Saturday, May 19, 2012

Gold Standard for Your IRA: Little Bit Goes a Long Way


Gold
by Richard Satran

Gold bugs have ruled the money world for more than a decade as their favorite investment topped every other asset category since 2000.

But 2012 has been tough for precious metals enthusiasts, especially those who crammed them into retirement accounts as a "safe-haven" during times of crisis.

In the past four months, gold has fallen sharply, and while it was only the second such sustained drop in a stellar decade, the last downturn came during the market collapse of 2008.

This year it’s the euro zone crisis that’s making gold less precious, providing a fresh lesson for those who seek the comfort of the so-called hard currency in times of strife.

“There is a generation that viewed gold as a safe haven,” said Diane Pearson, a money manager for Legend. "It was true 20 or 30 years ago but it’s a different environment now.”


No comments:

Post a Comment

Thank you for your comment.