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Gold Continues To Soar: How To Profit

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Gold Continues To Soar: How To Profit

There is no denying that the markets are currently uncertain.

Despite this, gold is continuing to soar high.

How gold is currently performing

Gold is currently trading at $1,324.90 per ounce, although it is currently trading -15% overall, the price of gold has been rising.

The price of gold soared on the June 23rd, and had been steady since.

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In fact, gold has been following this pattern for a while; in the past month, the price of gold soared at the beginning of the month and steadily rose.

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Despite a steep dip around June 20-23rd, gold prices have started to increase once more.

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Charts show that the most recent upward trend started a year ago.

Prices peaked mid-2012, where they began to decline until the end of 2015, when they began to creep back up again.

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Gold in comparison to other metals

Gold is currently trading at $314.70 above platinum, and $1,306.54 above silver.

Despite valuing high against other metals in the market, silver and copper are the only metals to show an increase.

All metals, however, show an overall improvement when compared in a 52-week price range.

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Reasons to invest in gold

The stock markets are currently up and down amid huge uncertainty across the globe, especially in Europe.

Currently the markets look good with Dow +1.64%, Nasdaq +1.86% and S&P +1.70%.

However, when you look at the markets five days post Brexit, it paints a more uncertain picture after they plummeted over the weekend because of events unfolding in Europe.

  • Gold, however, has remained immune to current events around the world. Gold’s stability in the markets is making it a very attractive investment to those who are taking a more cautious approach in such a volatile market.
  • Historically gold is a safe investment for many reasons, like:
  • Gold is not often affected by inflation or deflation
  • Reduction in supply has boosted the value of gold
  • Increase in demand has also caused the value of gold to rise
  • Historically gold has a negative correlation to other stocks

What should you know before investing?

Before investing in gold, there are a few things you should consider, like:

  • What kind of gold
  • When should you invest
  • How much to invest
  • How to spot a good gold firm

The type of gold you invest in will depend entirely on why you are spending it in the first place.

Bullion coins suit investors who are looking for a haven in times of uncertainty and those who are seeking to take advantage in price movement.

There is no ‘right time’ to invest.

Gold is an investment that does not work the same way as other stocks in the market as gold does not react to the state of the current financial markets.

Since gold does not respond to the markets in the same way as other stocks, then your approach to investing in gold will again be different.

The amount you may want to spend is usually based on how concerned you are about the state of the financial markets.

A good gold firm will have a positive record on the Better Business Bureau’s website; a good profile will mean that they have an excellent rating and few complaints.

It is also a good idea to pick a firm that has a lot of experience, and a good record of accomplishments.

Other safe investments

It is understandable that investors will be looking towards ‘safe havens’ during times of uncertainty.

Government bond prices fluctuate based on supply and demand; however, the rate of interest remains the same.

This means that the more people who invest in bonds, increases their price, but reduces their payouts.

Whilst some currencies, such as the British pound is currently volatile, other currencies are more promising.

The Japanese Yen has been performing well despite trouble elsewhere in the Asian markets.

However, the Japanese Government has plans to take action against the rising of the Yen.

Conclusion

The price of gold has been on an upward trend for a year after dropping at the end of 2015.

This has caused investors to turn to gold in an attempt to protect their money from the current volatile market.

Many factors make gold a haven, the main reason being that gold is unaffected by the state of the financial markets as other stocks are.

It is important that to consider some factors when investing in gold, such as what type of gold to invest in, and ensuring you pick a good firm.

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