Re: Investing in gold?

Posted by Red Dave on September 10, 2009 at 11:38:09 from (66.216.141.163):

In Reply to: Investing in gold? posted by ~Lenore on September 10, 2009 at 10:50:40:

Lenore, I own a small amount in the form of U.S. Gold Coins. That way purity and weight are guaranteed by the U.S. Mint.

Investing in gold is a dangerous game. I would not invest a significant portion of my money reserves in gold, it is too risky. A small amount is one thing, (and by small I mean 1 or 2% of total investments), but I would never take the chance with more. That is just me, I would not presume to advise you.

But keep in mind that just a few years ago gold was under $300 an ounce, today it is hovering near $1,000 an ounce. That is an all-time high. It may go up, but it could just as easily go back to $300 also.

There are a lot of commercials being run these days urging people to buy gold. In my opinion, those running the commercials are the ones who bought at $300, $400 & $500 and are now looking to cash in.
In my opinion, the money to be made in the gold market has already been made.
In my opinion, buying now would be buying high, selling low.

I could be wrong, I have been before.

Again, I would not presume to advise you, but I would not advise a friend or relative to buy gold now.

• A good place to research the gold market

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