Buy Gold And Keep?

[lotte.world 0]

I wouldn't use gold as a form of investment unless I'm high net worth. But the precious metal is a good form of hedge against inflation. If the 700b bailout goes through, the stock market would have some short term relief but in the long term, the dollar will be battered. The USD is the trading currency for gold so you do the sums. Venezuela and Iran are just 2 very smart OPEC to stop accepting the USD. Other diplomatic ones like UAE would redump the USD back to buy up the foreclosures.

For Singapore's case, MAS should be reliable enough to have a balanced basket of currencies so the SGD should be safe. But we can never be too sure. I wouldn't want to be in the situation of the Weimar Republic just before the Third Reich take over.

Having said that, I would NEVER buy paper gold. Only physical gold and it's not too difficult to store. It can be easily bought from UOB HQ or any branches (if you can wait) or even Mustafa. Storage of gold can be done at Cisco safe deposits. There's no way the value of gold will drop after seeing/touching/caressing/licking if it is just pure bullion or bar. Value of that particular piece of gold will drop if it had been slabbed and graded by professional agencies as perfect strikes or otherwise.

One last advise for all who are keen to own the precious metal, pay GST for all you gold, silver, platinium, palladium etc ...

the bailout is crap, it will only add tax to the lower end and keeping the rich richer the poor poorer. its a bad move. USD will soon be close to Zero last year was a big lesson to all. and for all we knows thats only the starting. it will be best to go with gold. SGD might look safe but due to the Monopoly game which we are into , all funny paper will lose its value once a blow from US come to light. They are printing more and more money with they can now only rise tax and etc to cover up the funny money. and they need more debt to float the thru. once bank stop borrowing. that is it. all the funny money will be down to zero