Jon Stojan
Image credit: Pexels
In 2024, gold prices reached a considerable level, says Kevin DeMeritt, founder and chairman of precious metals firm Lear Capital, and silver’s performance was also solid.
In the third quarter, the demand for gold, including over-the-counter transactions, was up 5% year over year and totaled more than $100 billion — a new record, according to the World Gold Council; gold prices, which had climbed to new highs multiple times earlier in the year, continued to reach record levels.
Silver was also up that quarter. By the morning of Sept. 11, for instance, the spot price for silver was $30.67 per ounce — and the precious metal’s price had risen more than 28% for the year, according to USA Today. The following month, on Oct. 22, silver reached a 52-week high of $34.87.
“It’s done fairly well,” Kevin DeMeritt says. “We started off the year [with prices in the] low 20s; 15% to 20% returns, I would take those all day long.”
What Draws Investors
While some people who’ve purchased precious metals in recent months were likely influenced by the burgeoning gold prices and growing global need for silver, a quick glance at the Lear Capital reviews that have been shared online shows the individual reasons for obtaining both metals can differ.
Take Frank B., for example. In his Lear Capital review on the Trustpilot platform, he said stability is better than wishful thinking.
“After watching my funds disappear from my other investments, I decided that I would be better off with precious metals than having a portfolio that has had a track record of losses,” Frank wrote. “Now I have peace of mind that, regardless of what happens, I have what I have. If the dollar value drops, I win with precious metals.”
Richard H. also mentioned he was concerned about the U.S. dollar’s strength. When he reached out to Lear Capital, the representative he spoke to from the company sent an informational packet that outlined what the onboarding process involves, he said.
“My wife and I were looking for an investment strategy to help us protect our retirement assets against the impending inflation and devaluing of the dollar,” Richard said in one of the Lear Capital reviews published on Google. “We were pleased with the information we received, and we decided to move our IRA accounts over to invest in gold and silver. The process was very smooth and quick, and we are now precious metal investors.”
Diversification is a goal for a number of investors; with a historical track record of performing well during both robust and challenging economic periods, gold can potentially provide balance if other assets in a portfolio experience losses.
In one of the Lear Capital reviews posted on Trustpilot, Kevin M. said the Lear Capital representatives he spoke with took the time to put a package together that was within his budget.
“I didn’t feel any pressure to purchase, nor [did] they ask about the rest of my portfolio or talk about how much more I should be spending,” he said. “Hands down, [it’s] the best option out there, if you are looking to diversify your portfolio with precious metals.”
Another Lear Capital customer, Mike, was interested in precious metals’ physicality, according to the review he shared on Trustpilot.
“I wanted to buy some 1-oz. silver coins to use for bartering in case some kind of national crisis should occur,” he said. “[The representative] walked me through all my purchase options, answering my questions along the way. It’s always nice to find someone with [that] experience and knowledge to make you feel comfortable when making purchases you know nothing about.”
John O. contacted Lear Capital because his adviser suggested he should add some metals to his portfolio, according to the review he left on Google.
“Lear and [its] team made [the] purchase seamless,” he said.
How You Can Procure Precious Metals
Whatever reason you may have for wanting to obtain gold or silver coins or bars, working with an experienced precious metals provider can be helpful.
Lear Capital regularly provides guidance to help its customers easily move through the steps that are involved in selecting and either receiving physical precious metals directly or holding them in a self-directed IRA.
Additional information about what that entails is available on Lear Capital’s website. You can also reach out to the company at 800-576-9355 to speak with a representative who can answer any questions you may have about precious metal ownership.