Buying Gold a good idea?

is buying or investing in gold a good idea? how many of you did that? i heard that investing in gold is always a safe investment.

 

Gold is always worth something.. thousands of years from now you can buy a house with a pile of gold.

Paper money has always eventally failed, paper is only as good as the people that print it. When they go broke the paper is not good.

 

its a safe investment. It will always hold value. gold does not go bankrupt like so many companies have.....risky person goes in the market/forex....others goto gold

 

dude, DO NOT take gold investment advice off this site. Contact any good independant financial advisor and they will tell you gold is at it highest point in decades. Certainly not the time to buy. Its currently about 950 dollars an ounce, but around 6 years ago it was about 250 dollars an ounce (now that would have been a good time to buy)


As the world eventually drags its ass out of this current slump, shares, bonds, oil etc will all start picking up, and gold forced down.


As I say do not take my word for it (although i suspect i know a great deal more than those telling u "its a safe investment" and "it will always hold value") speak to an independant financail advisor

 

That is rather high.

http://www.kitco.com/charts/livegold.html

Look at the 5 and 10 year charts. Looks like it's been trending up for quite some time.

 

That is rather high.

http://www.kitco.com/charts/livegold.html

Look at the 5 and 10 year charts. Looks like it's been trending up for quite some time.


Correct, and im yet to see ANY chart that trends up and up, and up, and up and up forever. Not a long term viable investment imo, but as I say, thats just my opinion

 

Both are good arguments. Their are two schools of thinking today. The dollar will fail and with it will come skyrocketing inflation. Gold will hold its value in this case and will be the only safe investment for a while to come.

The other way of thinking is the economy will get better, and then the prices of gold will go back down to a reasonable level. However right now gold is at the highest point its ever been. So if you're buying something it to protect yourself from inflation its not a bad idea, but if we pull out of the recession and you could lose up to half of the money you put into it.

Either way gold will always be worth alot, its a precious metal, and over time the prices have always been UP. This might not be the best time to buy but its probably not the worst.

My recommendation is buy silver. Its less than $20 per ounce vs. $900 per ounce with gold. Silver will hold its value in the same way as gold and its much more affordable. Unless you have more than $10,000 There's not much point in buying a bunch of gold right now, and since you're looking for advice on a web forum I'm guessing you don't.

Take my advice, buy silver...Real Silver though that you can hold in your hand. And do some research on your own before you spend a lot of money.

 

The thing is with gold it's low risk, over the last ten years the price of gold has never gone down during a callendar year (Jan - Dec)

Source : http://www.kitco.com/scripts/hist_charts/yearly_graphs.plx

 

If you can invest (if you have capacity to hold it is a worthy investment)

 

Implying that a particular investment will trend up forever is inaccurate. Even some countries that exist now won't be here in a hundred years. Invest wisely in material things, but note that you can't take them with you when you die, wealth is uncertain, and if you're on your way to millionaire status, chances are you'll lose quite a few fortunes quite a few times.

 

I agree.

Don't seek webmaster advice from an investing forum and don't seek investment advice from a webmaster forum.

Tom, CPA in a former life

 

You should only buy gold if US dollar is going down. Because, in my opinion, when $US is going down, gold's value is always going up.

 

Gold has always been said as a hedge against inflation/capital protection.
But USD is still the major force that determine the raise and fall of gold price.

 

As an experienced member of the UK's jewellery quarter for 10 years, I dealt in kilo's of gold on a daily basis. The price changes twice daily and you can really hit or miss. It is very much like the pound or the dollar with its ups and downs but gold has bigger ups and downs than normal currency. Remember, paper money is just an order of the bank to pay the sum of, so it is in effect an I O U.

Gold is worth investing if you are going to buy a big quantity and when the price has come down a lot. I saw several small bullion and scrap gold companies in the jewellery quarter hit rock bottom about 6-7 years ago when the price was just at a really bad price but then big money men came in and bought tons of it and price shot up again.

As zero said, go for silver at the moment, silver is very cheap and does not lose as much value as gold. Definately speak to finiancial boffs as they work on this day in day out.

Good luck with your investment. If you are in the UK, I can give you some ideas of bullion dealers if you want to buy direct.

 

If you are looking for long term investment, gold investment is good, sure the value will gain