Gold was up a fraction for the week to $1,984, with silver down 1% to $25.09. Platinum was off 2% to $979, and palladium was down 4% to $1,308.
Since a year ago today, gold is up 16%, silver is 35% higher, platinum is up 11%, with palladium being the outlier, down 35%.
Today we will begin discussing 10 reasons you should invest in gold.
1). For starters, gold is a proven store of value. That is, it has a nearly perpetual shelf life. Not even sovereign currencies can claim that.
2). Secondly, gold acts as a hedge against inflated paper currencies. You can certainly store paper currencies; perhaps everyone should have some cash on hand. Unfortunately, the purchasing power of cash tends to decrease over time, whereas gold tends to preserve purchasing power.
3). Gold is also highly liquid and can be converted into most local currencies anywhere in the world.
Gold is useful for trading in any economic or geopolitical environment.
4). Gold is a portable, tangible asset. It is not dependent upon electricity or computer servers and cannot be hacked like electronic assets.
5). Gold has no counter-party risk. What good is it owning a 10% bond when the borrower cannot afford to pay? Gold always pays.