Quote:
Originally Posted by rebel23
gold is always a long term thing, preservation not speculation
2,000 years ago an ounce of gold bought you a toga and a pair of hand crafted shoes at the market, today it will buy you a decent suit in a deptartment store and a pair of shoes, so nothing much has changed
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Gold isn't just preservation in the long term, but also for preservation against currency dips. It is also a way to make relative money in a declining currency market.
If you are an American, and bought gold a few years back, you have managed to insulate yourself from the sinking US dollar. Done correctly, you sell out the gold near it's peak in the next 6 - 8 months, and convert it back to other US dollar value assets. You will have made more US dollars in a few years, and when the US dollar regains it's relative value to other currencies, you will have also gained net REAL value.