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Why buy and hold gold?

*Dow Theory Letters, by Richard Russell, September 14, 2011

”The dollar has been firm, and the euro has been very weak.  That’s a negative situation for gold.  Yet, some how, mysteriously, despite the cat-calls of gold-haters, December gold has held above the 1800 level.  There are a lot of reasons why people buy and hold gold, not all of them based on chart action.

Some people hold gold as a hedge against all-out inflation.  Others hold gold as a defense against a Fed that appears to have lost its monetary compass.

Still others hold gold as a symbol of eternal wealth.  After all, during the last 5,000 years just about every other entity from wagon wheels to GM has gone broke.  Other items come and go, but only gold is eternal.  There never was a time when a population as a whole scorned gold (except for the US following WWII).”

*This information is solely an excerpt of a third-party publication and is incomplete. Please subscribe to the referenced publication for the full article. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.

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