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.
Comments
No comments yet. Future commenting has been disabled.
Sections
Budget (33)Credit (31)
Currency (22)
Economics (86)
Frugality (74)
Loans (42)
Politics (18)
Saving (37)
Taxes (42)
Related:
Iraqi Dinar as an InvestmentWeakening Dollar