The price of gold took a big hit a few weeks ago.
In the last 30 days the price has dropped from a high of $1,606 to a low of $1,360. The drop was significant and only over a few day period. The price has since rebounded a bit to $1,453 but that is still a drop of $153 or 9.5%.
Those that are pro-gold used it as an opportunity to buy even more while detractors pointed out the instability in the price of the commodity. If you were able to snag more gold at $1,360 you have since earned a return of 6.8%.
No matter how you feel about gold you need free cash available to be able to purchase some. That means taking care of your finances, which these articles will help you do:
Fat Wallet | How to Budget for the Cost of a Wedding
Enemy of Debt | How Much Would You Pay For A Child’s Birthday Party?
Consumerism Commentary | Financial Role Models vs. Money Classes
Get Rich Slowly | 9 Traits of underearners
Money Under 30 | After Tax Day, What Next?
CNN Money | City trips for less
Good Financial Cents | 4 Secrets to Paying Off Debt Faster
Moolanomy | When to Hire a Property Management Company
Five Cent Nickel | The unemployment diet: How we cut our spending by $1,000 a month
The Simple Dollar | Four Hidden Costs of College
PT Money | 15 Mother’s Day Gifts and Activities that Won’t Blow Your Budget
Free From Broke was featured in the following carnivals this week:
Carnival of Wealth, Civic Lockdown Edition | Control Your Cash: Making Money Make Sense
Carnival of Financial Camaraderie #78
Festival of Frugality #384 | Evolving Personal Finance
Carnival of Wealth, Just Another Day Edition | Control Your Cash: Making Money Make Sense
With Gold being in the news much of the past couple of weeks, I remembered the words of one of my college Economics professors. He postulated that those who horde Gold are much like those stuck in Freud’s Anal stage, defined as the stage of psychosexual development that generally lasts from age 18 mo to 3 years. This was circa 1978. Amazing what you retain (or don’t) from college LOL. I also recall him showing up for class in sandals and a tie-died T-Shirt on several occasions.
Haha, yeah it certainly is interesting what sticks with you.