Feb 16, 2015 10:11:00 AM / by Mike Joyce

Some financial commentators on TV have voiced concern about why someone would own gold. These so called experts in the financial field talk about gold being so old school and really has no worth as a currency in today’s market. I have a different opinion, and I base my opinion on the fact that the World’s Central Banks are buying more gold to add to their reserves than in the last 50 years. This tells me that the banking system wants to have gold in their procession, and they are aggressively accumulating it. With all the different wars going on and the financial problems in Europe, gold is still  the commodity to own for financial protection. Statistics are telling us that the Asian markets are still investing in gold in big numbers. Acknowledging the fact that gold prices are extremely volatile, I’m holding my long positions because when the music stops I want to make sure I have a chair.

Topics: Investing

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