Experts advise adding to portfolio.
Jordan Goodman talks investments with Wills and SnyderGold prices are bounding higher amid a weaker dollar and a report showing a bigger-than-expected jump in inflation.
That means financial experts are urging people to add gold to their investment or increase their portfolio.
Jordan Goodman of moneyanswers.com thinks at least 20% of your investment portfolio should be gold. He expects prices to go even higher.
Gold for December delivery is up $5.20 at $1,006.30 an ounce on the New York Mercantile Exchange. It is the third straight day the precious metal closed above $1,000 an ounce, rallying as the dollar falls against other major currencies.
Gold is used as a hedge against inflation and a weak dollar. Other metals and energy futures are higher.
This may also be a good time to sell old gold jewelry to a reputable dealer.
The gold is sent to a refiner to be melted down and turned into gold bars. Dealers will pay you a percentage of the daily price of gold, depending on the weight and quality of your items.
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