What do you think about gold as an investment? I know a lot of people are doing it... wonder if it's to protect their assets or as an investment opportunity?
I've always thought gold and silver was a great idea. It's fairly stable. Actually, if it's down right now it would be a good idea to invest. Last time I thought about doing it, a year later it skyrocketed to being worthy triple what it was when I had the initial thought. Unfortunately, I didn't invest
I think when you buy gold, it's for the stability and speculation of the rise in its price. I think having a portion of your portfolio in gold is a good protection strategy. Historically there are plenty of examples of gold performing well.
It's not down right now, it's over $900. Unfortunately we panicked and sold after the scare of 911 and it was a really stupid mistake. It was about $315 then.
Yes, it seems safe enough. I agree about the portfolio and I suppose it's a good idea even though it's now three times more expensive than when we sold. Some mistakes haunt ya forever I guess.
With the economy as it is right now, the people that are doing it are most likely protecting their assets. In my opinion, it's a good idea to do if you can afford the time and money involved with "investing" in it. I mean, either way you look at it, it's an investment.
That's the way I look at it, yes. If the economy crashes even worse, gold should hold its value. If it *doesn't* I'm afraid there are going to be much worse things to worry about. I think a lot of people are losing trust in banks and that's really scary.
Right now, gold is extremely expensive. Moreover, I feel that the quality of gold is no good these days. I got a bangle a few months back, and it is already bent. Perhaps purchasing gold when it is cheap is a great idea, provided you want to sell it when the price goes up. Personally, I prefer real estate to gold as investment.
Unfortunately, real estate isn't doing so great right now. Gold tends to go up in price when people are feeling insecure about the economy. It may not be the best time.
Sorry to hear about the bangle, woodpecker. I was talking about gold buillon and coins for investment, though. There are various degrees of purity and it's bought in bars certified by a refiner.
While it goes up in bad economic times, it rarely goes down, so what is bought now will still be holding its value even if the economy suddenly gets stable again.
I spent a few years working in a pawn shop and dealt with gold. Here is an a little bit of insider advice for you. Go to your local pawnshop, talk to the person who handles the jewelry and tell them you're interested in buying scrap. Broken rings and bracelets, that sort of thing, that is plainly stamped with the carat rating on it. Dicker about price, based on grams. You'll be surprised at how much gold you can sock away for relatively little money.
That sounds like a very good idea. And yes, gold is very expensive now... $969 as I speak. We freaked after 9-11 and sold for about $350. What a stupid mistake but a valuable lesson learned. Platinum, by the way, is up $90... from $1000 just a few weeks ago, to $1090 today.
I don’t think that gold wouldn’t be good investment since it is hot on the bad guys. Knowledge is a better investment because it cannot be stolen and it can always get you good amount of money when you are using it.
Comparing gold to real estate as an investment reminds me of some horrible stories. For example, before and during WW II there were people fleeing their countries who could transport their gold but left their property behind. I know that's a situation that none of us want to see again. Also I've heard that there's currently much more interest in gold coins and bars than in stock in gold companies. People seem to want what they can hold and carry with them.
This is so right... can't take a house with ya... but I don't think people are thinking about having to carry it with them somewhere... or at least *I* wasn't until you mentioned this.. gee, thanks, Taggart! But it's just because gold doesn't lose it's value as far as I know. Platinum today is $105 higher an ounce than just a few weeks ago. I don't know what *people* think of the so called "stimulus" package but the markets are screaming that it was a huge mistake the way it looks. Wonder how often they're wrong?
Gold is a good investment, which is why you see ads enticing really stupid people to bring in their gold jewelry. It's only good if you own it. I moved some of my investment money into previous metals when gas spiked this past summer, and it stemmed the bleeding as other stocks dropped. Real Estate is still a good deal as long as you aren't buying a home outside of Arizona. If you buy some parcels of land that you aren't forced to build on within a certain amount of time, you still come out ahead, but you have to wait a few years to see your return.
I see online ads for this all the time and constantly get spammed with it, too... send us your unused gold jewelry and we'll send you CASH! People need to take a moment to realize it's worth a LOT more if they keep it and sell it privately if the situation becomes dire.
Indeed! And if you have a gold ring or necklace right now that's just lying around gathering dust in your jewelry box, I'll give you twenty bucks in CASH to take it off your hands. The lure of cash has caused many a downfall.
