I remember the elders saying that during the war, gold is more valuable than money. They must have experienced this realisation during the Japanese occupation in which they traded their pieces of jewelery for food or release.
These days, precious metals such as gold and silver can be used as hedges against both inflation and economic downturn. Investing in bullion is a much better bet than keeping cash due to the latter's fluctuating currency exchange rates. Silver coins have become more popular as collectibles as they are more affordable. As collectibles, they are far higher in value than their actual bullion value.
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Which is better, gold or silver?ReplyDelete
How about property?
Gold and silver are good ways to preserve value. They are not "investments" in the sense that they do not grow like a business. Rather, they are ways to hold onto money already made and protect it from the foolish monetary policies of various countries.ReplyDelete
Property in today's world is problematic and varies greatly from place to place. Certainly in the USA today it is not a good place to put one's savings.
KS, hope Pandabonium has provided the answer to your question.ReplyDelete
PandaB, thanks for sharing your wisdom. The other day I read an article advocating that it's more cost-effective to rent a property than to buy one though I think it's not easy for people to adopt this radical thinking. Owning one's own place seems to be ingrained into the common psyche.