Invest in Gold: Is Gold Precious?
Grandma told them that gold is precious because it is something that can be exchanged for something else of value. Most often, it can be exchanged for cash or something of even greater value. .
She continued, “As for your father’s tip for investing in gold, it depends what you think the future looks like. If you think the economy in the future looks bumpy and there is a possibility that the stock markets could go down, experts would tell you to invest in Gold. If you think the economy in the future looks peachy and everyone will have jobs and plenty of money, then experts would probably not tell you to invest in gold."
“How do I invest in gold?” asked Teyus.
"Since you are too young to invest and buy shares in a company that deals with gold, you would need to buy it with your parents. Or you could save a bit of your money and buy a gold coin or small gold bar. One ounce (the weight of four loonies) costs about one thousand, five hundred dollars ($1500).”
Mira and Teyus looked at each other and were truly impressed by what they were hearing. Gold which was bought for $20 per ounce when Grandma was young, was $1500 an ounce today!
Grandma asked Mira and Teyus to do a mission to see whether investing in gold or the stock market would make more money.
You can do it too if you like.