The Oval Office was redecorated with gold drapes just in time for President Trump’s arrival at the White House Friday. (Breitbart)
"There are wide range of commonly perceived fundamentals that are believed to drive the price of gold.
Many of these fundamentals at best have muted effect on gold, and some are even myths that have no basis in reality.
It is increasingly clear that gold's value is imputed by the market rather than driven by clear fundamental drivers.
This imputation relies heavily on sentiment and how investors are socialized to perceive gold's role as an asset." - Seeking Alpha, November 2016 (Read more...)
"The homeowner told police the 100 gold bars, a diamond ring and $60,000 in cash was her life's savings, which she hid in her house."
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"The short answer is "no" - while not impossible, it is the rare investor who can meet the applicable IRS rules for creating such a structure (discussed below). And if you don't satisfy the IRS rules, transferring your assets to a "home storage" IRA is treated as a distribution, stripping your retirement investment of its tax-deferred status. This means you have to pay income taxes on the current value of your retirement assets as well as a penalty of 10 percent if you are under age 59 1/2. This could mean a tax bite of 35 percent or more of your retirement's value. [...]
If you want to gamble, go to Vegas. Opening a "home storage" precious metals IRA is a lot more risky and a lot less fun." (Law360.com, May 29, 2015)
"Gold prices rose more often on Fed interest-rate hikes than on cuts last 30 years...
Judging from the financial news, consensus says next week's US Fed decision on interest rates has become D-Day for this year's strong gains in the gold price.
But history says otherwise.
Gold has since 1986 been more likely to rise if rates go up than if they stay the same, and by a greater percentage as well." ( BullionVault )
"Advertisements this summer have claimed that people can invest their tax-free retirement accounts in gold and store it at home. But the IRS has issued a stern warning against the move."
"The internet is full of websites promoting “Home Storage” Gold IRAs, “Self Storage” Gold IRAs, “Home Delivery” Gold IRAs, and other enticing captions that lead consumers to believe current law allows them to store gold and silver held in their IRAs at home.
Unfortunately, these claims are not supported by the Internal Revenue Code."
"It’s not the first time Britons have turned to gold — dealers saw buying surge in the initial phases of the subprime crisis at the end of 2008 and during Europe’s debt crisis in 2012 and 2013. But the interest dissipated quickly, the dealers said. This time could be different."