It is true that there is an ongoing fascination with precious metals in our society. This is particularly true of gold, as the shiny stuff is traded and collected all over the world. Throughout history, gold in particular has shaped certain societies and created a standard for currency. While I recognize the role that gold plays in the world today, it has never been a bit part of my life or my investment strategy. For me, gold is not much of a factor. Therefore, I do not watch gold prices.
Nothing around the house
I am not sure if this is a nationwide thing, but in my area of the country it is not unusual to hear radio ads for gold buyers. This has been particularly true over the last couple of years as gold prices have been quite high. Honestly, I have to chuckle every time I hear some of these advertisements because they often feature people who talk about selling their "old, unwanted gold jewelry" that was lying around the house. Apparently I have been doing life incorrectly because I do not have hundreds or thousands of dollars in gold lying around my house. In fact, there is very little gold at all. I wear one ring, and it is tungsten.
Odd part of society
There are times when I wonder about investing in precious metals like gold, just as a general concept. It is a strange part of being human that we assign value to various substances that may or may not have practical uses. Obviously gold is used in various commercial settings, but most often it is either worn or just owned. I guess that has worked for societies over time, but it is still an odd human behavior. In some situations metals are valuable due to scarcity, but other times society has simply adopted their favorite substances.
Stocks and bonds
For the most part, I am the type of person that invests in stocks, bonds and mutual funds. It isn't like I was raised to avoid precious metals, but it just never became part of my investing strategy. I did collect various types of coins as a kid, but that is not necessarily the same thing. My coin collection is not going to be a major component of my retirement portfolio. Will there ever be a point where precious metals are not part of societal investing? Or will we as people always value things that are shiny?
Do not come to my house if you want to see any gold.
*Note: This was written by a Yahoo! contributor. Do you have a personal finance story that you'd like to share? Sign up with the Yahoo! Contributor Network to start publishing your own finance articles.More from this contributor:
- precious metals