November 22, 2017

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Reasons To Buy Gold Now


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Reasons To Buy Gold Now

The price trend for gold in recent years has produced quite a roller-coaster of a ride, with values as high as $1,800 per ounce and more. Even at its lowest values in 2012, gold was still above $1,500 per ounce. Gold has been on a 12-year high which doesn't seem to be ending anytime soon.

Although the price of gold can fluctuate wildly from year to year, the recent trend has been a steady increase in value and record-breaking prices.

One of the biggest reasons to invest in gold right now is that, unlike other forms of currency or investment options, gold holds its value. It is not subject to inflation or uncertainty about the global economy. The only threat to the value of gold is a strong paper currency. While the U.S. Dollar has gained back some of its lost value over the last year, it still is too low to be a real threat to gold at this time.

In a recent report, the World Gold Council said it predicts the gold market will continue on its "bullish" trend. The report indicates that the annual total of 534.6t "represented the greatest level of demand (for gold) since 1964 as the net of central banks adding to their gold reserves was cast wider, reaching Brazil, Iraq and Venezuela". In a financial environment where countries are engaged in a staunch competition to devalue their respective currencies, central banks will continue to seek financial refuse in gold.

Investment firms also are driving the trend toward more gold investment, with bold predictions that the price of gold per ounce will only continue to climb. Big-name players such as Merrill Lynch and money manager Peter Schiff have called for prices to rise anywhere between $2,300 and $5,000 and more over the coming months and years.

Aside from the bold predictions about the future value of gold, there are other reasons why investors should consider placing their money in this precious metal.

One of the biggest reasons to invest now is because of the rules of supply and demand. Goldman Sachs estimated that the production cost for gold is around $750 per ounce. That is far less than its current worth, making it a prime investment at this time. However, as demand for a product grows, so does production of that product, creating a supply glut that eventually will bottom out the price of gold. It is best to buy gold and cash in now before this happens.

Another reason to invest now is the stock market. From 1999 to 2006, the price of gold soared. The time period when gold realized its biggest increase in value was from 2000 to 2003 when, coincidentally, the stock market was crashing. When the market crashes, and the value of traditional stocks and bonds bottoms out, investors look for a stable place to put their money.

Mark O'Byrne: The Smart Money Accumulated Gold On Yesterday's Price Smash

Such sell offs have been seen frequently in recent months and tend to be short lived. Smart money will again accumulate gold on the dip. We went over a few scenarios of the mechanics of market manipulation in our BOHICA post yesterday. As stackers keep on ...

Published:  Wed, 22 Nov 2017 07:05:00 GMT

Teranga Is Aiming To Become A Mid-Tier Gold Producer But The Market Isn't Buying It

In two separate announcements last week, the company delivered great drill results at its 'Golden Hill' project in Burkina Faso. The market, however, has been totally avoiding the company as it is progressing towards building the 'Banfora' mine in Burkina ...

Published:  Wed, 22 Nov 2017 02:12:00 GMT

UK-based fintech Glint unveils current account for gold

Users can load fiat currencies onto their Glint account to buy portions of gold bars, which are located in a vault in Switzerland. When making a payment with the debit card a user can then choose whether to pay in particular fiat currency, or with gold.

Published:  Wed, 22 Nov 2017 05:25:00 GMT

Gold Versus Bitcoin: The Pro-Gold Argument Takes Shape

Most people buy them for the sole reason of selling them later at higher prices. This is pure speculation, not hedging. #6: Cryptocurrencies Do Not Have Gold's History as a Store of Value. Cryptocurrencies have been around for less than a decade ...

Published:  Tue, 21 Nov 2017 00:00:00 GMT

Hedge Funds Slowly Buying Gold, Silver

(Kitco News) - For the second week in a row, hedge funds waded slowly back into the gold and silver market, according to the latest trade data from the Commodity Futures Trading Commission. The disaggregated Commitments of Traders report for the week ...

Published:  Mon, 20 Nov 2017 06:11:00 GMT

BlackRock: It Might Be Time To Sell Gold Now (IAU)

From BlackRock: Gold has performed surprisingly well this year. Russ discusses why that might not be the case going forward, and it may be time to pare positions. For a year in which risky assets continue to grind higher, assets offering potential hedges ...

Published:  Mon, 20 Nov 2017 13:24:00 GMT

Iranian Olympic athlete to sell gold medal for earthquake relief

Weightlifter Kianoush Rostami won his gold medal in Rio last summer but says it belongs to the people of his home country. Rostami, 26, is auctioning off his medal to raise money for those affected by the 7.3-magnitude earthquake that rocked the Iran-Iraq ...

Published:  Thu, 16 Nov 2017 12:29:00 GMT

Gold Sector is On a Long-term Buy Signal

Technical analyst Jack Chan charts the latest movements in the gold and silver markets. Our proprietary cycle indicator is down. The gold sector is on a long-term buy signal. Long-term signals can last for months and years and are more suitable for ...

Published:  Wed, 22 Nov 2017 05:19:00 GMT

Olympic Weightlifter To Sell Gold Medal For Iran's Earthquake Victims

Olympic gold medalist Kianoush Rostami of Iran is auctioning off his prestigious medal to raise money for the victims of Sunday's catastrophic earthquake on the Iran-Iraq border, which has left at least 530 people dead and thousands injured.

Published:  Tue, 14 Nov 2017 13:44:00 GMT

Turks follow Erdogan's call to get rid of dollars & buy gold

The latest World Gold Council report shows Turkey has sharply ramped up gold buying with both the central bank and ordinary people joining the rush. "Bar and coin purchases, a measure of investment demand, were 47 metric tons so far in 2017, compared ...

Published:  Wed, 15 Nov 2017 02:42:00 GMT

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