3 Reasons Not To Own Gold Right Now
Gold is often looked at as a safe-haven asset. When Wall Street starts to crater, investors jump into gold in an attempt to limit the pain. Today, in the middle of a global pandemic, the metal's role in investing would seem to be more important than ever -- but there are some very mixed signals out there. Before you decide to buy gold today, consider these three issues.
Using SPDR Gold Shares (NYSEMKT: GLD), an exchange traded fund (ETF) that owns physical gold, as a proxy, gold has rallied by roughly 33% since hitting a low in roughly mid-March. Gold miners, which are generally tied to the price of the precious metal, have advanced even more than that. VanEck Vectors Gold Miners ETF (NYSEMKT: GDX) has roughly doubled over that span. VanEck Vectors Junior Gold Miners ETF (NYSEMKT: GDXJ), which tracks smaller miners, is up 140%.
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Source Fool.com
