Gold In Them Thar Hills!
- 1 kilo gold bar
The barrel price of oil has been a hot topic the past few years, but now gold prices are the talk of the financial town. Why? “Investors generally buy gold as a hedge or safe haven against any economic, political, social, or currency-based crises. These crises include investment market declines, inflation, war, and social unrest.” (Source: Wikipedia.org) In case you haven’t noticed, a handful of those crises are occurring in front of our eyes right now.
The flight to gold has increased the demand, which in turn has pushed to price of 1 oz. to over $1,000 as recently as a few days ago. At the end of 2000, gold was less than $300/oz., so you can see the benefit of having a few bars stashed in the closet.
Investing in gold doesn’t mean smuggling a bunch of bars a la Three Kings, however. Investment in gold can still be done through the standard procedure of physically buying gold coins, bars, etc., or putting money into gold investment vehicles, such as derivatives, shares, certificates (like buying stock without having the actual stock certificates in hand), etc.
Bonus info: Gold bars come in many shapes and sizes, but to get an idea of size to cost relation, a bar the size of a Blackberry phone would weigh roughly two pounds and be worth approximately $32,000 based on current values.
Read on:
Wikipedia.org – Gold as an investment
BusinessSpectator.com – Gold rises over $US1,000 on flight to safety
ExpressGoldLtd.com (good info about dimensions & sizes of gold bars)
(thanks to my readers for today’s selection!)
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