Good idea to invest in gold?

[Fangblade1]

All Ords Gold Index (XGD) is up by 9%, and the Market Vectors Gold Miners index (GDX) is up by 12%.
Many stocks have fared much better. Northern Star (NST) is up by 28%, Troy (TRY) is up by 16%, and Beadell (BDR) is up by 20%.

In general is gold a good investment? Looking at history, no one has became a billionaire investing in gold (top 100 billionaires) so what do you guy's think?

 

[noirua]

 

[Value Collector]

Looking at history, no one has became a billionaire investing in gold (top 100 billionaires) so what do you guy's think?

The reason for that is, to become a Billionaire you would have had to grow your assets.

However gold doesn’t grow, eg if you buy an ounce of gold today, in 20 years it’s still just going to be an ounce of gold, it doesn’t grow larger, it’s doesn’t multiply itself, and it’s doesn’t throw off income you can use to buy more gold.

So to get a Billion dollars of gold over the next 20 years you are going to have to own some other assets that can throw off enough income that you can buy that Billion dollars of gold, and if you have assets throwing of that sort of cash, you are going to be famous for owning those assets, not the gold you buy.

think of gold as something you might buy to defend your wealth, not to create wealth.

 

[grah33]

its hit weekly resistance...
what do yas think? good time to go in?

 

[noirua]

Strategic View: Gold Could see $25,000 in 10 years

Following precious metals, gold, silver, political and liberty news. Unbiased and unfiltered.

goldsilverliberty.blogspot.com

The two rallies in gold were over 10-year periods. Both saw big increases in the value of gold. From 1971 to 1980, gold rose from $35 per ounce to over $700 per ounce, going up 20 times.