"Gold gets dug out of the ground in Africa or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around and guard it. It has no utility. Anyone watching from Mars would be scratching their head"Those remarks about the logic of owning gold as an investment were made by someone far more experienced and accomplished in the world of investing than I, and who has been recognised over the past 4 or 5 decades as one of the single most successful investors of all time, Warren Buffett.We have written about the fact that there is a significant fall in the value of markets on the horizon, there always is, it is merely a matter of when it will happen, not if! Whenever that happens there is usually a run to gold as it is seen by many as a 'safe-haven' for their funds when the equity markets are falling. Why people don't just do nothing, and leave their investments alone in order to benefit from the constant upward curve of growth that the equity market provides is another issue altogether! Aside from that the fact is that gold gets very popular when markets hit a downturn, so we are going to explore the pros and cons of owning gold for investment purposes.If you are new here then you are most welcome to Ireland's dedicated Financial Planning and Personal Finance blog and podcast......we are delighted that you have joined us! If you are a returning visitor you'll already know we love you!!Paddy DelaneyQFA | RPA | APA | Qualified Coach