Gold tops $1000 per ounce
Feb.20, 2009 in
Precious Metals
The shiny yellow metal we all know and love is sitting at $1,004 per ounce right now. That’s a whole lot of money for an ounce of this precious metal. Normally when gold is high, that indicates fear of the dollar and other investments. Sounds about right for today’s world – the dollar is a question mark with the government’s policies of late… stocks are a black hole. Starting a business is even dangerous right now. Where to put your money? Apparently lots of folks are answering simply, Gold. Do you own any gold?
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February 22nd, 2009 at 8:20 pm
Since gold is so expensive now, I wonder if it will fall hard once the economy recovers. Right now, I am sitting on cash instead of gold because of that fear.
February 23rd, 2009 at 4:57 pm
I’m not actively buying gold right now. I think we’ll see a drop soon, though I remain bullish long-term. We just haven’t ever seen sustained $1k+ gold prices. Eventually I think we will… just not quite yet.
As for when things recover, it’s hard to say. We might see a big drop.. but then again people might be more cautious and hang on to some of the shiny metal stuff. I know I’ll always have room for some in my portfolio, regardless of how everything turns out.