subject: It Is Good To Own Gold [print this page] Gold is the asset that one must go for in these times. Despite the financial crisis in Greece and the rise of the dollar, gold is doing really good on the market.
The additional credit downgrades for Portugal and Spain have pushed the precious metal to gain even more ground. The yellow metal is known to be a hedge against inflation because the price of gold rises as inflation rises. The yellow metal has created such a stir on the market, that now people are trying to come up with new ways of making money in order to invest in it.
Very many banks have began to buy gold, following the example of India who has bought last year 200 tons of the International Monetary Fund's glittering metal. China is another example where gold is bought massively. The Chinese Government has advised the citizens to start investing in the precious metal. Economists believed that China will buy the rest of the International Monetary Fund's gold but the country did nothing. The reality is that China was in fact buying its own gold using its own currency. It is well known that the country has set its goal in surpassing American in the gold reserves sector.
The world's largest gold consumer, India, has also begun to seriously invest in the glittering metal. The Indian Central Bank representatives declared that they are searching to diversify their assets and this is the only reason why they are buying gold.
If the Central Banks are investing so much in the precious metal, than so should we. If you cannot afford to buy gold bars and coins just yet, then you should take into consideration investing in gold by the gram. It is not expensive and it is a good way to protect your savings.
