Gold Investing
August 27th, 2008
We have talked a bit about gold but never actually talked about gold investing yet. Gold is a commodity and if you think inflation is a major problem you may want to invest in gold or other commodities. Silver is another popular commodity.
We are going to interview one person who said that he wants to invest in gold but his circumstances do not allow such investment. So, we ask him for fun, what he would do if he had a bar of gold. He said:
“If I had a bar of pure gold, the first thing I would do would be to evaluate the market and see if I could determine whether it would likely increase or decrease in value in the next few weeks. I would then sell the bar when I thought I could get the best price. I would not look back to see if the price increased after I had sold it. Once I had the money for the gold, I would pay down my debts with half of the money, put one fourth into savings and use one fourth for travel, taking my mother to England.”
So, this reader has the right general idea of gold investing and how prices fluctuate. However, gold investing is not a short term type of investing so timing is not right for him. Anyone has any ideas?
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