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Why Gold Buying Has Become So Popular

In these uncertain economic times, investors aren't sure where to put their money. The world stock market has been unstable at best for the last couple of years, with investors struggling from one day to the next to determine where to place their assets for the best return.

But there's one investment that seems to be defying the odds: gold.

Just like the Klondike Gold Rush of 1898, it seems like everyone and their brother is trying to cash in on the resurgence in the popularity of gold. And with trend of gold prices rising and setting record highs, it's easy to see what the fuss is all about.

However, it's important to note that gold hasn't just recently gained popularity. It has been a hot commodity for over 5,000 years. In fact, it was the source of quite a bit of controversy in the 1930s, when President Franklin D. Roosevelt signed into law Executive Order 6102, which forbade the "Hoarding of Gold Coin, Gold Bullion, and Gold Certificates with the continental United States". In essence, the executive order made it a criminal act for an individual, partnership, association or corporation to possess monetary gold.

With times being hard, Americans stockpiled gold in all its forms to help provide some financial stability. However, FDR's executive order required all Americans to turn over to the U.S. Federal Reserve all but a small portion of their private gold stores. Failure to follow the order resulted in up to 10 years in prison, or a fine of roughly $10,000.

Americans who did not want to turn over their excessive amounts of gold often chose to instead transfer it to other countries for safe keeping.

However, most Americans fell out of love with gold in the 1960s. It has only been within the last five years that gold has experienced a resurgence in popularity and in value thanks to a recession and the slow economic recovery that followed.

Commercials promising the most "bang for your buck" with the purchase of or investment in gold flooded television and radio stations. With a growing recession and the U.S. Dollar continuing to decline in value, Americans wanted something that would be valuable, even as the value of their paper currency continued to nose dive. With interest rates bottoming out and the federal government losing faith in the value of its own currency, the gold rush of the new millennium raced ahead full steam.

Just as people are investing in gold, a number of businesses designed specifically for buying gold also have gained popularity in the last couple of years. With promises of providing cash on the spot for unwanted gold, many people have been tempted to sell off their unwanted gold jewelry to earn some greenbacks. So the "gold buying frenzy" has gone both ways.

Barrick Gold: Sell The Rally

Barrick Gold has rallied 37% off of its lows in the past month. While 2019 earnings estimates are an improvement from 2018 levels, they are still below 2017 levels. The stock likely needs a ...

Published:  Tue, 16 Oct 2018 08:58:00 GMT



If You Like, You Can Buy This Gold Bust of Kate Moss For a Measly $300,000

If you happen to be in London today-Wednesday, October 17-and in the market for a life-size and life()-like replica of Kate Moss's face made entirely of gold, boy, do I have some good new ...

Published:  Wed, 17 Oct 2018 07:13:00 GMT



3 Top Gold Stocks to Watch in October

But if you're concerned the recent decline in stocks could become a protracted drop, putting some cash in the iShares Gold Trust is one way to hedge your portfolio. It's not a strategy I'd use with a ...

Published:  Mon, 15 Oct 2018 05:11:00 GMT



You Can Buy a Solid Gold iPhone XS MAX for $94,995 USD

In case you think Apple"s $1,449 iPhone XS MAX 512GB phone is not nearly expensive enough, you can actually splurge a lot more and get a solid gold version for $94,995 USD. The custom iPhone is made b...

Published:  Wed, 17 Oct 2018 09:50:00 GMT



9 Best Gold Nail Polish Colors: Your Buying Guide (2018)

Gold nail polish makes me feel glamorous and luxe. Metallic polishes can range a warm bronze to full on mirrored chrome. They can be a smooth solid shade, large flecks of glitter, or a color ...

Published:  Mon, 15 Oct 2018 14:10:00 GMT



5 Reasons Never To Buy Gold

If the markets fall, some investors tend to flee to gold as a hedge in their portfolio. In this article I present five reasons why I will never invest in gold. I invite the readers to convince me ...

Published:  Mon, 15 Oct 2018 18:39:00 GMT



Harmony Gold (HMY) is a Great Momentum Stock: Should You Buy

Momentum investing revolves around the idea of following a stock's recent trend in either direction. In the 'long' context, investors will be essentially be "buying high, but hoping to sell even ...

Published:  Tue, 16 Oct 2018 08:07:00 GMT



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