Our reviewers evaluate products and services based on unbiased research. Top Consumer Reviews may earn money when you click on a link. Learn more about our process.
Friday, February 23rd
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.
Select any 2 Sites to Buy Gold to compare them head to head
GOBankingRates on ...
I’m an Investing Expert: Here’s Why Buying Gold and Silver Is the ...
Smart inheritance planning means setting priorities to pass on wealth effectively. Before making estate plans, think about who will inherit and their needs and values. If you leave money and assets in ...
Fri, 16 Feb 2024
Benzinga.com on MSN
'People Are Going And Buying Gold' Dave Ramsey Is Shocked By This ...
People turning towards gold, historically seen as a safe haven during economic turmoil, reflects a deep-rooted concern over the stability of traditional banking systems. This shift suggests that ...
Mon, 19 Feb 2024
CBS News on MSN
Here's how the price of gold has changed in the last year (and why ...
The price of gold has grown from $1,834.39 to $2,019.38 per ounce over the last year, according to American Hartford Gold. That's a gain of $184.99 per ounce — or an increase in value of about 10.08%.
Fri, 16 Feb 2024
Reuters on MSN
Newmont plans to divest six mines, cut jobs to reduce debt after ...
Newmont Corp on Thursday beat analysts' estimates for fourth-quarter profit and the world's largest gold miner will divest six non-core assets as well as trim its workforce to cut debt following its ...
Thu, 22 Feb 2024