With the stock market looking relatively resilient in recent days, the price of gold has hit a three-month low, down 2% to under $1,160 an ounce. But does that mean investors would do well to buy the yellow bullion now? It has, after all, long been used as a hedge against inflation, a place to park your money during uncertain times. As concerns over the sovereign debt crisis in Europe rose, so too did the price of gold.
James Altucher, managing director of Formula Capital and a DailyFinance columnist, says all the fuss about gold is way overblown. While it has been a great investment over the past decade, Altucher points out that "gold is a rock" and in his view, stocks make far more sense for investors. In the short video below, Altucher speaks frankly about the future of gold, silver and stocks.
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