Why we're so in love with gold

The recipient of a gold bracelet might treasure it forever. As an investment, it might even be worth more someday. But buy gold for love, not gain.

 of 8
 of 8

VIDEO ON MSN MONEY

111Comments
Feb 12, 2013 10:53PM
avatar
Articles like this just make me want to buy more.  What a totally irresponsible piece of journalism.  The dollar is dying a quick death.  You keep your paper worthless dollars, I'll keep my gold....we shall see who comes out on top.  BTW...Argentina's currency was just depreciated 46% today.....the U.S. is in worse shape.  How would Americans react if they woke up tomorrow finding out all of their savings was just cut in half?  Still think gold has no value....gold preserves your wealth....not to mention it is getting more scarce, so it will continue to rise in value.
Feb 12, 2013 9:13PM
avatar
I think you need a better fact checker.

"All the gold that's ever been mined, some 175,000 metric tons, could fit into a New York City townhouse."

"India is the world's largest gold consumer and imports 90% or so of its needs, typically around 1 million metric tons."

If all the gold that has ever been mined in 175,000 metric tons, how can India import 1 million metric tons?

Feb 13, 2013 12:37PM
avatar
Owning gold protects you from the irresponsible government we now have. As our debt rises so does the price of gold. Our currency used to be tied to the gold we posessed, not anymore, just print more money.
Feb 13, 2013 12:21AM
avatar

"India is the world's largest gold consumer and imports 90% or so of its needs, typically around 1 million metric tons."

 

1 million metric tons?

 

Shouldn't that be a bazillion tons? If you're going to pull numbers out of your ____, pull really big ones.

 

Feb 12, 2013 9:07PM
avatar
With all the central banks printing gobs of money, gold will be a good hedge against the currency debasement/devaluati​on. With gold and silver, you can keep your purchasing power.
Feb 19, 2013 4:55AM
avatar
Totally irresponsible piece of journalism.
Feb 13, 2013 11:38AM
avatar
Hey is MSNBC writes it it must be true, just like all the positive Oblama chit.
Feb 12, 2013 9:50PM
avatar
As Owebama continues to ruin the economy, gold is the place to be.  I've already made several hundred thou.
Feb 12, 2013 8:08PM
avatar

Perhaps in answer to the question in this, just perhaps many invest in gold because a. they don't trust the stock market now, b. don't trust the speculators and robo-tranders who manipulate the market, c. don't buy the false hope the afore mentioned article about a record on the DOW (after yesterday's drop, and today not all 3 American indicies were in the green incidently) would suggest.  Course, and ironically ol Blaine I guess has it so peeps can't comment on that article.  And finally, perhaps, just perhaps people are still concerned about inflation, ya know that inflation we all feel, but some try to argue away by excluding food and gas from the price increases that are being measured.  In spite of the fact that food price increases, and gasoline price increases are exactly the sort of inflation (and yes price increases on the basics also constitutes a contribution to inflation) is what the average house hold budget feels the pinch on the most...

 

So umm yeah.  We wouldn't want to go putting money into that there stock market, without having our hedge in gold.  Oh well, perhaps tomarrow will be a if the market is up, try to convince people to buy on hope, if it's down, blame Greece, and above all else, try to get people to throw good money after bad in the stocks the speculators (like those gasoline spculators) sneeze at, until they then pull their money and lets blame Greece yet again :D

avatar

You don't "invest" in gold thinking you will one day become rich.  You purchase gold to prevent losing the overall value of what ever it was that you used to purchase it.   It can go up or down from there.  Even if it goes up, you may not be able to repurchase with it the same amount of what it was you used to purchase it in the first place.

 

It only has the value of what someone else is willing to give for it.  Same as any commodity.

 

What is even scarcer now than gold and other precious metals, especially with this President in office, is Lead and Brass.  Even Steel and Poly has gone up double in the past 4 months.  That is where the real money can be made when the reason for buying gold by those frightened of the economy comes to fruitation.

Feb 12, 2013 11:18PM
avatar
one things for sure. all you suckers who bought diamonds saw how worthless they are from the recession. meanwhile, gold has skyrocketed in the past decade!
Feb 13, 2013 12:21AM
avatar
1 million metric tons to India each yr?   I doubt it.  Not 1 mill tons on earth.
Feb 12, 2013 11:42PM
avatar

Although positions were cut the past 18-24 mns to one-third, (1/3) what they were in 2005-2011.

 

Every portfolio needs to consider a little PMs of some kind or another...?

And maybe a few commodities likewise...?

It's what some prudent investors, Would call DIVERSIFICATION..

 

Invest in what you think is correct...And good luck.

avatar

 The Anunnaki ingrained it into our brains to look for gold when they changed our genetic makeup 40,000 years ago.   Why else do people salivate at the sight of it?

avatar
Some readers noted that I had said India consumes 1 million metric tons of gold a year. That's wrong, and I apologize. The total is between 850 tons and 1,000 tons.
Feb 13, 2013 12:30AM
avatar
It has being always this way, when gold goes up and they recommend to buy gold. Gold goes down and then starts to show up articles telling that gold is over. From 2002 to 2013 gold moved from 4250/oz to $1700/oz meanwhile gold production increased 10% and worst, mining companies are not able find enough gold to replace what they are mining.
Feb 16, 2013 1:42PM
avatar
That's easy to figure out.....1.  humans are scum and would slit your throat for nickle....2. and since that's true and humans don't care for each other....other than their selected little groups...which doesn't work....they have to build and aquire material things they like....but it's leaves them lonely in the end.....a dollar bill can't kiss you or hold you....they rather kill each other off.
Feb 19, 2013 10:53AM
avatar

Silver is a much better investment than gold.  Why, because it is severly underpriced vis a vis it's traditional relationship with silver.  Traditionally silver is worth about 20 ounces to 1 gold ounce, the US gov't used to pay 17/1.  Then silver is worth around $30 and Gold approx. $1500.  That's 50/1.  So, if the dollar collapsed and silver went back to 20/1 and Gold went to $3000/ounce, well you can do the math. 

 

Thing is, which would you rather approach your grocer with, given dollars don't buy much someday, an ounce of gold worth $3000 or an ounce of silver worth $150?  One would be much more tradable and manageable than the other.  And that's the thing.  Silver has always been "money" and gold the province of the rich and aristocratic.  Silver is the more valuable metal, Gold is just a big problem for economies and individuals.

Feb 19, 2013 5:36AM
avatar
This guy can keep buying his leather hand bags and simpson cartoon pictures, I'll keep buying silver bullion. Also, I thought Europe is in the midst of a double dip recession.
Feb 19, 2013 8:55AM
avatar

You can go to any country in the world and purchase any item you want with gold/silver. What other monetary instrument can you do that with today? US Dollar? Nope! AMEX/MC/VISA :? Not everywhere. Gold has never been worthless and never will be, it is the wealth saving method prefered by the majority of people in the world today. 

Report
Please help us to maintain a healthy and vibrant community by reporting any illegal or inappropriate behavior. If you believe a message violates theCode of Conductplease use this form to notify the moderators. They will investigate your report and take appropriate action. If necessary, they report all illegal activity to the proper authorities.
Categories
100 character limit
Are you sure you want to delete this comment?

DATA PROVIDERS

Copyright © 2014 Microsoft. All rights reserved.

Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.

MARKET UPDATE

NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.
Market index data delayed by 15 minutes

[BRIEFING.COM] Equity indices closed out the month of August on a modestly higher note. The Russell 2000 (+0.6%) and Nasdaq Composite (+0.5%) finished ahead of the S&P 500 (+0.3%), which extended its August gain to 3.8%. Blue chips lagged with the Dow Jones Industrial Average (+0.1%) spending the bulk of the session in the red.

The final week of August represented one of the quietest stretches for the stock market so far this year. The first four sessions of the week produced the ... More


Currencies

NAMELASTCHANGE% CHANGE
There’s a problem getting this information right now. Please try again later.

RECENT QUOTES

WATCHLIST

Symbol
Last
Change
Shares
Quotes delayed at least 15 min