Three Big Benefits of Buying Gold Bullion in 2024

Gold has been a coveted asset for centuries. And in today’s uncertain economic climate, gold continues to hold its allure as a safe haven investment. 

With the world facing several financial and geopolitical challenges, the appeal of buying gold bullion should remain strong throughout 2024 and beyond. 

In this article, we will explore the three biggest benefits of buying gold bullion in 2024. Will also focus on the most popular gold coins and gold bullion bars to purchase. And show you how to cut-costs and maximize your precious metal investment. 

Additionally, we’ll discuss the three primary reasons why the demand for physical gold is expected to increase in the coming year.

Your also discover:

• Why you should only buy popular gold bullion (or silver) items that have lower premiums
•  How to beat the pricing of the six largest online precious metals discounters
• How to protect yourself from “10 Common Gold Bullion Scams” in 2024

To fast track your gold bullion purchase call the Certified Gold Exchange at 800-300-0715 today. 

Why Investors Are Buying Gold Bullion in 2024

1. Preservation of Wealth

One of the most compelling reasons to invest in gold bullion in 2024 is its historical role as a long term store of value. Throughout centuries of economic fluctuations, wars, and crises, physical gold has retained its purchasing power. Unlike fiat currencies that are subject to inflation and devaluation over time, gold and silver have been a long term store of value. And they’re not reliant on the stability of any government or financial institution to determine their value.

2. Portfolio Diversification

Diversification is a fundamental principle of sound investing. And gold coins can be a valuable component of a diversified investment portfolio. In 2024, with the ongoing economic uncertainty and market volatility, adding gold and silver can help spread risk and reduce the impact of market downturns.

Gold’s low correlation with traditional asset classes like stock and bonds and mutual funds means that it often moves independently of these markets. When equities or other investments face challenges, physical gold can serve as a hedge, helping to protect your overall investment portfolio.

3. Potential for Capital Appreciation

While gold and silver are primarily considered a wealth preservation asset, they also offer the potential for capital appreciation. For example, between 1970 and 1980 the gold price increased from $35 to $850 an ounce. The silver spot price increased from $1.40 to nearly $50 an ounce. In 2024, several factors could drive the demand for gold and silver higher, potentially leading to price increases.

The Three Biggest Reasons for Potential Gold Bullion Price Increases in 2024

1. Inflation Concerns

Inflation has been a prominent topic in recent years, and in 2024, it remains a significant concern for many investors. The unprecedented money printing by central banks to combat the economic fallout from COVID-19 has raised fears of the dollar losing even more value. Inflation erodes the purchasing power of fiat currencies, making gold and silver an attractive option to preserve wealth in times of price increases across the board.

As investors seek hard assets that can maintain their value in inflationary environments, the demand for gold and silver is expected to increase. Historically, physical gold and silver have performed well during periods of high inflation. An investment in precious metals can be ideal for hedging against economic risk.

2. Geopolitical Uncertainty

Global geopolitical tensions and conflicts, whether in Ukraine, the Middle East or China, have the potential to disrupt financial markets and shake investors confidence. In 2024, various geopolitical challenges, regional conflicts, and political instability will persist. In times of uncertainty, investors often turn to safe-haven assets like physical gold and silver to protect their investment portfolios from geopolitical risks.

Gold’s reputation as a long term store of value in times of crisis can lead to increased demand, which can, in turn, drive up the spot price. The uncertainty surrounding international relations and the potential for unexpected events can contribute to gold’s appeal for providing financial security.

3. Central Bank Reserves

Central banks play a crucial role in the physical gold market. In recent years, central banks from various countries have been significantly increasing their precious metal holdings. The trend of central banks diversifying their reserves with gold is expected to continue in 2024. These institutions view gold as a reliable and tangible asset that enhances their monetary stability.

When central banks buy or hold gold, it signals confidence in the metal’s long-term value and can influence market sentiment. As more central banks increase their precious metals reserves, it can bolster demand and potentially drive up prices.

Popular Gold Bullion Coins To Purchase in 2024

• 1. American Gold Eagle: The American Eagle gold coin is among the most popular gold products globally. Produced by the United States Mint, it is available in various sizes and is renowned for its iconic design featuring Lady Liberty and the American eagle.
• 2. Canadian Gold Maple Leaf: The Canadian Gold Maple Leaf, minted by the Royal Canadian Mint, is highly regarded for its pure gold content and intricate Maple leaf design. It is available in various sizes and is a favorite among investors and collectors.
• 3. South African Krugerrand: The South African Krugerrand gold coin is a pioneer in the world of modern gold products. It features the profile of Paul Kruger, a former South African president, and a Springbok antelope. It has been a trusted choice for gold investors for decades.

*Note: The American Eagle and Canadian Maple Leaf gold coins are permitted in a retirement account. The Krugerrand gold coin is not.

Popular Gold Bullion Bars To Purchase in 2024

• 1. PAMP Suisse Gold Bars: PAMP Suisse is known for producing high-quality pure gold bars with unique designs, including the famous Lady Fortuna motif. These gold bars are available in various sizes, making them suitable for different investment needs.
• 2. Credit Suisse Gold Bars: Credit Suisse pure gold bars are recognized for their authenticity and exceptional craftsmanship. They come in various weights and are produced by one of the world’s leading financial institutions and private mints.
• 3. Perth Mint Gold Bars: The Perth Mint, located in Australia, produces a wide range of gold bars. They are highly regarded for their purity and come with a tamper-evident security feature, providing peace of mind to investors. Perth is one of the government mints that create gold bars along with gold coins.

Potential Pitfalls Of Buying Gold Bullion in 2024

If you’re going to buy gold, make sure to avoid:

• Free gold and silver giveaways. These tricky promotions cost investors millions every year.
• Best gold company review sites are almost always paid affiliates and should not be trusted. 
• Most Los Angeles area (national) dealers charge very high buy-sell spreads and should be avoided.
• Gold and silver bullion bars are 10 times more likely to be counterfeit than coins.
• Investment grade gold coins, better known as “exclusive” or “premium”

If you buy gold or silver from a gold dealer using the above mentioned tactics you’re going to pay a hefty premium to do so. Typically anywhere from 33% to 55% on the initial purchase. If you were to sell gold back to them, you’ll most likely receive a price well below the going rate of that day.

What if I need to sell gold in 2024?

If you have to sell some or all of your gold coins or silver for that matter in 2024 it’s simple. Selling gold is as easy as calling 800-300-0715 and asking for the CGE gold sale desk. Our gold specialists will provide you a quote and instructions on how to proceed selling some of your precious metals as the best possible price. Visit our sell a gold IRA page to liquidate metals that are held within a self-directed retirement account. 

In Summary

Investors who buy gold in 2024 may realize several significant benefits, including wealth preservation, portfolio diversification, and the potential for capital appreciation. 

Popular gold bullion coins like the American Gold Eagle, Canadian Gold Maple Leaf, and South African Krugerrand, along with well-known gold bullion bars like those from PAMP Suisse, Credit Suisse, and the Perth Mint, provide solid options for investors to access the precious metal.

The three primary reasons that could contribute to an increase in the demand for gold in 2024 include concerns about inflation, ongoing geopolitical uncertainty, and the continued accumulation of precious metals by central banks. These factors, combined with gold’s historical role as a safe haven and store of value, make it a compelling hard asset to consider including in investment portfolios in the coming year. 

It’s always essential to conduct thorough research to make sure you’re working with reputable dealers before making any investment decisions.

Visit our Top 10 Gold Investment Risks to make sure you’re informed about the precious metals markets before making a large purchase.

Now that you understand the benefits of buying gold bullion in 2024, call our precious metals discount specialist at the Certified Gold Exchange by dialing 800-300-0715 today. 

Frequently Asked Questions (FAQs)

How can I buy gold at the spot price?

You can’t. And anyone telling you that you can is misleading you. All gold coins and gold bars carry a premium above the spot price. This is how government mints, private mints and gold dealers make their money.

What is an investment grade gold coin?

Coins minted by government mints are considered investment grade gold. Some private mints also create investment grade gold bars and rounds.

Is a “premium” or “exclusive” gold coin really worth more?

Typically no. The terms “premium” and “exclusive” are generally used by Southern California gold dealers to trick clients into overpaying. If you buy a “premium” gold coin from a dealer and ask them to buy it back the following day, you’ll most likely be down by anywhere from 33% to 65% immediately. This is how much they would charge you over their cost to acquire that gold coin.

Is it better to buy gold coins or gold bars?

It depends on a few things. The first is, how much gold are you going to acquire. If you are going to buy large quantities of gold, gold bars may be better because they have lower premiums. The larger the gold bar you buy the lower premiums you’ll typically pay. Meaning a 100oz gold bar will have a lower premium per ounce than a 1oz gold bar. But a downside with gold bars is that they typically buy back for less than gold coins. Another potential downside is that you give up some liquidity if you have large gold bars rather than smaller gold coins. And as the price of gold increases, the premium on gold coins tends to rise as well. Meaning you’ll generally get a higher buyback with pure gold coins over gold bars.

What is the purity of the Gold American Eagle vs the Canadian Gold Maple Leaf?

An American Gold Eagle coin has a purity of 22 karat. Their gold content is 99.95% pure gold. The Gold Maple Leaf coin is 24 karat pure gold. Meaning their gold content is 99.99% pure.

How do I set up a personal storage account for my gold and silver coins?

To establish a personal storage account with the Delaware Depository, where we maintain an account as well, you simply need to complete a one page application. They’ll have your new account set up within 48 hours. For more information and help establishing a personal storage account, call our gold specialists at 800-300-0715.

Does it make sense to buy gold bars locally?

If you want to buy gold bars in smaller quantities a local coin shop can be great. You can walk in with cash and walk out with gold bars. For larger quantities that your local dealer may not have in stock, you may be better off using an online discount dealer like the Certified Gold Exchange. Call our gold desk and ask for volume discounts at 800-300-0715.

How do I put gold and silver coins in my IRA?

Visit out Gold IRA Rollover page for more information.

What’s better to invest in right now, gold or silver?

It depends on your investment needs. Gold is close to it’s all time high price of just over $2,000. Silver on the other hand has well over 100% upside potential to get back to it’s high of over $50. Gold tends to be more steady and have less volatility. Whereas silver is more volatile but has more upside potential. If you have an outlook of at least a few years silver can potentially do very well. Even though gold should too. But silvers upside can be much more explosive.

Written by Pat Collins and John Halloran