In this climate is gold a good investment?

[ItalianZionist]

I heard gold prices will triple, so I thought of buying some gold bars from goldline.com  (glenn beck endorses them?)....It may be better then money in the bank..It's $970 an ounce.

[~Hanna~]

According to Dave Ramsey, no.

[briann]

It wouldn't hurt to diversify a little in Gold... especially for protecting against the worst case scenario.  But don't put too much in metals... since its extremely risky, its already historically pretty high-priced.... and could plummet very quickly when things seem to clear up a bit in a few years.

By this time next year we will most likely be seeing significant inflation... so that may make everything (including Gold) start looking like its a good investments.... when in reality... its just our currency being worth less.  At this point and time... you will see VERY high interest rates which might allow you to lock in a sweet double digit rate for a very long term. (Like around 79-81)

However.... There is a possibility that we could experience a catastrophic collapse around 2011-2012.  If the Home values keep falling, Foreclosures keep piling up, and our Fed can no longer get away with borrowing/printing since China/Etc will be demanding prohibitively high Interest rates.  In this case, we could see something worse than the 30s.  So I think it makes sense to diversify into commodities and Chinese funds... and ammunition.

[Rubystars]

Gold is a horrible investment. Over time you don't gain on it. You need something more stable.

[ItalianZionist]

Ruby St. this is not true. Look at the graphs:

http://www.usagold.com/gold-price.html

[Rubystars]

You can lose your butt investing in gold if you want to but don't say I didn't warn you.