Gold prices have been climbing steadily, reaching a series of record highs as investors have piled in amid uncertainties that could affect other markets. While gold could add shine to your portfolio, advisors caution against going all in.
In September, U.S. investors poured a net $1.91 billion into gold exchange-traded funds (ETFs), according to CFRA data. “It is important to note that while both gold commodity and equity ETFs flows have been negative overall in 2024, we have seen a turn in flows recently,” CFRA said in a recent research report.
Meanwhile, gold bars have been flying off the virtual shelves at Costco Wholesale (COST) since last year. The company said gold and silver bullion was one of its top digital sales categories for the quarter that ended on Sept. 1.
Gold is traditionally seen as a hedgeor a safe haven asset when investors worry about stocks. And this year, so far, has offered a number …