Should I Invest in Gold Right Right Now?

gold kruger

Now that the 2009 economy has recovered and then dipped again on May 12, 2009 the question becomes should I invest in Gold?  The hell if I know.  There is so much stupidity, hype, and outright BS in the markets today there’s no telling what today or the next day holds.  I mean there is just no rational decision making anymore.  And this isn’t all that surprising because the so called gurus are just spouting whatever they think sounds good.

Example: A certain money guy keeps trying to call everything and he keeps being wrong.  Occassionally he gets one right, but what gold dart doesn’t stick after awhile.  Bottomline is if gold prices go down significantly, it’s a good buy for no other reason than people LOVE buying gold.  But think about it, if our economy goes down, is gold really all that valuable?  I mean yeah it’s what we use to standardize our currency but we’re not on the gold currency system any more anyway.  Our money isn’t backed up by gold.  That’s laughable.

The value of our money if determined by how much gold we had would be about 7 cents according to a shot in the dark guess of mine.  But really how far off could I be.  I’ve heard that there is about 250 billion dollars of gold in the United States possession so not nearly enough to backup the dollar.  Our currency system is on its on.  This answers the question How much gold does the United States have?  Now do I know that to be a fact – no I do not.  Everything in this blog is on opinion, but we all know not every dollar is backed up by gold – far from it.

Investing in gold in moderation is good, but don’t buy gold at the highest price its been in, well forever.  This goes strictly against the principal of buy low sell high.  You needed to have bought gold lower like when it was at $500.  Now, the price of gold has more than doubled and I dare say the price of gold is inflated currently.  Invest in gold, but be prudent about it.  Do your research first, find the right gold seller and gold prices and then move forward.