Where do you keep your Savings?

[NomiCA]

Re: Where do you keep your Savings?

@queer

have you bought any gold? or know anyone who buys gold as an investment?

afaik, when you buy gold, you pay upwards of 2% premium over market rate, and when you sell, you get paid anywhere from 60-80% of market rate. sounds like you lose 22% of your principal right away.

gold is at record high prices, and everyone and their grandma is recommending buying gold. sounds a lot like houses and 5 yrs ago.

gold is great as an insurance policy against a lot of things, but calling it an investment is equivalent to gambling if you ask me.

I agree…

someone was saying on TV…that…now that gold is very high…it is going to go down…so it won’t be protecting your wealth that much…