what is happening with gold and silver? just sit tight or sell? I also have some pladium, what should I do with that. Thanks, Jim Here.
2007-09-27 07:45:53 · 5 answers · asked by stars 2 in Business & Finance ➔ Investing
if you do not need the cash--SIT TIGHT. You could be in for some very pleasant surprise in the near future as the uncertain world situation, especially in the Middle East in turmoil, makes the prices of "specie"--that is hard assets--metal, not paper, goes WAY WAY UP. In times of uncertainty, there is a "flight to quality" by investors who do not trust paper based assets--stocks, bonds, even cash. Gold has always been a great safe store of value, and silver and palladium will also be in great demand if paper money is not trusted or becomes worthless.
2007-09-27 07:53:08 · answer #1 · answered by Mike 7 · 0⤊ 0⤋
These are part now of your total net worth so i suggest that you get some financial advice as to the best way that these can help you get to your financial goals. If you have debt at a high rate of interest then it makes it more likely that selling is the right way to go, if not and you can afford to have them as a de-facto investment then is precious metals a suitable vehicle for you?
For some people the right thing would be to sell, for others hold and for others sell some. We can't tell you what is right, only a qualified financial advisor can help you make that decision for yourself.
2007-09-27 08:12:49 · answer #2 · answered by Anonymous · 0⤊ 0⤋
gold will always be worth something, while a paper dollar will always trend towards its intrinsic value, which is ZERO.
i have a bunch of krugerrands myself, and i think they are the best bullion coins manufactured. i would suggest you even buy some more every so often as "wealth insurance", and you will be able to buy them in the inevitable dips in price.
silver may be a better value right now, but it has different things going for it, namely industrial uses.
i'd also hold on to your palladium, but you might just want to keep up with news on its use in automobile production and Russia's control of the palladium market...
2007-09-28 12:54:04 · answer #3 · answered by smekkleysa 6 · 0⤊ 0⤋
If your option is to sell them for U S dollars, you might be wise to hold on to the hard assets instead. The dollar is a basket case.
2007-09-27 08:01:52 · answer #4 · answered by Anonymous · 0⤊ 0⤋
HOLD YOU DONT NEED THE MONEY PRECIOUS METALS ARE JUST THAT .THEY WILL ALWAYS BE WORTH MORE LATER
2007-09-27 13:14:22 · answer #5 · answered by Daniel S 1 · 0⤊ 0⤋