Gold still favorite among precious metals for hedging against crises

Some of the points to consider before investing in gold and other precious metals.

CHICAGO (Chicago Tribune) - 

Gold has had its ups and downs recently, hitting an all-time high in mid-June and hitting a two-month low just four weeks later. And while many investors flock to this commodity when the market's in trouble, gold might not be a good fit for your portfolio. If you're thinking about investing in gold, consider this:

Don't overdo it. Gold can provide diversification, but investors should be aware of the risks of investing in commodities. "Gold is really a precautionary hedge and not something your whole portfolio should be in," says Paul Zemsky, head of asset allocation for INGInvestment Management. He recommends that investors only have 3 percent to 5 percent of their overall portfolio in gold........

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