Quote:
Originally posted by Greg Jacobson
If you put money into gold at this point you are on the wrong side of the trade. Buying gold at these prices is like buying the Nasdaq at 4500.
|
Yes, I agree. Gold is a lousy investment in general. The prices have remained at about $400/ounce for the past two decades. Buying gold now would definitely be the wrong thing to do. Gold is now pushing $450/ounce, and will rise slightly in the wake of rising inflation (as people buy it up as a hedge against inflation), but it will peak soon, and will be on the downslide again back to where it likes to rest at about $400/ounce. Factor in the fee's to buy it, the fee's to sell it back, and you will at very best break even.