Tuesday, March 31, 2009

According to Andrew Wilshire, we should hold onto our gold

My grandpa just recently sold off his dry cleaning business of 60 years.  During that time, my mom, dad and both uncles were employed by him at some point.  One uncle split off several years ago to pursue a real estate career, but the other one stayed until the very last day, complaining the whole time.  Needless to say, he took his share of the money and drove out to California, where he has been gold-mining for nearly a year already.  I don't think he has dug up a whole lot, but if he does, it sounds like he should hold onto it and not cash it in just yet since the value of gold is much stronger than the US dollar right now.

Andrew Wilshire is an expert investor in bullion and precious metals.  He advises that we invest in gold and silver right now, since they are experiencing growth and the US currency is worth less and less.  This is especially true since we have recently acquired trillions of dollars of debt to help save our economy from the recession.  

I have thought of cashing in some of my old jewelry to give my bank account a little boost, but according to Andrew Wilshire, it sounds like I should hold onto it for now.  It will end up being worth more than the couple hundred dollars I might get in return.  Since I don't keep up on the gold and silver stocks, it's nice to have advisors like Andrew Wilshire, suggesting what to do with my precious metals.  I'll have to pass the word on to my uncle... so he will hold onto that big nugget he hopes to come across.

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