Price of precious metals

[ggonzo]

Do you think the price of silver and gold will go up or down? Is it wise to invest in precious metals?

[Canadian]

The prices of gold and silver should go up, as more and more people realise the mess we are in. Just look at the barage of bad news coming from the banking sector and the economy. Lats week IndyMac Bank failed down in US - http://www.latimes.com/business/la-fi-indymac12-2008jul12,0,6071779.story . The press is constantly talking about the huge problems facing Fannie Mae and Freddie Mac. Oil price is close to $150 per barrel. Inflation is heating-up. The stock market is crashing...

In such times the only thing that can save us from financial trouble is investing in precious metals - a proven store of value for centuries.

[invest]

I somehow agree with you but I think the price of gold has reached all times high. The economy is not in good shape but it will rebound sooner or later.

[trent]

It's always good to have some exposure to precious metals in your investment portfolio. Think of it as insurance against bad times. I don't like the direction of the Canadian economy, and I think we are in for some rough times...