Steve Rand
General Manager / Sr. Precious Metals Advisor
Steve Rand is the General Manager and a Sr. Precious Metals Advisor at Scottsdale Bullion & Coin. He brings over 20 years of experience in the physical precious metals markets.
Michelle Ellis
Precious Metals Manager / IRA Liaison
Michelle Ellis is the IRA Liaison and manager at Scottsdale Bullion & Coin. She has over 8 years of experience helping investors set up or rollover their IRAs into physical gold and silver.
It’s that time of year again. The deadline for making your 2024 IRA contributions is fast approaching. This is a prime opportunity to maximize your retirement savings while reducing your taxable income.
In this week’s The Gold Spot, Scottsdale Bullion & Coin Sr. Precious Metals Advisor Steve Rand and IRA Liaison Michelle Ellis discuss why savvy investors are turning to gold, key details about the 2024 IRA contribution deadline, and how you can make your precious metals IRA contribution seamlessly (regardless of your current retirement plan).
Why Buy Gold Now?
Even after a strong rally in 2024, gold prices continue to climb in 2025. Investors remain drawn to the precious metal for several compelling reasons:
Stock Market Volatility
Many had placed their bets on the S&P 500 and NASDAQ—America’s favored investment vehicles—maintaining their upward momentum after last year’s gains. However, these indices have faltered under the weight of widespread economic uncertainty. Year-to-date, both are down; S&P 500 -2.22% and the NASDAQ -6.28% (as of market close on Thursday March 6, 2025).
Crypto Crash
With President Trump viewed as the first crypto-friendly president, Bitcoin surged past $100,000, lifting other cryptocurrencies in its wake. However, the rally was short-lived. Bitcoin quickly tumbled to around $80,000, while other digital assets saw more violent declines.
Geopolitical Uncertainty
Just as peace—one of Trump’s key agenda points—seemed within reach in the Middle East and Eastern Europe, tensions reignited. The Gaza ceasefire remains in limbo, while Ukrainian officials warn that the end of the war is still “far, far away.”
Fort Knox Audit
Elon Musk’s Department of Government Efficiency (DOGE) is planning a full-scale audit of Fort Knox, supposedly home to the world’s largest stash of gold bullion. Even a minor discrepancy in the amount of gold there could cause significant market rifts.
Gold Price Reevaluation
Scott Bessent, the Treasury secretary, recently considered reevaluating gold from its long-standing $42.22/oz pricing. Experts estimate this could generate a windfall of roughly $750 billion in profits. While the likelihood has been downplayed, the mere possibility is enough to stir investor interest.
“You name it. Gold and silver are looking very attractive to a lot of people who are looking for certainty.”
Steve Rand
General Manager / Sr. Precious Metals Advisor
Transfer or Rollover to an IRA
No matter what type of retirement plan you have, the IRA specialists at Scottsdale Bullion & Coin make the process of moving to a precious metals IRA, backed by physical gold and silver, smooth, hassle-free, and fully tax-compliant.
IRA Transfer
Transferring funds from your current IRA to a precious metals IRA is straightforward and headache-free. You’ll only need to work with us. We’ll send you a document of approval to sign, and we’ll handle the rest.
Employer-Sponsored Rollover
A 401(k) to gold IRA rollover involves an extra step since your account is employer-managed, but there’s no additional effort required on your end. We’ll contact your employer, determine the necessary documents and approvals, and handle the entire process for you.
People aren’t just invested in IRAs and 401(k)s, which is why we help clients shift from an array of retirement plans, including 403(b), Thrift Savings Plan (TSP), and 457 accounts. Simply let us know your current retirement plan structure, and we’ll help you find the most financially sound path forward to opening a precious metals IRA.
2024 IRA Contribution Limits & Deadline
The IRA contribution limits for the 2024 tax year are $7,000 if you’re under 50 and $8,000 if you’re 50 and older. The deadline for contributing to your precious metals IRA is April 15, 2025. Keep in mind that this limit applies even if you’ve filed for an extension for any reason.
2024 IRA Contribution
Countdown
Don’t Miss Out on This Opportunity
Making your 2024 IRA contributions isn’t just a chance to diversify your portfolio and reduce taxable income; it’s also an opportunity to secure physical gold and silver at favorable prices. Experts remain bullish on gold and silver, with strong price forecasts for 2025. Contributing to your IRA now could lead to higher returns in the long run.
We’re trying to get IRAs before gold goes up more.–
Free Resources
- 2025 Retirement Plan Changes – Stay informed on key updates for the upcoming year to avoid penalties and take full advantage of new opportunities.
- How a Gold IRA Works (Video) – A detailed guide explaining everything you need to know about investing in a Gold IRA and maximizing its benefits.
- Rookie Mistakes Guide – A valuable resource to help investors avoid common pitfalls when entering the precious metals market.
- Trump: Bad for Gold? – An in-depth report analyzing how the current administration’s policies could influence gold’s future performance.
Question or Comments?
If you have any questions about today’s topics or want to see us discuss something specific in a future The Gold Spot episode, please add them here.
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