to protect from a major $ collapse.or just as an investment?
2007-01-10 16:56:48 · 4 answers · asked by nyslv 1 in Business & Finance ➔ Investing
no, gold and silver are pretty high, and I don't think they'll go higher before they drop in the long term. Also, decide if holding something that is not US currency is a good idea. If the dollar falls apart, will you really be able to buy your groceries with gold bullion? I think not. It's not as much as a hedge against inflation/dollar collapse as you think.
2007-01-10 17:07:11 · answer #1 · answered by Section Eight 2 · 0⤊ 1⤋
I'm a really big fan of gold and it's easy to buy now if the form of the street tracks gold trust shares (GLD) on the NYSE. It's a good proxy for physical gold and has very low management costs for holding the gold. Also like some of the gold and silver stocks. Probably good time to buy, don't think gold will go below $600USD again for the remainder of the gold bull which has many years yet to go before it reaches it peak. I been buying gold & gold stocks when they plunged below their 200 day moving averages and selling some of my holdings when the price gets to far above the 200 day moving average, altough it is much harder to know when to sell as bull markets tend to suprise on the upside. Anyway that strategy has worked well for me over the last 5 years.
Gold historically has always keep its value and purchasing power. You cant say thay for fiat currencies such as the US $$
2007-01-10 17:43:28 · answer #2 · answered by laguh20 1 · 2⤊ 0⤋
Buying Gold Shares, because when gold price rises, shareprices rise faster. Buying for both reasons
2007-01-10 17:05:08 · answer #3 · answered by bob shark 7 · 1⤊ 0⤋
I THINK IT GOOD TO START BUYING GOLD OR SILVER, BUT I THINK IT IS BEST TO START TRADING FOUREX. LEARN HOW http://www.4xgenie.com
2007-01-10 17:34:12 · answer #4 · answered by Gage 1 · 0⤊ 1⤋