Investing in precious metals 101

Re: $400 gold?

  • Fri, Apr 10, 2009 - 03:30pm

    #18
    Peak Prosperity Admin

    Peak Prosperity Admin

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    Re: $400 gold?

great first post notdoq.

welcome

i think there is a psychology in investing in gold that needs exploration.

many have bought gold because of the possibility of a collapse of the fiat money system. many have bought it as a hedge against infaltion or hyperinflation. many have bought it because someone told them to.

i think many will hold on to gold for the same reason people have held on to their 401k’s and ira’s. what else are they going to do after they have bought in at 600,700,800, or 900 they will hate to take a loss and will stay with it till it comes back up.

they will do this unless they are forced to sell the gold to pay bills. i think this will support the price of gold over the long haul.

anyone got any other ideas?