Question: Should I have invested in gold?
I just invested $ 10,000 into gold coins about a week ago, I have the standard of buying and holding for the longterm as gold has risen substantially in price over a 10 yr period. I am now wondering if I made the right choice, I can pull my money out but will lose about $ 900 on fees and GST etc? What do I do?
Answer:
You bought them a week ago and you are thinking about taking a 9% loss right now?! Did today?s little 1% drop scare you? Nobody can say what gold is going to do, but you pulled the trigger and I can?t see anything right now that would convince me it was a bad trade. You have to stick with it.
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