I was advised NOT to buy GOLD when it was $300 an ounce....
Regardless of its volitility, with wars, chicken little economic forcasts, and constant media hype of "all bad news-all of the time", GOLD is a fair investment.
“I was advised NOT to buy GOLD when it was $300 an ounce....”
Yes, there were/are a lot of advocates fiat money (anti-gold) voices here on FR, which is quite sad.
Really? Odd. I would've if I had had the money to.
Now at $450, I probably wouldn't have, and almost certainly not after $700. 20/20 Hindsight.
Hey, I didn't think silver was a bargain at $6.00-$7.00 which was almost double its low from the 90s.
And, no, I won't invest now because I just have to believe that it couldn't get worse. (even if I think it will)
Same here, except that it was even lower when I was told that, and sad to say I took that advice and stuck with mostly equity stocks and a few bond funds.
The spot price for bullion is now at just over $1000. I saw it hit $1036 at one point yesterday, and I was mentally kicking myself in the posterior for not buying at the $650 plus or minus level of just a year or so ago. Gold may still be a good buy even at today's figure if the economy goes into another Jimmy Carter style stagflation period like some pros are predicting, but I don't have access to money that I can afford to put at risk right now without selling equities at a loss. And anyway, my wife is smarter and better at this game than I am and she doesn't like gold. Other than the kind you wear that is.