The Dow has right now (October 9/2008) closed under 8,600 points which is a 5 year low and it makes me seriously wonder whether now is the time to buy gold. Even gold has come down in this market so far but that has to stop at some point. The current price of gold should start to rise sometime soon one would think.
Buying gold stocks is one of the easiest ways to get the benefit of "buying" gold without actually physically buying it. No one wants to run down to their local coin shop and start buying gold coins. All you have to do is pick a good gold stock an dyou will pretty much have the same investment.
In this stock market panic of 2008, people are obviously bailing out on stocks. That also has to end at some point but it still could be awhile before that happens. Buying gold in the meantime might be a good investment strategy as the value of gold has to start going back up real soon. When panic is in the air, and it certainly is now, you want to have as much of your assets in things that are stable. Gold has shown over the years that it is a stable investment and it is only a matter of time until there is a flow toward buying gold.
Will there be a gold panic and a rush to by gold in light of the turmoil in stocks? Probably not but the worse things get in the stock market the more likely it is that the demand for gold will rise. When that rush toward gold happens you want to make sure you have some of your assets in gold to profit from it.
IS IT TIME TO INVEST IN GOLD?
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment