– A question I get asked every time the market goes sharply up or sharply down.
umm, no. No you should not, unless you are actually buying physical gold and then storing it in a maximum security facility with armed guards, then no.
Honestly you would be better off buying almond farms in water rich areas. But that would be difficult if you don’t already have millions of dollars.
So I invite you to take a look at Food and Water. I personally find WTR to be more interesting than GLD.
Look into these interesting Tickers before you buy GLD.
WTR | AWK | PBJ | FUD
Honestly, buying a roomful of Nonperishable goods is probably a better investment than buying an investment based on Gold. I can promise you that those same non-perishable foods will cost you more in 3 months than they will cost you today. You could call it a food bank.
I am also getting questions about the market in 2017, Up or Down… My answer is that, it’s going to go up a lot and its going to go down a lot and it will do both of these things at a rapid pace and often. This will be exhausting if you pay attention to it. Then in December of 2017 you will be shocked that your portfolio is up 7% (since the press only covers the downturns).
The only thing that I can see for 2017 that is certain. Food prices will go up, and the demand for water globally will be pushed to a breaking point.
How the Gold Market works:
Fools buy a gold based investment with the hopes that they can sell it to a more foolish person for a higher price. This cycle repeats until the last group of fools realize that what they bought was foolish, then every fool tries to sell their foolish investment and the fools gold market crumbles. The only fools who lose a lot of money are the ones caught at the end of the line.
When this takes place, it makes an amazing opportunity for the original fools to buy the gold based investment and sell it to a new group of fools.