Should I be banking on gold?

Is gold what's going to save me from going down the tubes?

When times are bad, investors have traditionally sought refuge in gold. With bullion dealers reporting a surge in business, it seems that history is repeating itself. Prices are strong and gold is currently selling at around $930 an ounce. In March 2008, the gold price reached above $1000 for the first time.

Will the price of gold go higher?

Now one investment fund manager is saying, "Sometime this year, perhaps this spring, the gold price will rise as high as $1,600." Could he be right?

Getting started

If you have absolutely no experience in investing in gold, apply for Online Payday Loans and search the internet for some good learning material. Gold is a wide and complicated subject and you should know a lot about it before you jump in and start buying.

The gold rush

One man has converted all his investments into gold. He explains:
"Over thousands of years gold has never reached zero. The price is a risk, but at the end of the day I will still have the same amount of gold. There are people who probably hold bank shares that would have been seen as conservative investments and you could question what they are going to be left with. I can sit at home and track my investment online."

The gold that the man buys is kept in a vault in the bank. Commission fees are typically less than half of a percent, and insurance against theft is also a nominal amount.

Bunker mentality

Investing in gold does smack of bunker mentality but other investors are now following suit and bullion dealers reporting a sudden upswing in business. A British online gold broker in London, which allows clients to buy and sell certified gold held in vaults in London, Zurich and New York, report that they are currently opening an average of three times as many accounts a day compared to 6 months ago. ... click here to read the rest of the article titled "Should I be banking on gold?"