But as an investment, its superiority depends on which side of the fence you sit on.
Traditionally, financial experts and those on Wall Street shy away from the precious metal.
"Good luck trying to out-guess a gold market that is purely speculative," some say.
Gold dealers say hogwash.
"If you feel the economy is headed for the pits, then you should assume gold is headed to the heavens," is their counter.
For now, the pro-gold side has the numbers to back its claim. At the start of 2000, an ounce of gold was $282.05. At the beginning of 2007 it was $639.75. And just two months into 2008, gold has reached record highs. On Friday, it closed at a record-high of $973.50.
"Wall Street has to start changing its opinion with the way gold prices are going up," said Michael Kosares, author of "The ABCs of Gold Investing." "I feel there's always a market for gold."
Not to be mistaken with gold stocks or commodities, the purchase of gold coins or bars is seen by those who own them as comforting during a time when the U.S. economy is filled with uncertainty.
The feeling among numismatists is that gold is worldwide tender and is "good as cash." If the U.S. dollar goes sour, you can liquidate your gold regardless.
Read More
No comments:
Post a Comment