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Should I Buy Gold as an Investment?

Throughout the ages, gold has played a significant role in the economies of quite a few nations. Gold was thought of as a type of universal currency for centuries. Because gold had a value that was recognized all over the world, there was a gold standard that went back as far as 1500 years ago to the Byzantine Empire. In fact, up until the recent past, gold was used as the reserve currency for the entire world. Although gold is no longer used as a primary form of currency, gold can still be a solid long-term investment that can be a valuable asset to your portfolio, especially in today's market. 

Gold has long been hailed

as a solid defense against hard times, and banks all over the world use gold to defend currency values for good reason. Since gold values tend to rise as currency values and interest rates drop, there are many advantages to investing in gold. Recently, gold has been consistently rising, and is expected to continue to rise for the foreseeable future. However, there are analysts who also believe the gold-streak is set to end at some point, which would cause a lot of gold investors to lose money. 

Like any investment, the choice whether or not to invest in gold will depend on the level of risk you're willing to take and how solid your portfolio is. There are advantages and disadvantages to buying gold as an investment, and those must be weighed to determine whether or not gold is the right investment for you. The best advice for determining which investments are right for you is to sit down with a financial advisor and do your research on the gold market, so you can make an informed decision. Still not sure whether you should buy gold as an investment? Take the quiz below to find out!  

Do you want an investment that has liquidity?
Do you want an investment that holds value fairly well?
Do you want to invest in something that will increase in value even as the dollar decreases in value?
Do you want an investment that will assist in diversifying your portfolio?
Are you looking for an investment that will allow you to earn passive income?
How do you feel about an investment that requires not only storage but also insurance?
Are you in the market for an investment that will have a capital gains tax that is higher?
How do you feel about the devaluation of local currency coinciding with an increase in the price of gold?