Gold is not a good investment for the long term. Don't listen to the ads, they spin the truth and basically lie.
Gold closed around $1,380 an ounce yesterday. For one year that is down 13.72%
In 1995 gold was around $480 an ounce. The S&P 500 was at 465, now at 1881. That means gold has increased 287% since then while the AVERAGE stock has increased 404%. Plus many of those stocks paid a dividend of 2% or more over all those years, while gold sits and collects dust.
It's easy to get into the stock market via indexed mutual funds, with little or no expense. With gold, you have to haul it around to dealers who could very well screw you on both the buying and selling end.
No, not a good long-term investment. You will do better in growth stock mutual funds - small, mid, and large cap as well as international funds. If you are really itching for some precious metal, don't put much of your money into it - no more than 10% of your retirement savings. You may want to buy gold coins from both the US and other countries. They have a collector value in addition to their inherent gold value.
I am 23 years old and I am looking for ways to spread around my money. Also, Do I have to buy an entire ounce to invest?
