Time to invest in “Gold”?
I’ve been seeing lots of articles about the high price of gold recently. There was an article in USA Today stating that people in Afghanistan are having to delay getting married because of the high price of gold. It is a tradition there that the bride wears lots of gold. If there isn’t enough money to buy the bride enough gold then there is no wedding.
I also read an interesting web release from Monex. Here is an excerpt “Remember when gas was only 25-cents a gallon? You could take a dollar down to the gas station and buy four gallons for a buck! At that time our dollar was backed by REAL money, real silver. Guess what? That same amount of silver still buys four gallons of gas! That just shows that real money like gold and silver holds its value and it is the green paper money that is now worth a lot less.” They also state that you should have 10-20% of your investments in precious metals. Since they are a precious metal company that advice isn’t too surprising. However with the rising price of oil and inflation seeming to be on the rise it might be worthwhile to invest a small percentage of your portfolio in gold or other precious metals. This is just my opinion, do some research and make your own decision.