Is it time for you to buy Gold?

Gold prices have gone up recently; a lot of people are asking themselves and the experts if they should invest all their portfolios in this highly prized precious metal. Well, the consumer advocate with the nationally syndicated talk show Clark Howard doesn’t think it. “Five to 10 percent of your overall portfolio in gold or other precious metals is acceptable. But no more” he advised it in his today’s show notes.
He goes on to explain that there is fine line in being an investor and being a speculator. Gold is priced now at $1,100 an ounce; this is far from where gold price used to be in the early 2000s. Whoever invested their money during those early years are now reaping the benefits, and they sure look like wealthy geniuses.
Here is the problem with gold now, as most people don’t get in until it’s too late and there’s already huge run up.
It is tempting nowadays given the huge ads that show up in TV commercials, most of them telling you “now is the time to buy gold”, they also emphasize that gold protects you against the inflation or that it will never be worthless. It may be true that Gold will never be worthless, just remember it is still subject to supply and demand laws.
Most of the hype about investing and buying Gold is being driven by brokers and dealers that want to encourage you to buy it now, thus adding momentum to rising price of Gold to try and keep increasing it. After all, Dealers and brokers get commission. You on the other hand, will get a very expensive ticket to the casino that is the commodities market.
Many experts think that now is a great time to sell scrap gold, instead of buying Gold or investing in it why don’t you take advantage of the hype and sell all your scrap jewelry, since this is the latest craze you probably have it somewhere some jewelry that you don’t even use or wear it.
Now it will be good time to recycle your old and unused jewelry and pick couple of hundreds of dollars from something you don’t wear. Interestingly just because gold is risky investment now doesn’t mean you should not pick up some extra money from something you may never wear again.