Washington, DC (PRWEB) June 10, 2008
Following the passing of the Tax Payer Relief Act in 1997, Individual Retirement Account (IRA) holders are now able to include gold and other precious metals as portfolio holdings. Given the recession proof nature of gold, and its staggering per ounce gains over the last 365 days of more than 30%, CGE reports that many Americans have added gold to their IRA account as a way to achieve proper investment diversification.
Following the adoption of the gold standard by the United States, President Roosevelt banned gold exporting in 1933, and a year later fixed the price of gold at $35 per troy ounce, where it stayed until March 15, 1968. When US banks finally did away with the fixed price of gold in 1968, and gold pricing began to float freely on the open market, the per troy ounce price of gold rose to more than $120 within a five year period. In 1973, the ban was lifted and individuals were allowed to own gold. This move started a new trend in American investing and portfolio diversification, which also led to the inception of gold back IRAs.
Stocks have never recovered to their bullish fervor of the 1990's and the dot com boom. Generally, as stock prices plummet, the price of gold skyrockets, which only proves to stabilize and minimize portfolio risk in an IRA account. Many financial analysts have suggested that gold and silver are the new bull markets, and should be included in any IRA portfolio diversification. Indeed, savvy portfolio managers agree that now could be a most promising point in time for IRA account holders to invest in gold instead of low performing stocks, especially in a retirement fund.
Aside from opening a new gold back IRA account, Americans with an existing IRA can either transfer using an approved company, or roll over a traditional or Roth IRA (401k plan) into a gold back Individual Retirement Account (IRA). Investors should take notice that not all forms of gold are acceptable. Gold bars with 0.995+ fineness are allowed, as long as they are hallmarked by a NYMEX or COMEX approved assayer. Gold coins with 0.9999+ fineness are also permitted, except for 22 karat US Gold Eagle. The South African Krugerrand, a 22 karat bullion coin, is not allowed.
A free IRA Account Report and How To Get Started Guide is available from Certified Gold Exchange (CGE) online at http://www.certifiedgoldexchange.com or by calling toll free 1-800-300-0715.
About Certified Gold Exchange:
Certified Gold Exchange, Inc. (CGE) is an industry leading precious metals trading platform and customers are protected by the CGE PriceMatchPlus® Guarantee. Certified Gold Exchange offers its customer base a team of industry experts who continually conduct relevant analysis and in-depth research. CGE caters to both household and institutional investors; offering immediate, real-time quotes so clients can confidently buy and sell gold, silver and platinum products. For more information, call CGE at 1-800-300-0715.