Gold pulled back from it’s record high today. The Dollar bounced up after some sustained losses recently. Again, I never look at gold from a day trading perspective. It is my opinion that individual investors shouldn’t try to make a quick buck from day trading gold. However, I advocate a balanced approach to buying gold. When you have money that you would like to save, then it’s a good idea to put a portion of it in gold.

As the recent rally has shown. Gold is a great hedge against the Dollar. If you have all your savings in one asset class then you are exposed. Prudence is the best approach for the long term financial future of individual investors. Buy gold when you can afford it at different intervals. The concept is that you are protecting the purchasing power of your savings by buying gold.