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A Gold IRA is a special type of Individual Retirement Account that allows you to hold physical gold, and sometimes other precious metals, as an investment.
In Depth
Unlike traditional IRAs that invest in stocks, bonds, and mutual funds, a Gold IRA lets you diversify your retirement savings with tangible assets like gold, silver, platinum, or palladium. These metals must meet specific IRS fineness standards and be stored in an approved depository. It offers the same tax advantages as a regular IRA, but with the added benefit of holding a physical commodity.
Example
Sarah decided to open a Gold IRA to diversify her retirement portfolio and protect against inflation.