best for you. You can also reduce your insurance costs by working with them to find lower-cost alternatives.
How is gold taxed in an IRA?
The tax on the sale of gold is based on its fair market value when sold. You don't have tax to pay when you buy or sell gold. It's not considered income. If you decide to make a sale of it, you'll be entitled to a taxable loss if the value goes up.
As collateral for loans, gold is possible. When you borrow against your assets, lenders try to find the highest return possible. This usually involves selling your gold. This is not always possible. They may hold on to it. They might decide that they want to resell it. Either way, you lose potential profit.
So to avoid losing money, you should only lend against your gold if you plan to use it as collateral. It's better to keep it alone.
Is buying gold a good way to save money for retirement?
Although it may not look appealing at first, buying gold for investment is worth considering when you consider the global average gold consumption per year.
The best form of investing is physical bullion, which is the most widely used. There are other ways to invest gold. You should research all options thoroughly before making a decision on which option you prefer.
If you don’t have the funds to invest in safe places, such as a safe deposit box or mining equipment companies, buying shares of these companies might be a better investment. If you require cash flow, gold stocks can work well.
You can also put your money in exchange traded funds (ETFs). These funds allow you to be exposed to the price and value of gold by holding gold related securities. These ETFs may include stocks that are owned by gold miners or precious metals refining companies as well as commodity trading firms.
What precious metal should I invest in?
Answering this question will depend on your willingness to take some risk and the return you seek. Although gold has been considered a safe investment, it is not always the most lucrative. You might not want to invest in gold if you're looking for quick returns. If you have the patience to wait, then you might consider investing in silver.
If you don’t desire to become rich quickly, gold may be your best option. If you want to invest in long-term, steady returns, silver is a better choice.
Can I hold a gold ETF in a Roth IRA?
While a 401k may not offer this option for you, it is worth considering other options, such an Individual Retirement Plan (IRA).
Traditional IRAs allow for contributions from both employees and employers. An Employee Stock Ownership Plan (ESOP) is another way to invest in publicly traded companies.
An ESOP provides tax advantages because employees share ownership of company stock and profits the business generates. The money in the ESOP can then be subject to lower tax rates than if the money were in the individual's hands.
A Individual Retirement Annuity (IRA), is also available. With an IRA, you make regular payments to yourself throughout your lifetime and receive income during retirement. Contributions to IRAs will not be taxed
Statistics
- (Basically, if your GDP grows by 2%, you need miners to dig 2% more gold out of the ground every year to keep prices steady.) (smartasset.com)
- Instead, the economy improved, stocks rebounded, and gold plunged, losing 28 percent of its value in 2013. (aarp.org)
- You can only purchase gold bars at least 99.5% purity. (forbes.com)
- Indeed, several financial advisers interviewed for this article suggest you invest 5 to 15 percent of your portfolio in gold, just in case. (aarp.org)
- Gold is considered a collectible, and profits from a sale are taxed at a maximum rate of 28 percent. (aarp.org)
External Links
forbes.com
- Gold IRA: Add some sparkle to your retirement nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
