The gold industry in the US has known its ups & downs, but these days, it is regaining its high reputation among investors and financial decision makers.
In 1933, the then U.S. President Franklin Roosevelt made it illegal for Americans to buy and stock gold.
However, 40 years later, there ban was lifted and the buying and trading of gold as a commodity became a possibility in the USA Gold Market.
Facts about the USA Gold Market:
The Great Depression in the United States was the primary reason for the ban. The supply of gold was declining gradually and the U.S. gold reserves were decreasing. According to the then enacted law, owning more than $100 in gold was illegal. Therefore, people had to exchange their gold for money. The Treasury Department of the United States converted gold coins into bars. This helped to keep the U.S. dollar alive.
Earlier, the wealthy and aristocratic European and Asian families held a large percentage of their assets in gold. This was more as a means of protection. Over the years, Americans followed the same logic especially the upper middle class.
Many investors in the United States buy gold not because of the fear that the prices will rise, but because of insuring their portfolios from crashing that has a relation to currency degradation. The currency might be from any part of the world including the dollar, euro, yen, or rupee. Individuals who run their own business invest heavily in gold. Individuals with family wealth have moved to diversify their investments into gold in recent years.
A professional gold firm can help investors avoid problems and give them the right direction. The most crucial element for Americans, who wish to invest in gold, is choosing the correct gold firm from the USA Gold Industry.
The biggest mistake that investors make here is they buy gold that has little or no relationship to their objectives. Gold stocks too get a place in the portfolios of individuals. However, they are not a substitute for real gold ownership. There is a significant difference in owning stocks and owning metal.
Americans who wish to protect themselves against inflation, deflation, potential currency problems, and stock market volatility or who wish to counter financial uncertainties turn to only one portfolio item that is gold.
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