Wednesday, 17 April 2013

Gold price plummeting?

I hope nobody followed the "advice" seen in many Facebook advertisements to invest in gold?

You don't invest in gold when it's at an all-time high. You buy when things are cheap, you SELL when things are at the highest price in the history of the world, as they were a few months ago.

Now the price has dropped and people are panic-selling your "investment" will be a disastrous one.
"The price of gold has had a remarkable run in recent years, hitting a record high of $1,800."
"David Govett, head of precious metals at Marex Spectron in London, said there was a mass flight out of gold: 'We have seen massive liquidation from all quarters... This is a market that has only got one thing on its mind... get me out.'"
Image c/o BBC

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