Articles
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The Best Reasons to Own Gold NOW
By moneymorning.com
Whether you own gold or have been sitting on the sidelines, you must be wondering whether now is the time to buy more or to finally get in the game.
The answer is one of refreshing clarity in these uncertain times.
1. Gold prices are now at or below production costs.
With gold falling to its current levels, we are very near gold production costs ($1,000 - $1,100 an ounce) for many mining companies around the world.
You can now buy gold at or near the price it would cost a mining company to get it out of the ground. Buy now and you buy right.And don’t be afraid of further price dips. Here’s the likely scenario: Any further falls in prices will cause miners to cease production and/or stop opening new mines.
Supply will have a harder time keeping up with demand. Prices will rise and you will sell right. Buy low, sell high and protect your portfolio from rapid fluctuation in the market value for your securities.
Your overall nest egg will be healthier by including gold, because you can wait out the market uncertainty in your stock and bond holdings.
2. You can buy more ounces of gold for your money now.
The dollar is stronger. So you get more ounces of gold for your money. The printing of U.S. currency by the government has devalued our dollar and will continue to do so.
When, as now, there is a small window of strength in the dollar we want to take this rare opportunity to buy gold. Now is that time.Don’t expect that U.S. dollar strength to last long.
Since 1913, the dollar has lost 96 percent of its value to buy goods and services. Now more than ever, it is critical for everyone to own gold. We have passed beyond the slippery slope of currency debasement.
It is not a question of if, but rather when the dollar becomes the latest addition to the fiat currency graveyard.
3. Gold is now, as always, a core asset that is essential in a political, economic or personal crisis.
Gold has millennia of history as a tangible asset negotiable as payment for your everyday needs, when cash and paper investments fail you.
Look at the pathetic decline of the purchasing power of the dollar. We need to own an asset that maintains our buying power, now.
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