To Buy or not to buy? That is the gold question.
Posted in the Investing Forum
Since: Apr 11
#1 Apr 26, 2011
I see the mainstream media have taken a superficial look at the gold market and consulted their typically wrong "expert" - apparently they think that's it for the gold price and it's too late to buy. Oh really. They said that last year and I bought in anyway because I listen to real experts who explain the role of gold during crisis and as the ultimate money. Let's face it if you had a handful of dollars or Euros or the equivalent weight in gold which is worth more now? I bought gold at $1320 an ounce last year and it's now $1500. If I'd have kept this as dollars I'd lost nearly 6% of the value and with inflation rising be able to buy less now than last year cause evrything costs so much more. As it is I've made a significant profit which can still rise and this would buy me exactly the same goods as last year plus some extra goodies, thus beating the effects of inflation and then some.
So who do I believe - a no brainer really. I keep away from the traditional & incestuous corporate rhetoric and predictions as they're usually trying to make all the bucks for themselves. Dig deeper and it's amazing what you can find. I'm sticking with buying gold because it works, it's not a paper promise, you can't print more of it when you feel like and whatever the price people will always want to buy it.
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