The Ira Epstein gold report is a daily commentary on metal prices and geopolitical and economic topics. It was created by a veteran futures trader who began his career as a runner on the CME floor. Now, he runs a division of Linn & Associates and teaches others how to profit from the markets.
Bullish bias of the Ira Epstein gold report
While the Ira Epstein gold report has a bullish bias, it lacks specific trading recommendations. Specifically, the report misses an opportunity to take advantage of the Fed's reversal of course yesterday. The central bank had been planning a four-year rate hike for some time, but the move has had little impact on the stock market. Instead, it has led to a decline in commodity prices and a stronger US Dollar.
Epstein expects a weak trend in gold over the near term, but also sees a short-term bounce. Gold will face resistance in the $1,185 to $1,200 range. He also outlines a downside target of $1,120 an ounce. This report comes ahead of a week filled with important U.S. economic data, including initial jobless claims data and retail sales figures. Also, on Friday, the Michigan sentiment survey is set to come out. In addition, the Federal Open Market Committee will hold a press conference.
Lack of trading recommendations in the Ira Epstein gold report
While the Ira Epstein gold report is biased to the bullish side, it lacks any trading recommendations. Those looking for specific recommendations will want to look elsewhere. The report's lack of trading recommendations is due in part to yesterday's Fed rate hike, which triggered lower commodity prices, a stronger US Dollar, and minimal impact on stock indices.
According to the Ira Epstein gold report, there is a high probability that gold will break below $1,600 in the short term. However, the biggest challenge for the price is the rising U.S. dollar, which is occurring alongside reduced inflation concerns. In addition, gold may benefit from monetary stimulus from the Federal Reserve and Congress. Moreover, China's loose monetary policy could also provide a boost for gold.
Eurozone referendum on July 5th
Epstein predicts that the gold price will continue on an upward trend. He points to the upcoming Eurozone referendum in Greece, which could sway prices higher. While we can't be sure of what the outcome of the vote will do, history has shown that a strong vote in favor of the eurozone will lead to an increase in gold prices.
Augusta Rare-Earth Elements' assistance in a gold IRA
If you have decided to invest in gold and silver in an IRA, you should take advantage of Augusta Rare-Earth Elements' services. This company offers a number of different services for investors. The company's agents can assist you with all of your questions, and they will be able to direct you to the right department.
Augusta Rare-Earth Elements' team will work with you to find the right depository to house your gold and silver. They work with many facilities in the United States, and you can choose from one that suits your needs. They can also arrange for a browse through of the rare-earth elements at a depository, if you're interested.
Frequently Asked Questions
Can you hold precious metals in an IRA?
The answer depends on whether or not the IRA owner is looking to diversify his holdings in gold and silver, or to keep them for safekeeping.
Two options are available for him if diversification is something he desires. He could either purchase physical bars or silver from a seller, or return these items to the dealer at end of the year. But, what if he doesn't want to sell his precious metal investments? In that case, he should continue holding onto them as they would be perfectly suitable for storing within an IRA account.
What are the pros & cons of a Gold IRA?
For those who don't have the ability to access traditional banking services but want to diversify their portfolios, a gold IRA can be a great investment option. You can invest in precious metals like gold, silver, or platinum, without having to pay taxes until the gains are withdrawn.
However, early withdrawals of funds will incur ordinary income tax. These funds are not held in the country so creditors cannot seize them if you default on your loan.
A gold IRA is a great option if you want to own gold but not worry about taxes.
How does an IRA with gold or silver work?
You can invest in precious metals like gold and silver without having to pay taxes. These precious metals are an attractive investment for anyone looking to diversify their portfolios.
You do not have to pay income tax on interest earned from these accounts if you are over 59 1/2. The appreciation of the account's value does not trigger capital gains tax. You have to limit the amount you can deposit into this type account. The minimum amount that you can invest is $10,000. Under 59 1/2 years old, you can't make any investments. Maximum annual contribution: $5,500
Your beneficiaries might not receive the full amount of your account if your death occurs before you retire. Your estate must include enough assets to cover the balance remaining in your account after all other expenses and debts have been paid.
While some banks offer gold and/or silver IRA options to their customers, others require them to open a regular brokerage bank account that allows you to purchase certificates or shares.
What is the best precious-metal to invest?
An investment in gold can yield high returns on its capital. It is also immune to inflation and other risk factors. People become more concerned about inflation and the gold price tends to go up.
It is a smart move to purchase gold futures. These contracts will guarantee that you will receive a specific amount of gold at an agreed price.
However, futures on gold aren't for everyone. Some prefer physical gold.
They can trade their gold with other people. They can also make a profit by selling their gold at any time they desire.
Some people would rather not pay tax on their gold. They purchase gold directly from governments to achieve this.
You will need to visit several post offices to complete this process. First convert any gold that is already in circulation into coins or bars.
Then you will need a stamp to attach the coins or bars. Finally, send them off to the US Mint. They melt the bars and coins into new coins.
These new coins and bars are stamped with the original stamps. That means that they're legal tender.
But if you buy gold directly from the US Mint, you won't have to pay taxes.
Which precious metal would you prefer to invest in?
Statistics
- To qualify as IRA allowable precious metals and be accepted by STRATA, the following minimum fineness requirements must be met: Gold must be 99.5% pure, silver must be 99.9% pure, and platinum and palladium must both be 99.95% pure. (stratatrust.com)
- SEP-IRA”Simplified employee pension” For self-employed people like independent contractors, freelancers, and small-business ownersSame tax rules as traditional IRASEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less4. (sltrib.com)
- Same tax rules as traditional IRA SEP IRA contributions in 2022 are limited to 25% of compensation or $66,000, whichever is less Before setting up a Silver IRA, understand the fees and IRS restrictions. (sltrib.com)
- You can only purchase gold bars of at least 99.5% purity. (forbes.com)
External Links
forbes.com
- Gold IRA, Add Some Sparkle to Your Retirement Nest egg
- Understanding China's Evergrande Crisis – Forbes Advisor
kitco.com
en.wikipedia.org
wsj.com
How To
How to Buy Silver With Your IRA
How to get started buying silver with your IRA – Owning physical bullion directly is the best way for you to invest in silver and gold. Silver coins and bars are the most popular form of investment because they offer diversification, liquidity, and convenience.However, many prefer owning physical bullion over paper certificates or electronic currency.
If you want to buy precious metals like gold and silver, several options are available. You can buy them directly from their producers such as refiners and mining companies. If you don't want the hassle of dealing with a producer directly, you can purchase them from a dealer that buys and trades bullion products.
This article will show you how to get started investing in silver using your IRA.
- Investing in Gold & Silver Through Direct Ownership – The first option for purchasing precious metals is to go straight to the source. This means getting the bullion itself and having it delivered right to your door. Some investors store their bullion in their home. Others choose to store their bullion in a safe storage location that is insured and protected. You should ensure that your precious metal is properly stored when you are preserving it. Many storage facilities offer insurance coverage for fire, theft, damage, and other risks. Even with insurance, your investments could be damaged by natural disasters or human error. The safe storage of precious metals at a bank or credit card union is always recommended.
- Buying Precious Metals Online – If you'd rather avoid carrying around heavy boxes of precious metal, then one alternative is to buy bullion online. Bullion dealers can sell bullion in various forms, including bars or coins. You can find coins in many sizes, shapes, or designs. Coins are generally lighter than bars and easier to transport. There are many different sizes and weights available for bars. Some bars are heavy and weigh hundreds of pounds while others only weigh a few grams. You should consider the purpose of the bar before you decide on which one to get. If you plan to use it as a gift, you might want to consider something smaller. If you are looking to add it as a gift, or to proudly display it, you may want to spend a bit more and buy something larger.
- Buying Precious Metal From Dealers – A third option is to buy bullion from a dealer. Most dealers are experts in one part of the market: gold or silver. Some dealers specialize in particular types of bullion like rounds or minted currency. Others may specialize in specific areas. Others specialize in bulk sales. You'll find them all to be competitive in price and offer convenient payment methods.
- Purchase Precious Metals via Retirement Accounts – Although this is technically not an investment, it can be used as a way to increase exposure to precious materials. To qualify for tax benefits under Section 219 of the IRS Code, you must invest in precious metals through a qualified retirement account. These include IRAs as well 403(b), 401(k), and 403 (b) plans. Since these accounts are set up specifically to help you save for retirement, they often offer higher returns than many other investment vehicles. Many of these accounts let you diversify your holdings across multiple types of metals. The drawback? Retirement accounts don't allow everyone to invest. These accounts can only, however, be accessed by those who work for an employer that sponsors them.
