Okay, My apologies to Iphone 6 users. I know, the headline strikes the nerve after remembering how long one must have saved and all for that. However, old things have passed away and now you can invest your money into something that’s so old: Gold.

You might say, why would i invest in that, or how do i do so or it’s not my thing and all but here are some good reasons to do so.

A History of Holding Its Value
Unlike paper currency, coins or other assets, gold has maintained its value throughout the ages. People see gold as a way to pass on and preserve their wealth from one generation to the next

Increasing Demand
In previous years, increased wealth of emerging market economies boosted demand for gold. In many of these countries, gold is intertwined into the culture. India is one of the largest gold-consuming nations in the world; it has many uses there, including jewelry. For example, the Indian wedding season in October is traditionally the time of the year that sees the highest global demand for gold (though it has taken a tumble in 2012.) In China, where gold bars are a traditional form of saving, the demand for gold has been steadfast.

Naira Devaluation

Naira ‘s weakness against the dollar is as old as the serpent and eve. No matter what, we don’t see it overcoming the Dollar in the next decade at least and with investment options few and far between, Instead of tying your money on gadgets that will surely depreciate in value every passing day or a foreign exchange that’s fluctuating like a virtual see-saw, you might want to put your treasures on a steady shore.

The Bottom Line
Gold should be an important part of a diversified investment portfolio because its price increases in response to events that cause the value of paper investments, such as stocks and bonds, to decline. Although the price of gold can be volatile in the short term, it has always maintained its value over the long term. Through the years, it has served as a hedge against inflation and the erosion of major currencies, and thus is an investment well worth considering.

That’s all.

Culled from http://www.cashdown.com.ng/2016/03/01/why-nigerians-need-to-start-investing-in-gold-instead-of-iphone-6/

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