That is a question that has been circulating throughout the news media, blogs, forums and many other places for some time now. Gold closed just below the all time record today at $1244.00 per ounce. With that being said, many of us are now wondering if we have missed the boat and the price is just to high to buy in.
We are in the midst of an economic crisis and many of us are having trouble putting food on the table, struggling trying to keep the lights on and can in no way justify spending thousands of dollars on precious metal investments.
Over the last 10 years gold has increased in price over 4x. I personally bought in at 2006 prices which was roughly $600.00 per oz. There are currently no signs showing that this train is going to stop. With the Euro on shaky ground and economies across the globe struggling with debt I only see gold going even higher. Feel free to do the research yourself as the data does not lie. Again times are tough but sometimes you have to be tougher.
Purchasing power of the US dollar is decreasing everyday.
Personally I setup a budget that allows me to sock away money specifically for the purpose of investing in precious metals. The amount I save every month may not look like a lot in some peoples eyes but it certainly adds up quickly when your dedicated to saving for a purpose.
Make cutbacks on frivolous spending. Try to horde small amounts of cash and start investing asap. Silver which currently is an excellent buy and can be bought for $17-$18 per oz (Current price at the time of this article)and the price is expected to shoot up any day now. Silver is a cheap alternative and is a good place to start investing if the price of gold makes you quiver.
So is it to late to buy gold? I think not, I still believe gold is currently a bargain and you should start investing into precious metals as soon as your finances allow.
-Blogging4Bullion
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