Have Gold investors been ruined?

By Matthew Hayward

In today’s USA Today, there is a brief commentary about investing in Gold written by Matt Krantz. He claims that “Gold is an extremely risky asset,” and he hopes investors are ready with a backup plan if Gold crashes. He qualifies the risky asset based on current and past market volatility regarding Gold. He also writes his commentary based on recent investors; though he does not directly say that, he does comment that he is looking at this year’s yield.

If I were to get a chance to speak with Matt, I might ask him how Gold is doing compared to the dollar. I would ask him why he believes Gold investors have lost big time and hopefully had a backup plan. First of all, Gold has dropped nearly $800 in the last year, but that was only after a rise of nearly $1500 an oz. If you invested before July 2010, you are still in the green with your investment.

I was screaming at friends and family to invest in Gold, even to liquidate their retirement and stocks and put it all into Gold when Gold was between $500 and $600 an oz. I was still urging an investment but not so excitingly at $900. I lost confidence in its legitimacy at around $1250 an oz and thought it would be a good time for a partial sell-off. Of course, I was wrong, and Gold continued to rise to over $1900 an oz.

Furthermore, I suggest that Matt is right, assuming there is no coming inflation and another bounce in Gold prices, which I believe there will be; in fact, I am starting to think Gold is getting low enough to invest in again. But, indeed, those who waited for the market to collapse before getting out were ill-informed and misguided, just as those who later bought Gold as a hedge against inflation after it surpassed $1000 an oz. Again, even at $1000 an oz, you would still be ahead, but the more important point is the time to invest was when Gold was $ 350/ $ 400 an oz. Or at least when Gold hit $550, and it was clear the bottom of the market was about to drop.

Will Gold drop back down to $500 or less? Not likely with the actions the FED is taking and the way the market is strained. Will Gold, like Silver, see another spike, without a doubt! Don’t make large investments when they peak; just wait to make smaller purchases. But when Gold and Silver drop 25%, 40%, or 60%, buy like there is no tomorrow; you may have to sit on it for a while, but you not only will make a profit, you will be protected from the effects of currency debasing.

USA TODAY in question

Current Gold/Silver prices

What were they saying seven years ago? All that glitters is not always a golden opportunity

What was Matt saying in 2006?

And Matt in 2007 on Gold

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