Gold price jumps on Middle East turmoil. What to know before investing
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Although gold is generally viewed as a safe-haven investment during turbulent times, it's important to know what you're investing in before jumping in.
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In this article GLD Follow your favorite stocks CREATE FREE ACCOUNT Frame Studio | Moment | Getty Images With the Middle East war rattling global markets, gold is once again drawing attention as a potential safe-haven investment. The precious metal is generally viewed as a diversifier and store of value in turbulent times. However, it's important to know what you're investing in, and why, before jumping in. "Gold may be one of the ways to invest against the geopolitical shock, but certainly there are others," such as global energy and defense stocks , said certified financial planner Barry Glassman, founder and president of Glassman Wealth Services in Vienna, Virginia, and a member of the CNBC Financial Advisor Council . "It'll be interesting to see which parts of portfolios hold up during this volatility." Gold prices have been on a runup Gold's price has jumped in recent days due to the escalating conflict in the Middle East sparked by the joint U.S.-Israeli military strikes on Iran , which were met with retaliatory attacks on Israel and other U.S. allies around the Gulf region. The price for a troy ounce of gold shot above $5,400 overnight before settling back in the $5,300 range by Monday afternoon. More from Financial Advisor Playbook: Here's a look at other stories affecting the financial advisor business. Student loan forgiveness is taxable again. How to plan for a five-figure IRS bill Trump accounts have 'more unanswered questions than answered,' expert says Home sellers start getting lower prices at 70, research shows — here's why Bigger SALT cap may 'drive higher refunds,' tax expert says — who benefits Trump accounts could grow to $50,000 or more, president says. Advisors weigh in Housing affordability isn't just hurting buyers: More homeowners are falling behind In an affordability crunch, Gen Z adults lean on their parents for financial help Penalty-free withdrawals from 401 s can now pay for long-term care insurance Tax changes Social Security benefici...
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