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John Dunn ReportingGold may be the way to go when it comes to investing. Many investors are looking to gold as a "just-in-case," with a weak dollar and the war in Iraq having some effect on the economy.
"Gold is the only thing that's ever survived in any society, since the beginning," says Monarch Coin founder John Larson.
Analysts say there are a few ways to delve into the gold market, including buying the metal itself. An ounce of gold goes for about $550 per ounce.
"The time to buy is when you've got the money," Larson says.
The price of gold has gone down, though. Gold went for about $800 per ounce in 1980. Analysts then thought the price might go above $1000.
"You might own gold for ten years, and only maybe in six months it really does something. It's a hard-to-understand investment. It's a fear and greed thing," says Roger Smedley of Smedley Financial in Salt Lake City. He says think of gold mutual funds, "if you can invest in gold itself or in companies that run the mining or different operations."
"It represents concentrated wealth. I think people are attracted to the glitter, but that's really not where you want to go," Smedley says.
