Listen to me, now is not the time to buy gold. Now is the time to sell if you feel so inclined. Gold is at its highest value on record and you don't buy high. The time to buy was 5 years ago. Keep your money.
And don't take my word for it. Dave Neiwart has a post up at C&L touching on this as well.
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"When people buy into the fear and flock into one thing, it's only a matter of time before it turns," said Matt Zeman, a metals trader at Chicago-based LaSalle Futures Group. Indeed, since last week's high of $1,218, gold had dropped Tuesday to $1,143, Zeman noted, adding: "I think the wheels could really come off the gold bandwagon."
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The only "gold" you should be buying right now is Goldman-Sachs Preferred. Serious. Yeah, I know they suck as far as good corporate citizens go, but they always come up smelling like a rose and always pay dividends. Might as well take advantage of it.
But always, before you invest in anything, do extensive research and don't buy anything from anyone who solicits you. Remember, if it sounds too good to be true, it probably is.
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