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Gold is negative for the year and has caused some to say it is time to abandon this metal as an investment. After all, isn't gold supposed to rise consistently every year and always rise when equity markets drop?
Since the price of gold has not ratcheted up in this latest Europe driven downturn, some say surely that must mean that the wisdom of owning gold is now null and void.
I disagree; gold should still be a part of your investment plan.
Here are a few thoughts to keep in mind as you consider investing in gold for your portfolio strategy.
1. Recognize that investing in gold is not a guaranteed positive return investment every year; gold can and will lag other asset groups depending on the current environment. This is particularly the case when liquidity becomes a concern in global markets and gold is sold to raise cash. Remember, this asset will rise and fall in value like any other asset; a longer-term time horizon is required when buying this precious metal.
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