Economy
What Type of Precious Metals Can You Hold in a Gold IRA Account?
Gold has been used as a form of currency for centuries. It is an incredibly valuable metal and is often seen as a sign of wealth and prosperity.
In recent years, it has also become popular to hold gold in a retirement account – known as a Gold IRA Account. There are many different types of precious metals that can be held in a Gold IRA, but in this article, we will focus on four of the most popular: gold, silver, platinum, and palladium.
Each of these metals has unique properties that make it beneficial to hold in a retirement account. Let’s take a closer look at each one!
Gold
Gold has always been seen as a valuable metal, and for good reason. It is rare, durable, and has a long history of being used as currency. Gold is also non-corrosive, meaning it doesn’t rust or tarnish over time. This makes it a great choice for investors who want to hold onto their investment for the long term.
Gold can be bought in a variety of forms, including coins, bars, and rounds. Gold is the most popular precious metal to hold in a gold IRA company and is incredibly valuable. It is often seen as a sign of wealth and prosperity. Gold is also known for its durability, which makes it an ideal metal to hold in a retirement account. Gold is often used as a hedge against inflation. Ever since the U.S. government stopped minting gold coins, the price of gold has been on the rise.
Silver
Silver has a bit of a different history than gold. It has been used as currency, jewellery, and other decorative items for centuries. Silver is also a valuable metal, but it is not quite as rare as gold. This makes it a more affordable option for investors who want to hold precious metals in their retirement account. Silver can also be bought in coins, bars, and rounds.
In addition, silver is known for its industrial applications. It is used in a variety of industries, including electronics, solar energy, and water filtration. This makes it a good option for investors who are looking for exposure to different sectors. Silver is another popular precious metal to hold in a part of gold IRA – silver IRA, as it keeps its value during economic downturns. Keep in mind, however, that silver is more volatile than gold, so it may not be the best choice if you’re looking for stability in your retirement savings.
Platinum
Platinum is a very valuable precious metal and is often used in jewellery and other high-end products. Its history is a bit different from gold and silver, as it was only discovered in the 18th century. Platinum is rarer than gold, but not quite as rare as silver. This makes it a good option for investors who want to hold a precious metal that is less common than gold.
Platinum is kept in the same forms as gold and silver – coins, bars, and rounds. Platinum is also known for its industrial uses, as well as its value as a precious metal. It is often used as a hedge against inflation and economic downturns. Give it a try and protect your retirement savings from inflation and economic downturns by holding platinum in a platinum IRA.
Palladium
What is interesting about palladium is that it is not as well known as the other precious metals. Palladium is a white metal that is often used in jewellery and other high-end products. It is also used in a variety of industrial applications. Palladium is rarer than gold, silver, and platinum, making it a good choice for investors who want to hold a less common metal. Palladium can be bought in the same forms as gold and silver – coins, bars, and rounds.
When it comes to precious metals, palladium is often seen as a good option for investors who are looking for growth potential. This is because palladium is not as well known or understood as other metals, so it has more room to grow in value. Palladium is still a very valuable precious metal. It is also known for its industrial uses, as well as its value as a precious metal. Palladium is often used as a hedge against inflation and economic downturns.
There are a number of different precious metals that can be held in a Gold IRA account. These metals include gold, silver, platinum, and palladium. Each metal has its own unique history and characteristics. When it comes to investing in precious metals, it is important to understand the benefits and risks associated with each option.
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By Adedapo Adesanya
Binance, the world’s largest crypto and blockchain infrastructure provider, has been granted a Digital Asset Service Provider (DASP) registration to operate in France.
The green light was given by Autorité des marchés financiers (AMF), which regulates the French financial markets, with the approval of the Autorité de Contrôle Prudentiel et de Résolution (ACPR), the authority responsible for supervising the banking and insurance sectors in France, especially AML Regulations.
The landmark achievement for Binance represents its first DASP registration in the European Union and demonstrates its commitment to being a compliance-first exchange.
The registration allows Binance France SAS to operate as a DASP in France and provides regulatory protection for local users with regard to the implementation of French AML/CFT and customer identification requirements.
This came just after the platform received licenses to be a crypto service provider in Dubai, the United Arab Emirates and Bahrain, a key milestone for the world’s largest digital-asset exchange as it set up the stage for a major push in the Middle East.
According to Binance, compliance and regulation are critical to the development and maturation of the crypto and blockchain industry.
Mr Changpeng Zhao (CZ), founder and CEO of Binance, said: “Effective regulation is essential for the mainstream adoption of cryptocurrency. The French DASP and AML/CFT regulations put in place stringent anti-money laundering and fit and proper requirements to meet the high standards necessary to be regulated in France.”
“We are grateful to the AMF and ACPR who both demonstrated a commitment to innovation that made it possible for Binance to navigate the entire application process. Since day one, Binance has always put its users first, and now the crypto community can have even further confidence in Binance France as a trusted DASP registered in France,” he added.
Mr David Princay, CEO of Binance France added, “The registration of Binance France as a DASP is a key milestone for crypto in Europe. In particular, the new levels of protection for AML will help grow crypto adoption in France and Europe. Greater adoption will help bring better liquidity to the market which will be welcomed by users and the community in particular.”
Following the registration, Binance will significantly expand its operations and intends to recruit more people focused on cryptocurrency and blockchain infrastructure development.
By Aduragbemi Omiyale
The immediate past chairman of Seplat Energy Plc, Mr Ambrosie Bryant Chukwueloka (ABC) Orjiako, has assured that the company will continue to sustain a high level of corporate governance.
Speaking last Thursday at the closing gong ceremony to honour him and introduce his successor, Mr Basil Omiyi, to the market, the energy expert applauded the Nigerian Exchange (NGX) Limited for insisting on transparent and accountable corporate governance for issuers on its platform.
According to him, this has been critical to the company’s growth, assuring that this trend would be maintained in the interest of the firm’s stakeholders.
“The high level of corporate governance promoted by NGX for its listed companies was a key attribute that motivated Seplat Energy Plc to become part of the market.
“Since our acceptance into the market, Seplat Energy Plc has continued to deliver a corporate governance structure that is accountable and transparent to our investors, employees, government and all other relevant stakeholders.
“We are committed to sustaining these high levels of corporate governance through our collaboration with NGX as we implement market-leading measures towards ensuring Nigeria achieves a sustainable energy sector,” he said.
Corroborating him, Mr Omiyi, said, “NGX has played an instrumental role in Seplat Energy Plc’s growth within the domestic and international markets. Our history with the exchange dates back to 2014 when the shares of Seplat Energy Plc were listed in the market and over the years, Seplat has benefitted immensely from its collaboration with NGX.
“As we celebrate another milestone on the Trading Floor of the Exchange, we look forward to strengthening our partnership with NGX for the fulfilment of our joint goal of leveraging capital to empower sustainable initiatives that positively impact our investors, employees, and the environment.”
The chairman of NGX, Mr A.B. Mahmoud, in his address, congratulated Mr Orjiako for his exemplary leadership and outstanding performance of Seplat Energy for well over a decade, during which the company was listed on both NGX and the London Stock Exchange.
“The notable acquisition of eight oil and gas assets, expansion of the Oben and development of the ANOH gas plants under his leadership positioned the company as the largest indigenous domestic supplier of gas,” Mr Mahmoud, who was represented by a director on the bourse, Mr Kamarudeen Oladosu, he noted.
On his part, the CEO of NGX, Mr Temi Popoola, said, “The exchange is better positioned to lead government advocacy efforts for listed companies, promote technology advancement and digital innovation for the capital market, and increase retail investor participation in the capital market aimed at building a market for the future and addressing the prevailing challenge of financial inclusion.
“We welcome Seplat Energy Plc to a renewed NGX and look forward to deepening our collaboration to develop and push for disruptive, out of the box ideas that could support Nigeria’s energy transition into a net-zero economy.”
By Dipo Olowookere
For the first time in two years, the Monetary Policy Rate (MPR) has been raised by the Central Bank of Nigeria (CBN) to 13.0 per cent from 11.5 per cent.
Mr Godwin Emefiele, the Governor of the CBN, who announced this development on Tuesday in Abuja, explained that the decision to increase the benchmark interest rate was taken at the Monetary Policy Committee (MPC) meeting held yesterday and today.
While addressing financial reporters this afternoon, Mr Emefiele said members of the committee were unanimous with the decision to hike the rates as it was the best thing to do after holding them for about two years.
According to the central bank chief, one of the reasons for raising the rate is to control liquidity ahead of the 2023 general elections as politicians would be expected to flood the system with cash in a bid to woo voters.
However, the other parameters were left unchanged by members at the gathering as the Asymmetric corridor remained around the MPR at +100/-700bps, the Cash Reserve Ratio (CRR) at 27.5 per cent and the Liquidity Ratio (LR) at 30.0 per cent.
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