Saturday, October 16, 2010

People Still Investing in Peak Price Gold

Employment rate is struggling week after week in the US. People are wary of their buying power in USD. More and more people are investing instead in precious metals like gold bullion, coins, and etc even when its price is already at its peak (to avoid risking their fortune disappearing into thin air). Though I’m pretty much hoping for the USD to regain strength within 6 months time – it’s not like I have so much money in US dollars anyway.

The reason being that at least I’d have some extra purchasing power after converting my cash in USD to Ringgit Malaysia next year. I mean how far lower can the USD go from here? The lowest ever I’ve seen the USD go against RM is RM2.8/2.7 per $1 and that was like around 10-15 years ago during the internet bubble collapse. On the other hand gold kept on climbing and still is.

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