Investing In Gold ?
I was interested in the recent price history of Gold… so, I went to WIKI, and looked up GOLD…
http://en.wikipedia.org/wiki/Gold_as_an_investment
As you can see, had you purchased GOLD in 1980, you would have spent $641 per ounce… now, here is the SHOCKER!!!
In 2005, that is 25 years later… all the Gold you purchased for $641 per ounce would be worth $513 per ounce… so, you would have lost money after holding on patiently for 25 years… 25 years… come on people… imagine what that would have done to your retirement savings…
Yes, I know that this is 2008, and Gold is now worth around $1,000 per ounce… but, considering the rule of 7 (doubling investments every seven years), you would not have done very well investing in Gold, since after 28 years, you would not have even doubled your investment…
This investment (going from $641 per ounce in 1980 to $1,000 per ounce in 2008) is LESS than a 1% annual return on your investment…
Yes, I know that there are “other time frames” in which this would not have been the case… where instead you would have made vast sums of money… such as from 2005 - 2008… but, I would be very very wary of such investments.
Mandrake
August 28th, 2008 at 5:18 pm
I don’t know enough about this to comment further.
Grand Terrace Tutor
October 17th, 2008 at 8:23 pm
Thank you for the info.
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