3 Gold Stocks to Buy Even If Gold Doesn't Rise
For thousands of years, gold has functioned as decoration, jewelry...and currency. In fact, it backed the U.S. dollar for decades, until 1971, when President Nixon took the U.S. off the gold standard. Today, gold is still used for decoration and jewelry; it's a hedge against inflation, and an industrial commodity. And despite no longer being used as currency, it is still worth a great deal -- at this writing, $1,242 an ounce.
Image source: Getty Images.
But make no mistake, its value has swung and will continue to swing as time goes on. The only sure way for investors to make money off the precious metal is to invest in gold companies that make a profit no matter what happens to gold prices -- stocks like Royal Gold (NASDAQ: RGLD), Goldcorp (NYSE: GG), and Wheaton Precious Metals (NYSE: SLW).
Source: Fool.com
