Gold Has Been Reaching Record Highs of Late, with the Price of Spot Gold Hitting $ 3,357.40 (£ 2,532) per Ounce for the First Time Ever on Wednesday.
It marked a rise of around $ 700 (£ 528) this year and comes at a time of significant Unceinty over Donald Trump’s Recipes on Import.
That is no coincidence.
That’s because gold is a tangible commodity
Gold Prices Fell More Thhan 1% on Thursday After A Sharp Rise in the Prevision Session as Investors Booked Profits AHEAD OF A Long Easter Weekend.
The Open Pit Gold Mine of GoldCorp in Penasquito, Mexico. Pic: Reuters
An Estimated 3,000 Tonnes Are Mined Each Year, with China Mining The Most Gold in 2024, Followed by Russia, Canada and The Us.
And the Bank of England Holds The World’s Second Biggest Known Trove, with Roughly 400,000 Gold Bars Worth Billions of Pounds Sitting in Its Vaults.
So when it is it going up in value?
Gold Considered A ‘Safe Haven’
The Precision Metal is Known As A “Safe Haven” – An asset that typically retains or increases in value during times of market turbulence or economic unceintin.
Gold Bars Are Displayed at a Gold Jewellery Shop in the Northern Indian City of Chandigarh. Pic: Reuters
Investors typically flock to safens to protect their capital from Losses where markets are volatility.
So’s Perhaps no Surprise that its Value Has Skyrokeneted at A Time Who Markets Around
“Gold Remains Heavily Supported by A Broadly Weaker Dollar, Unceintintyr AROUND Recipes Announments and Fears About A Global Recession,” Said Lukman Otuna, Senior Research Analyst at Online Trading Broker FXTM.
Singapore-Based Dealer Goldsilver Central Managing Director Brian Lan ADDED: “Gold Will Continue to Be Strong AS Long As There’s Uncertain.”
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Gold Saw A Similar Surge at the Start of the CovID-19 Pandemic, BUT HAS BEEN ON THE HAS BEEN ON Upward Trend For Years.
Popular Investment, But Not Without Risk
THOSE IN LAVOUR OF INVESTING IN GOLD ARGUE İT CAN SERVE TO Diversify and Balance Your Investment Portfolio, As Well As Mitigate Possible Risks Down The Road.
SOME ALSO Take Comfort in Buying Something Tangible That Has The Potental to Increase in Value Over Time, and WHich Isn’t Directly Tied to Global Currencies.
But Gold Sceptics Warn People to Be Wary.
The Commodity Futures Trade Commission Has Prehenly Warned That Pretion Metals Can Be Highly Volatil, and Prices Rise As Demand Goes Up – Meaning “WHEN Economic Anxietiy Or Instability Is High sellers “.
It Adds that if you do choose to invest in gold, it’s important to educate your trading practices and be cautioous of potental scams and courses on the market.
And WHY Gold Being a Tangible Currency is in Many Ways See A Plus, it Also Means it Can Run Out; and some analysts esemate it will do so in less three decades.
You can read More About of a Gold Shortage Here.
