Precious metals,a wise investment?

[smifffymoto]

I have a friend who keeps banging on about precious metals and how they are expected to do in the near future(gold to double etc)and how safe they are.

I am not so sure,I think I am to late and have missed the boat also the gains seem to be exagerated.My equities are doing very well so am reluctant to change my portfolio without reliable information.

[ringram]

[smifffymoto]

Thanks,that is just the information I was after.

God,I love Pistonheads.Some body always knows the right article or has the correct information too hand.There is also alot of ste but that's for another thread.

[caziques]

Gold in particular is a giant Ponzi scheme. It produces nothing while sat in a bank vault, unlike say a company that actually makes something.

[cymtriks]

Gold still isn't as high as it was back in 1980 when you correct for inflation.

There might be a sudden surge when the PIGS fold and in the repercussions immediately afterwards but this may already be priced in.

After that why would the price stay high?

[Efbe]

I would avoid.

personally I think certain areas of the technology market maybe a better bet