A Penny Saved

For as long as any of us will be able to remember Gold has been touted as the safest of the safe investments.  Everybody wants Gold.  The price of Gold doesn’t directly depend on the GNP of an particular country like the dollar does.  It’s a rare metal without investment tarnish.

Now, with the ongoing international problems in the Middle East and the rising cost of oil, Gold has enjoyed a returned luster as an excellent investment vehicle.

Gold futures for December delivery rose $13.10, or 2.1 percent, to $634.80 an ounce at 11:13 a.m. on the Comex division of the New York Mercantile Exchange. A close at that price would mark the biggest percentage gain since July 19.

It doesn’t look like the Middle East is going to calm down anytime soon, so should we be buying up the gold?  With gold at $634.80 an ounce, is it smart?  It’s up nearly $200 an ounce since this time last year and could go up some, but where is the peak?  Historically, I don’t believe gold has ever really had a crash.  It would seem to have mainained it’s value at the least.  Anyone have any better knowledge on the subject that they would care to share in the comments?

We covered Goldmoney.com, a website that lets you buy fractions of ounces of gold in a form of a savings account earlier this year in our post “Make your Money Golden“.

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