re: 630 short it hard 580 here we come
I bought a lot of gold at end of 2004 and I notice now that I have made a 50% gain on its price. So over about 18 months this is about 33% a year. I bought the gold because I could see the US dollar getting weaker and now even though the US dollar is getting stronger my gold investment looks very good. How many managed investment funds have done better than 33% a year? Not many I reckon.
So in the last month or so I bought another load of gold at about A$812 per ounce and I notice that even with the big ups and downs in the US gold market I have made a gain of about 9%
So I reckon gold is a great thing to buy and I wonder why none of the financial newspaper articles ever seem to say good things about gold - maybe they don't want the fund managers to look bad!
I pay about $70 per year to have my gold stored in a vault and insured but this seems only a small price to pay considering the big gains I have made.
So I think buying gold and holding on to it is a really good thing and if I don't worry too much about the price jumping around the it's a good secure investment.
