Gold is one of those things that gets plenty of hype and that most investors think they understand well.
Gold, as any other commodity (silver, platinum, palladium, oil, wheat, copper, coffee beans, etc), might be a valuable part of your asset allocation. It is important to recognize, however, that gold is an extremely volatile commodity, and there is frequent chatter and hype surrounding it that easily influences many investors.
People feel like they understand gold: they see valuable gold jewelry everywhere, they know that it once backed most of the world’s currencies. There is a lot more to the picture, of course.
What the everyday investor lacks in understanding, he makes up for in zeal. Financial advisors can attest that while many clients feel unsure and shy when talking about most investments, gold investing is something they are more likely to have have a certain overconfidence about.
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