A couple of nights ago, my friend was watching a TV program which says that we should buy OIL as it will go from the current US$100 per barrel to US$120 in the near term.
I told him that it will be a very risky move as US$100 is already VERY high and jumping in now would be pure hit and run speculation. I mentioned to him that should he wish to invest his money for the long term, he should bet on a commodity that is low now and wait it out.
Precious metal, like silver, is a very good long term investment. Of course, gold is already very expensive but silver still has room to grow. With the demand from China still going strong, prices for precious metal will be on an uptrend for quite a while.
Luckily, with a company like Monex, we do not need a huge amount of money to invest in precious metals as they are able to accommodate our investment size.
I told him that it will be a very risky move as US$100 is already VERY high and jumping in now would be pure hit and run speculation. I mentioned to him that should he wish to invest his money for the long term, he should bet on a commodity that is low now and wait it out.
Precious metal, like silver, is a very good long term investment. Of course, gold is already very expensive but silver still has room to grow. With the demand from China still going strong, prices for precious metal will be on an uptrend for quite a while.
Luckily, with a company like Monex, we do not need a huge amount of money to invest in precious metals as they are able to accommodate our investment size.
2 comments:
I agree with you. Buying oil sounds like a risky investment.
Hi Kahealani,
Happy New Year!!!
Oil price is too high right now and although it is projected to go higher, we are not that rich to sustain the correction in price so the risk is very high if we go in now.
Post a Comment