Gold has been a valuable and highly-sought after metal since long before the beginning of recorded history. This is no exception even till today, especially during this troubling period as many are concerned about whether we will enter into yet another global economic downturn.
In the following months, gold prices are likely to soar higher as investors continue to dash towards the metal for safety. Whether it’s the uncertain growth in the United States, volatile financial market or the Europe debt crisis, all these factors fuel and support the growth of the gold’s strength in today’s market.
Besides the above mentioned issues, there is another key reason to get into the gold business. “There’s this general fear of currencies losing value at a rapid clip and you are going to see gold as a beneficiary of a lot of money going into tangible assets,” said Scott Meyers, a senior trading analyst with Pioneer Futures in New York.
And this is a harsh reality as we made reference to Japan’s draconian measures to tamper down the yen and the Swiss National Bank’s recent move to decrease the value of the franc. Given that investors have nowhere to hide these days, we are seeing gold becoming increasingly credible as a safe-haven.
No comments:
Post a Comment