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Depending on who you ask, gold is at a record high. This statement can be found to be both true and false at the same time. Gold from a historical standpoint is high and holding steady @ $1300/oz -/+, but, is that a record high? Not even close! Gold prices started to rise back when the economy started to tank in 2007, gold prices that year saw a significant jump (31.59%). People began to lose faith in the US dollar and started investing their money in something more tangible, precious metals. Now, if you were lucky/smart enough to catch this wave on the front end and invested aggressively, chances are you're sitting pretty at this point and still riding that wave more than a decade later. Precious metals have become a hot commodity among investors and have secured many people's financial futures. Gold prices reached their peak price per ounce back in August 2011 when gold briefly was traded at $1917.90/oz, a far cry from gold prices a decade prior ($276.50/oz). Today people invest their money in many different forms of gold, some people buy bullion which is refined and almost currency like. Some people invest in gold that is wearable, whether it be high karat heavy pieces or lower karated, you invest what you can. The million dollar question is, where does gold go from here? Well, if I had the answer to that I certainly wouldn't be typing this blog right now. I'd be sitting on my own private island with a mixed drink in my hand while my daughters played with their pet dolphins somewhere in the Caribbean. Gold prices will always fluctuate from day to day while the trading markets are open, but, is there another spike in store that people could highly benefit from?? The writing could be on the wall, pay attention to major players in the market and stay ahead of the curve on things happening in the world, all of these things drastically can affect the price of precious metals.
Thanks for reading!