If you are in the habit of reading extensively about the economy you will have, inevitably, read about gold. This week gold hit record highs and is approaching $1300 per ounce. Discussions of gold (and silver) have hit the mainstream media as governments and individuals get on the gold bandwagon seeing it as a hedge against inflation or a safe haven in the event of currency failure.
Survivalists believe that when TSHTF gold and silver bullion will be necessary for survival. They base their decision to buy gold on the fact that, historically, gold and silver have had value. Websites like Goldseek and Jim Sinclair provide a constant stream of articles and analysis on gold and silver.
Gold and silver bullion are easy to buy at coin and pawn shops, via the internet or at mints like Northwest Territorial Mint. Likewise, it’s easy to take your bullion to a coin shop and sell it for cash. But bullion is a hassle to store and protect and many people gravitate to funds like the Canadian Central Fund (CEF) or gold mining stocks.
Like any other subject the information about gold is often confusing and contradictory. Some predict it will go to $5000. Others believe it’s just another bubble. Clearly, gold is in the news and worth some study as it could be useful in a transition situation.