Follow the Author – RobinHoodMoney
A question I am often asked since i can’t keep my mouth shut about Gold is: “Is Gold really one of the best investments?”
Here is what i have to say, Investing in Gold is one the safest, and best long term growing plans.
Like anything else in this world, gold prices have gone up and have always been on the rise. Not too long ago, I ran into a person who was an avid gold buyer/investor.
This person told me; from year 1994 when he was just 23-years-old he started to buy an ounce of pure 24 K gold bar every week, and has been a regular buyer of gold since. He goes on to tell me that prices have gone up and down but he is yet to lose money in gold over all, despite the fact of buying gold at its highest recorded price ever of $1880 dollar per ounce. So, I quickly did some calculation in my head and figured that it’s almost 25-years since he’s been buying gold regularly, which adds up to about 294 ounces of 24 K pure gold.
Today price for pure 24k gold bar is about $1338 per ounce, which comes to about $393,372 dollars. Considering that gold price per ounce in 1994 was about average of $405 when the man first started to invest. So, each ounce of 24-K gold purchased in 1994 has gone up nearly 3 times its value. Although gold prices are not as high as they were in 2011 reaching the highest peak point of $1880 an ounce.
He said even when the prices were dropping he still continued investing in gold because if you look at it, he took a loss for maybe 5 years but overall gained on his investment for 20 years. Pure 24 gold will always hold its value, and can be traded for cash at almost bank in the world.
If you were to become a gold investor today, you’d simply need to shop around and start purchasing gold coins or gold bars, depending on your budget.
Let’s say you are a employed or a career person with handsome salary and can afford to spend few extra bucks.
With gold prices expected to double by 2030 and with odds like this you are guaranteed to make profit on your investment. If you were to just invest in 10 ounce of gold at today’s price ($1380 per ounce) and hold on to it until 2030, you are guaranteed to have a substantial amount of gain on your investment.
10 ounce of gold at today’s price will cost you about $13,800 dollars, and if the gold price were to double by 2030 you are looking at about $27600 dollars worth of gold.