Quote:
Originally Posted by petegz28
I've never bought into that theory at all. First of all most people don't buy gold, they buy gold stocks. Secondly it's a brief hedge that fails to last. So unless you are good at timing you might as well buy the stocks that are down and benefit in the long run. If you want to trade gold then trade it. Otherwise the "you should always have 10% in gold" is a bunk philosophy in my opinion.
Finally, say you do buy physical gold. Take that to any retail store and let me know of they take it instead of $'s.
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If you don't get it, I can't help you. There are plenty of alternatives to the stock market. The last week is the 4th largest drop in the market's history. Anyone buying stocks right now isn't seeing the bigger picture.