Gold on the Rise

Posted By: Dr. Frugal in Currency on 09/29/2007 at 06:44:22

The price of gold is continuing to climb, largely as a byproduct of the weakening dollar. According to Yahoo News, "[t]he dollar hit a record low against major currencies and gold reached a 27-year high on Friday as investors ignored data suggesting that inflation moderated last month."

I don't really see this as too big of a deal--maybe I'm just biased because I personally don't have any personal funds invested in gold but $753.80/o (the new high since 1980) has never struck me as a place where I would want to put my money. Sure, it's a solid investment but I've always thought of gold as an absolute last resort for investing--I would almost rather have my "investment" in a basic checking account with the very, very low yield gold has offered until recently. That's just me though.

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