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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Gumby

gOLD IS JUST A ROCK,,, ALUMNIUM IS JUST A ROCK,M, COPPER IS JUT A ROCK,,, MOLYBDENUM IS JUT A ROCK,,, COBLAT IS JUST A ROCK,,, IRON ISJUTS A ROCK,,, ZINC IS JUST A ROCK,,, LEAD IS IJUST A ROCK,,, ROCK ON ROCK O!~!!

July 30 2010 at 12:42 PM Report abuse -1 rate up rate down Reply
hello

Just ask yourself-was this guy ever recommending gold? Did he recommend it 10,9,8,7,6,5,4,3,2 years ago-No! Didn't see it then doesn't know what he's talking about now. And yeah gold is just a rock. And this is the fool that believes that money that is back by nothing but the promise to pay you with the same but with less value and is only worth anything because people believe it's worth something and because your forced to deal with it because of legal tender laws-"accept this monopopy money and nothing else and don't defy us or we'll put you in the gulag". Someone is in wonderland where money grows on trees and being in debt is a sign of wealth.

July 29 2010 at 7:08 PM Report abuse +1 rate up rate down Reply
hello

Just ask yourself-was this guy ever recommending gold? Did he recommend it 10,9,8,7,6,5,4,3,2 years ago-No! Didn't see it then doesn't know what he's talking about now. And yeah gold is just a rock. And this is the fool that believes that money that is back by nothing but the promise to pay you with the same but with less value and is only worth anything because people believe it's worth something and because your forced to deal with it because of legal tender laws-"accept this monopopy money and nothing else and don't defy us or we'll put you in the gulag". Someone is in wonderland where money grows on trees and being in debt is a sign of wealth.

July 29 2010 at 7:08 PM Report abuse +2 rate up rate down Reply
Maryanne

The stock market (investments) are backed by money, and the money is just paper (printed at will lately). Give me a hunk of gold or silver anyday versus your fiat money.

At his time in our country, I feel much safer being invested in gold and silver.

July 29 2010 at 4:19 PM Report abuse +2 rate up rate down Reply
1 reply to Maryanne's comment
pevchamp

booooooooo boooooooooooo

July 29 2010 at 11:26 AM Report abuse +1 rate up rate down Reply
surfr45

With Barack Obama as President you better hang on to your precious metals. We will see inflation sooner or later

July 29 2010 at 10:47 AM Report abuse +3 rate up rate down Reply
ssssmosk

I bought some gold about a decade ago and tripled my money. My friends bought stocks and lost 25% of their money in the past decade. The smartest thing to do is not bet on only one thing, it is smart to have at least 10% of your portfolio in both gold and silver, since no one can possibly know the future. I also think silver is the better bet since it also used in manufacturing. The only reason I can see that certain people are so down on owning precious metals is that they do not make a commision on the sale.

July 29 2010 at 10:31 AM Report abuse +4 rate up rate down Reply
1 reply to ssssmosk's comment
time1910

buy earnings buy dividends buy revenues.. not gold

July 29 2010 at 8:46 AM Report abuse -3 rate up rate down Reply
Jeff

Buy more paper? It is not worth the ink it is printed with.

July 29 2010 at 7:34 AM Report abuse +3 rate up rate down Reply
dterraman

I have some boxes of papper I was saving for mulch.....you can have that and feel rich.....paper is paper...

July 29 2010 at 6:06 AM Report abuse +3 rate up rate down Reply