In recent years, the U.S. economy has experienced a number of challenges — including inflation that climbed to 9.1%, the highest level since 1981, and rising interest rates that have made car, home, and other loans more expensive and impacted Americans’ ability to save.
As a result, many consumers are looking for ways to help safeguard their retirement plans. Some are choosing to add gold, silver, platinum, and palladium assets to their portfolio.
An article published by Financial Digest describes how one portfolio holder, Katie, chose to incorporate precious metals into her savings approach after losing confidence in the state — and future — of the economy.
“I decided to diversify mainly because of where we are as a nation, with our debt that the government has and the [purchasing power] of the dollar, and how [that] continues to drop,” Katie explained.
Half of the money Katie and her husband had saved, she said, was lost during the Great Recession. However, she noted, the price of gold increased at the time.
With retirement approaching, Katie had sought alternatives to the U.S. dollar — which she said is “just paper” that’s backed by nothing — to help protect her family financially and create a tangible inheritance for her two daughters, thirteen grandchildren, and four great-grandchildren.
“You need a whole basketful of different ways of preserving wealth or creating wealth,” Katie said. “Gold and silver are a way of doing that, so I went back on the gold standard.”
Reasons Why U.S. Consumers Opt to Purchase Physical Precious Metals Assets
Portfolio holder Rich D. says he looked into three companies when preparing to convert his savings to gold — and ultimately opted to work with U.S. Money Reserve.
“As our country and the world [seem] to be in such turmoil, I knew I had to make a different choice with my savings to protect it,” he said in a review posted on the Better Business Bureau’s website in May 2023. “Gold, I found, is the way to protect it.”
Eric L. contacted U.S. Money Reserve to learn about precious metals and how having gold and silver in his portfolio could potentially help anchor it against the volatility the stock market can experience.
“[I] netted my first purchase and [am] now considering another,” he said in a review of the company.
In the same Financial Digest article mentioned above, another portfolio holder, Dan, is quoted as saying that he added precious metal assets to his portfolio in 2011 because of concerns with the stock market.
“I started getting into precious metals and moving money out of the stock market to try and protect some of it,” he said. “Makes more sense to me than a piece of paper.”
Seven years after he began working with U.S. Money Reserve, Dan said he was able to confidently retire.
“Precious metals have given me security in my life, knowing that my family’s taken care of and that my future is taken care of,” he said.
What’s Influencing Precious Metals Activity?
In addition to interest from portfolio holders, precious metals’ usage in various electronic, industrial, and other applications could help increase demand for the assets.
Platinum, for example, is utilized in catalytic converters in cars and other vehicles to help remove harmful chemicals from engine exhaust systems.
The auto industry has had a robust 2023; initial estimates suggest total new vehicle sales had risen 15% year-over-year as of August, the industry’s fifth consecutive month of double-digit sales growth, according to J.D. Power and GlobalData.
If sales continue to be strong, the need for catalytic converter components, including platinum, could follow suit. The overall demand for platinum is expected to increase 27% this year, according to a recent World Platinum Investment Council (WPIC) report.
However, citing factors such as electricity shortages in South Africa, a major platinum producer, the Council also anticipates the available supply of platinum will total one million troy ounces less than is needed this year — a 2.2% increase from WPIC’s original projection.
Platinum mine–related production in Russia — another leading source of platinum — has also declined in the past few years.
How to Add Precious Metals to a Portfolio
If you’re unfamiliar with the steps that are involved in establishing and funding a self-directed precious metals–backed IRA, guidance from a precious metals distributor such as U.S. Money Reserve may be helpful.
A U.S. Money Reserve IRA Account Executive can walk you through the various aspects involved in signing up for an account, including completing your application, coordinating the set-up details with your new IRA custodian, and facilitating funds being transferred to the account.
According to portfolio holder Glenzetta S., U.S. Money Reserve, in her experience, “explained the process well.”
“I recommend this company to anyone interested in gold,” she said in a post on the Better Business Bureau website.
Founded in 2001, U.S. Money Reserve is one of the country’s largest distributors of government-issued gold, silver, platinum, and palladium.
The company — which is led by company President Philip N. Diehl, who served as the 35th Director of the U.S. Mint — helps portfolio owners establish a diversification plan that’s personalized to their goals. In the past 22 years, U.S. Money Reserve has shipped more than $2.5 billion in precious metals and served more than 785,000 clients.
Through the company’s buyback commitment, customers can return certified coin purchases within 30 days or potentially sell them back to U.S. Money Reserve at a later time. To help keep asset holders up to date on the latest precious metals developments, U.S. Money Reserve also provides frequent market news alerts, special reports, precious metals price charts, and other informative resources via its website.
Reviews that customers have written about their experiences working with U.S. Money Reserve generally, according to Finance Digest, “express overwhelming satisfaction with the company’s service.” Some have described the company as the only precious metals distributor they will work with.
Visit U.S. Money Reserve’s website to find out more about precious metals–backed IRAs and view the available inventory of certified coins and government-issued bullion, bars, and other items you can purchase online.
You can also call 1-888-356-7074 to place an order or speak with an experienced U.S. Money Reserve Account Executive about your current portfolio status and plans for the future.