Gold isn’t peaking, so don’t be too quick to Cash in
We all know that 2008 has seen a definite rise in demand for gold, specifically, investor demand. This rise didn’t really come as a surprise to anyone, either, as it’s simply what happens when the dollar grows weak.
I overheard somebody talking about selling off his gold today, while it’s high, rather than risk seeing a drop in the near future. So what I will say on the matter is simply: Don’t be too quick to sell off your gold. We’re seeing a rise, but all signs point to this rise continuing into the next few years.
The basic concept of investment is to buy low and sell high, so it might be tempting to say “Hey gold is looking good, guess I’ll cash in!” but just about any analyst you ask is going to say the same thing: This isn’t a peak. Gold is still going up for the time being and into the foreseeable future.
The thing about gold is that you don’t need to worry about what happens in the course of one day, one week, or even one year, unless you really want to. In ten years, twenty years, the gold you have now is most likely going to be worth more than it is today.
With stocks, you need to be on top of the market every single day. You’ve got to always be ready to buy and sell and move your money around at the drop of a hat. I always say gold is more of a laid-back investment in comparison to the stock market. You don’t need to watch the market every minute of the day, you don’t have to buy and sell on a weekly basis, though you can if you want to. You can afford to play the gold game how you see fit.
