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      June 23, 2018

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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.

Gold hits 6-month low as investors sell, dollar climbs

LONDON (Reuters) - Gold prices sank to six-month lows on Thursday as investors sold holdings in the physical market and the dollar climbed due to expectations of higher interest rates in the United States. Spot gold XAU= was down 0.4 percent at $1,262.78 ...

Published:  Thu, 21 Jun 2018 23:49:00 GMT



Why I'm buying gold for the first time since the election

I've been bearish on gold, to say the least. After a 7 percent slide since its April high, it's lost a bit of its luster. But the setup has strengthened, and I'm buying what I like to call "the most expensive doorstop" in the world for the first time since ...

Published:  Thu, 21 Jun 2018 11:22:00 GMT



Gold Price Prediction - Gold Rebounds as Fast Stochastic Generates Buy Signal

Gold prices rebounded from session lows closing up slightly on the session, after hitting a fresh 6-month low. The risk of a global trade war helped buoy gold prices. Target support on the yellow metal is seen near the December 2017 lows at 1,236.

Published:  Thu, 21 Jun 2018 17:47:00 GMT



Gold Galaxy S9 and S9 Plus go on sale June 24 at Best Buy and Samsung

If the Galaxy S9 and S9 Plus don't grab you in lilac purple (our current fave) or coral blue, Samsung is offering up a new shade for its flagship phones: Sunrise gold. Samsung says that this color will have a "satin gloss finish", a first for Samsung ...

Published:  Wed, 20 Jun 2018 06:00:00 GMT



Katoro Gold to buy Haneti Nickel project from Kibo Mining

StockMarketWire.com - Katoro Gold said Friday it had entered into an agreement to buy the polymetallic Haneti Nickel project in Tanzania from Kibo Mining for £0.2m in shares. Under the terms of the deal, Katoro would pay £0.2m, through the issuance of ...

Published:  Thu, 21 Jun 2018 23:34:00 GMT



Gold Looks Bearish: Is That A Reason To Buy

A bearish time of the year for gold. Rate hikes could be bearish, and the dollar is weighing on gold. Gold in euros and yen is strong. Trade issues- Bullish or Bearish Just like in 2016 and 2017, gold came out of the gate at the start of 2018 and moved to ...

Published:  Wed, 20 Jun 2018 04:25:00 GMT



Dave Ramsey: Focus on debt, not buying gold, silver

Dear Dave: I make about $240,000 annually, and I will be maxing out my 401(k) contributions this year. I have $60,000 in student loan debt I'm trying to pay off, a small amount left on my home mortgage, plus I've been investing in a lot of gold and silver.

Published:  Thu, 21 Jun 2018 13:01:00 GMT



Should You Be Tempted To Sell Barrick Gold Corporation (TSE:ABX) At Its Current PE Ratio

Barrick Gold Corporation (TSX:ABX) is trading with a trailing P/E of 16.2x, which is higher than the industry average of 11.2x. Although some investors may jump to the conclusion that you should avoid the stock or sell if you own it, understanding the ...

Published:  Wed, 20 Jun 2018 13:28:00 GMT



Beautiful new 'Sunrise Gold' Galaxy S9 is exclusive to Best Buy and Samsung.com

Just in time for the heat of summer, Samsung has a fresh new color for the Galaxy S9 and S9+: Sunrise Gold. The new color is arriving exclusively at Best Buy and Samsung.com, for both the GS9 and S9+, on June 24. The new color isn't exclusive to any ...

Published:  Wed, 20 Jun 2018 06:09:00 GMT



Japan's Sumitomo says to buy 5-pct stake in Peruvian gold mine

TOKYO, June 21 (Reuters) - Japanese trading house Sumitomo Corp on Thursday said it had agreed to buy a 5-percent stake in the Yanacocha gold mine in Peru for $48 million, as it looks to boost its assets in the metals sector. Yanacocha, which has been in ...

Published:  Thu, 21 Jun 2018 01:27:00 GMT



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