Sunday, July 21, 2024

Are gold and silver good investments to get into now?

August 30, 2010 by  
Filed under Silver Investment FAQ

And if they are, how long would you hold on to them for?

Comments

7 Responses to “Are gold and silver good investments to get into now?”
  1. songbird1331 says:

    I doubt it.

  2. C-Mick says:

    I wouldn’t.

    The American dollar will gain international strength soon and this would adversely affect your investment.

  3. Carol O says:

    If you’re talking about the actual metal, then you have some problems:
    1) do you buy it and store it in your garage?
    2) do you buy it through another company which actually retains the metal for you?
    In the first instance, not a good idea unless your garage has a really good vault attached
    In the second instance, there are a LOT of shady companies out there who tell you they’re holding it but they’re really not and you could be left with worthless pieces of paper.

    If you’re talking commodities, where you don’t actually buy it, but buy the right to buy it for a set amount of money in the future, well, good luck. You have to be a very competent futures buyer/seller to know how to play that market.

    The price of precious metals usually go up when the world is in turmoil and goes down when peace returns. Who can say what tomorrow will bring?

    Most people who don’t have a lot of money to throw around or lose, will invest in a low fee mutual fund and take their chances — no huge gains, no huge losses.

    I’d say that if you had to ask the question, you don’t have enough experience to play the precious metal markets. But that’s just my opinion. Good luck, either way.

  4. eaglesonaperch says:

    David, do you see what I mean?, these folks say don’t buy it, which means buy it….the exact opposite of your questions response topic of buy vs rent and their overwhelming responses to BUY real estate!!

    lol, be right and trade 3 or 4 gold ounces for a WHOLE house in a few years-free and clear…the play is precious metals-buy em up on this next little pullback to mid $550’s…its going to $2000 oz.

    housing buy coming of .10 cent on the dollar.

  5. Common Sense says:

    If they go up I would certainly say “yes”. If they go down I’d say no.

  6. marketwizard says:

    You are a day late.

  7. I Quit YA says:

    A lot would depend on your particular investment needs. If you are talking about rolling your retirement nest egg into commodities, absolutely not. Something more on the line of a few hundred dollars to have some tangible assets, by all means purchase some. I personally like the feel of precious metals in hand. The market for gold and silver is not a good place for the small investor to count on a good return short or long term as a matter of fact, more fortunes have been lost than gained when it comes to gold. Silver bullion is my choice for investment right now over gold as I predict (and by all means I’m no expert) a higher percentage of return over the next 6 months or so and the price is relatively low right now.

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