FYInance

Posts Tagged ‘gold’

We talked about investing in gold a little before and how valuable gold is so I think it would be fun to ask some of our audience what they would do if they had a gold bar. Of course, not everyone is interested in investing in gold or anything at all so the answers we get are interesting. We share the answers with you below.

If you have a gold bar today (a real gold bar) what would you do?

“If I had a bar of real gold I would first sell it because the price of gold is historically very high. With the money I receive from selling of the gold, I would put it into a savings account with the highest interest rate I can find, and leave it there, adding to the account, until I have enough to buy a nice piece of property.”

Interesting, this reader wants to invest in a property and would prefer to sell the gold. We already touched on the fact that you need to have emergency money before you think about long term investing. Gold is more of a long term investment than a short term so if you need emergency money or need to buy a home, gold investing may not be for you at the moment.

Do you want to share with us what you want to do with a gold bar?

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Some people don’t like to invest in stocks or bonds but they like to invest in precious metals such as gold. Why is gold valuable?

Reasons why gold is valuable

1. Gold is the most ideal medium of exchange that retains its value.
2. Gold can be traded like any other forms of valuables even when money is not accepted.
3. Gold is malleable, ductile and can be easily measured and divided.
4. The qualify of gold is consistent.
5. Gold does not rust, tarnish or corrode
6. Gold is quite indestructible
7. Gold is attractive
8. Gold is recognized and accepted by almost everyone

So, in this market, maybe investing in gold is a good idea… any thought anyone?