Investors Should Be Wary of Gold Claims

I recently received an article from the Topeka Capital Journal. It seems that the Kansas Securities Commissioner is warning people of possible scams. Really it isn't anything new as the same information as been given by many reputable financial advisors.

Kansas' securities regulator says investors should be cautious about putting money into gold and should be on the lookout for scams.
- Topeka Capital Journal

According to the Kansas Securities Commissioner investors are seeing a growing number of ads touting gold as safe. Gold prices are approaching record highs. However, historically the value of gold and related investments fluctuate more than the stock market. He said an investment in gold isn't foolproof.

Wilson also said investors have been harmed by promoters who pitch investment pools in precious metals or gold mines. Also, he said, when sellers offer to retain purchased gold in a secure vault and sell it when the price rises, the gold often doesn't exist.
- Topeka Capital Journal

I am glad the commissioner issued this statement. I have often felt the "secure vault" claim was a con job. It is nice to have an expert agree with my thought on this.

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