METAIRIE, La. (WGNO) — With inflation remaining higher than 3%, many investors are looking for options other than the stock market.
Mike Perkins, the owner of Causeway Coin in Metairie, is seeing that wave.
“On a daily basis, we sell gold,” said Perkins.
Because inflation can negatively affect the value of your investments, people are adding gold to their investment mix.
“A lot of people do sell [gold] because the markets have gone up lately, but we have more buyers than sellers,” Perkins explained.
If you ask Perkins, gold isn’t a bad investment because it’s tangible, meaning it will hold its value.
“What a lot of people don’t realize, an ounce of gold in Metairie, Louisiana, or London, England, or Paris, France, maybe in their currency, it has fair market value anywhere in the world,” said Perkins. “So, they can leave here with 10 ounces of gold, go to Paris, and sell it for French francs or whatever.”
As for the trend itself, the business owner foresees his shop staying busy through next year.
“I don’t see it reversing anytime soon,” Perkins added. “I think it’s going to continue to go up.”
Research shows investing in gold isn’t a bad idea, but it’s recommended to consult with your financial adviser about what’s best for you.
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