Is Investing In Gold & Silver A Smart Idea?
@Krizz420canada (531)
Canada
October 21, 2010 6:26pm CST
I can remember back when I was in high school in the 90's and the price of gold and silver where so low. I think at point the price of a ounce of gold here in Canada was a low as $220 ounce! Crazy considering if you look at prices these days which sometimes hit $1200 or high for a ounce of gold now. Even silver prices are rising bring them up to around $23 or maybe higher for a ounce. I have read reports and many theories that eventually paper money will be worthless and everything will go back to gold and silver coins and so on. My question is with the prices rising like it is doesn't everyone think its a good idea to maybe invest and get some and put it away? Or is it just me?
11 responses
@Devilova (5392)
• Indonesia
25 Oct 10
In my country, there are an IM who promote an ebook about how to invest on gold with a little investment but have a big chance to get great result in the future.
But I'm not so interested with that kind of investment.Cause it's need big money to put on it.Better to start a business like shelling cell moola with an MLM scheme.
@Krizz420canada (531)
• Canada
22 Oct 10
Your right gold and silver is guaranteed unlike paper money. Every time the government puts new bills into circulation it brings down the actual value of paper money. That's why I figured it might be a good idea to start collection some now.
@Krizz420canada (531)
• Canada
25 Oct 10
That is very true. You have to know when to buy and when its a good time to sell. I got a few ounces of each put away so far for a rainy day!lol Thanks for answering
@lifeafterdeath09 (2043)
• United States
22 Oct 10
in my opinion i thing investing in gold and silver is not all that great of an idea because the price of that usually looses its value.. also it would be much more difficult to pay for things with gold and silver
@Krizz420canada (531)
• Canada
22 Oct 10
Actually its not really all that hard to exchange gold or silver for cash and many people will take it as a form of payment especially these days for some reason. I was like many of you guys up till a year ago until the economy started losing money and that value of a dollar was dropping. I figure its a good way to keep some money at home without banks charging you outrageous fee's to hold your money. As you can tell I have no faith in the banking systems or the the paper currency!lol Thanks for commenting
@jothimani (184)
• India
22 Oct 10
Ya absolutely Investing Gold is good way to future. Most of the people like to invest in Gold. in my opinion Its not a smart one but safe one. Whenever you want money you can exchange very easily.
@Krizz420canada (531)
• Canada
22 Oct 10
Yes very true it can be changed very easily and just about everyone in the world will accept gold as payment! Thanks for commenting
@fannitia (2167)
• Bulgaria
22 Oct 10
I'm not a financial expert but I work in news so I read every day the news agencies. This year the prices of the gold really go up all the time. The theory of the golden coins seems strange to me but the idea of investing in gold is good. If you buy a few ounces of gold and put it away you'll have something really precious for the future.
@Krizz420canada (531)
• Canada
22 Oct 10
That's is exactly what I'm saying to! Can't hurt to put a few ounces away to see what happens because you never know it might skyrocket in the future but it could drop as well. Thanks for the comment
@DertyJ (192)
• United States
22 Oct 10
I was seriously looking into investing in gold and/or silver. I researched it for quite a while and almost bought some. But then I was told by multiple people how they have gotten screwed by buying gold and/or silver. So I chose not to buy it. I have heard stories where people have lost close to 1000 dollars so that dissuaded me from buying gold or silver. From my online research it looked like the value of gold was only going to go up but in the past it looks up and down so I am going to skip gold and silver as investments. If I get them as gifts I didn't pay anything for them so I would probably sell them when it looks like the price is high but I will probably not invest in them.
@Krizz420canada (531)
• Canada
22 Oct 10
To each his own but I totally understand where your coming from but if your serious in investing in gold and silver you can easily go to one of your local banks and request to buy some gold bars or coins and they can set you up. This is by far the safest way to buy. I get my silver and gold from the local bank. You go in and place your order for how many bars you want, they write down your name and number and call you when it arrives. Then you pay for it at the price it was the day you ordered it. Thanks for the comments
@pogi253 (1596)
• Philippines
22 Oct 10
I like Gold better than silver. Gold is a popular asset to invest in and has grown in popularity within the past several years. Many people have started to invest in gold because of the falling US Dollars and they are wanting to hedge their risks with gold. Gold is tangible, it is real and you can hold it. This is a real object that has value. It is not just a sheet of paper saying you own a stock in a company. It is true tangible asset.
@chayapathys (2111)
• India
22 Oct 10
Yes it is a good idea to invest in gold and silver which has been a traditional hoarding system anywhere in the world.You may not get immediate returns like share trading but it very safe investment.Investment in real estate is also good. In ancient times particularly in India they used store all gold ornaments and silver wear in big pots and bury them deep in the earth.They used say that those pots moved from place to place.I do not know how far it is true.All said and done there is nothing equal to investment in silver and gold...
@toniganzon (72281)
• Philippines
22 Oct 10
I have always believed that investing in gold is always practical. My mom kept a lot of her jewelries at home and it was her hobby to collect jewelries. Too bad the robbers just stole them away. But when it comes to silver, it's not a good investment in my country. It doesn't have as much value as gold.
@Krizz420canada (531)
• Canada
22 Oct 10
I see your point of view but in reality gold and silver is our oldest forms of currency so it is not really all the hard to believe that we might go back to this form in the near future. Thanks for the comment
