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Precious Metals And Mining Mutual Funds Are At The Vanguard Of Retirement Investing
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Precious Metals And Mining Mutual Funds Are at the Vanguard Of Retirement Investing

Precious metals have been more than just a commodity or luxury item for thousands of years. Gold and silver have been used successfully as sound units of currency for millenia by various, advanced, ancient civilizations. Unlike land, livestock, salt, cigarettes, or even paper currency, gold has the following beneficial properties for use as a monetary unit:

  • It doesn't break down, rust, or corrode
  • It is easily divisible (can be melted down)
  • It is not a perishable item
  • It can be easily transported
  • It has an inherent value other than use for currency
  • It is not consumable
  • In its purest form, it is consistent no matter where it comes from
  • Unlike paper currency, gold cannot be created by the government
  • It can not be counterfeit or faked

Aside from the quality characteristics as a monetary unit, precious metals like gold and silver have an inherent value because of their chemical properties which are advantageous, and sometimes downright a necessity, to industry.

Gold, along with silver, has the best heat and electrical conductivity. Gold is also excellent for radiation protection (as used by space helmets for protecting astronauts from the sun). It is the most malleable and ductile natural element known to man (one ounce of gold can be beaten without crumbling into a 300 square foot sheet so thin it becomes transparent).

Gold and silver are both extremely useful in many types of industry, but they are also coveted by many affluent peoples and governments around the world. The US government moved away from the gold standard in 1971, but they now have one of the largest gold reserves in the world. Hyperinflation is inevitable in the US now as history has proved for many different countries around the globe.

Instead of gambling retirement on the shaky financial markets that are vulnerable to complete collapse, many individuals have made the intelligent move to transfer their IRA or 401K into a silver or gold retirement account. There are countless reasons why precious metals and mining mutual funds are at the vanguard for retirement investing, but most people still look at these commodities the same way they view the stock market or other mutual funds.

The fact is stocks, mutual funds, CDs, bonds, and many other types of financial markets all base their foundation on paper currency or interest paid by banks and other financial institutions. When a paper currency is no longer backed by a tangible asset (like precious metals), these financial markets are destined to fail.

Many billionaires have already made the switch to gold, silver, platinum, or palladium. In 2001, the price of gold per ounce was $300. Today, the price of gold is roughly between $1650 and $1700 per ounce. Within the next few years, gold is projected to be worth $2200 per ounce, and its price is expected to triple within the decade.

Investing in a precious metals/mining mutual fund is one of the most secure ways to ensure a stable and growing retirement income. The question isn't whether to invest in gold but where to do it.

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