Katie Leslie of the Atlanta Journal-Constitution fielded commentary from Chris Mayer – editor of Capital & Crisis - for an article covering the appeal of gold for today’s investors. Read an excerpt of the article below:
In addition to global factors, that fear is what drives some of gold’s value, said Chris Mayer, managing editor of Agora Financial, an investment newsletter that has predicted the rise in gold value for several years.
“The government has big debt and a deficit,” he said.
“It means they’ll have to print more money to pay bills and borrow more money, which means the value of the dollar will weaken.”
And that is slowly catching the attention of those who previously poo-pooed the idea of investing in gold as positively kooky, he said.
“[Investing in gold] still feels quirky, or fringey,” Mayer said. “If there’s a profile [of the investor], it’s somebody who is a much more independent, outof-the-box person. … Maybe they are naturally distrustful or have been burned with mainstream advice or had bad experiences with Merrill Lynches of the world. It’s not the typical mainstream American who is buying gold, but that is starting to change.”
With prices at a record high, does it make sense to invest now? That depends, experts said.
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