Gold prices are taking a wild ride. How to buy and save?
The recent political and economic changes in USA are shaking the world economy. Together with other factors, they have pushed gold prices down.
How to take advantage of the golden hour?
“Whenever an overall breakdown of a monetary or financial system occurs, return to gold always restores order, revives confidence and brings back prosperity.”
Donald Hoppe, the author of “How to Invest in Gold Stocks and Avoid the Pitfalls”
For the first time this year, gold prices show a negative trend. Firstly, because of a stronger US dollar. Secondly, there is a 90 % chance that the Federal Reserve will increase interest rates after the meeting in December.
A tight monetary policy and the growth of US Treasury obligations have also led to increased pressure for gold.
What about the figures?
Now, gold prices are $1,169 per ounce. Last week, gold prices were around $1,190. However, the financial giants Oversea-Chinese Banking Corp. and ABN Amro Group, expect gold to stick to 1,150-1,100 $/oz by the end of the year.
What to do?
When prices are low, it is the right time to buy gold. After the meeting of the Federal Reserve and when 2017 starts, gold prices may jump again.
“Betting against gold is the same as betting governments. He who bets on governments and government money bets against 6,000 years of recorded human history.”
Gary North, acclaimed economic historian
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