What is gold backed IRA?

This is a form of IRA specifically involving gold and not any other precious metal. Rather than using ordinary currencies such as the US dollar, an individual is allo0wed to do an investment using this precious metal. This is an act that is permitted by the federal regulations since gold is featured in the list of the federal government’s approved precious metals.

There are so many things that make gold-backed IRA more unique if compared with other forms of investment plan. One great thing is that they are self-directed, which means that the account holder is given the freedom to make decisions based on the type of investment selected. These decisions should not be against the legal regulations put in place by the federal government. Investments in gold-backed IRA mean that the account bearer has to be aware of the cost of keeping the gold with a trusted custodian. The custodian charges are always between $100 and $200 dollars annually.

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