I’ve been checking on the price of gold regularly since I first bought this commodity from Public Bank’s Gold Investment Account. When I first bought in, it was at around RM88 per gram. Today, the price of gold has surpassed RM100 per gram. I’m told that gold investments go in the opposite direction of the stock market. It certainly looks like it since the equity market has dropped close to the 1,100 support point today even though Bursa was pretty much suspended the whole of today.
Anyway, back to gold…what I’m hearing from friends who are analysts is that by year 2010, the price of gold is expected to be at around RM300 per gram. That being the case, it’s not such a bad idea entering the market now, is it? But then again, who knows what the market really holds when you put your money in the commodities market.
What I would like to do is to regularly buy gold so as to average out my cost and then wait it out for a year or two. How about you? Would you go into gold now?
