Saturday, October 17, 2009

It went up

On 15th October 2009, the price of precious metal like gold and silver went up high as the market saw the weakening of US dollar. I was tempted to sell the gold I invested and pay up my business loan. If I sell it at the price at that time, I would have made some profit which is definitely much more than the meager bank interests collected if the same amount were to be deposited in the fixed deposit for less than a year. However, knowing that the price will go down a little the next day due to profit taking (which it did), I decided not to sell it. If you are looking for long term profit, then it is best to invest in gold or silver.

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