streetTRACKS Gold Trust (ETF) (GLD)

savoysavvy (< 20) Submitted: 6/07/08 6:52 PM : Start Price: $88.54 GLD Score: 30.26

The dollar has a long way to fall. GLD is better than a money market from that perspective, unless you pick a money market in a foreign currency... and which one will you pick? The breadbasket of currencies is contually shifting, and it is hard to say where you'll end up in 5 years. Gold is currency agnostic. You put your money there where you're tired of the daily headache.

That said, I'm planning to get out of gold eventually. I bought at $65 so I am not concerned about minor fluctuations. Some people suggest it could top $1500 an ounce, and given new technology that uses gold as a superior, more efficient replacement metal for palladium in catalytic converters... lots of upside.

Report this Post Replies: 0 | Reply | Permalink