Gold is a valuable metal used mostly in making jewelry. It is also used in industry, food and drinks, medicine etc. Gold is a very precious metal, and is measured in grams, or troy weight. The word carat is used to tell the purity of gold. The question arises – what is the price of gold? The prices of gold changes daily. The current price of gold in USD is $1585 per ounce (as April 2013). Its price increases worldwide as the amount of Gold is being bought and used. As the dollar increases the price of gold rises to. In 90’s and 80’s gold prices went down day by day but now every month the price of gold rises. According to some analysts it is thought that the prices f gold will go higher and higher till 2018. Gold had an upward momentum in the first half of 2012, and is predicted that it will have more upward momentum in the second half of 2013.
Investing in gold can be a great way to diversify ones portfolio. Gold is a commodity that is in strong demand in both developed and non developed countries. Gold is used in technological devices such as computer chips, mobile phones and it is also used in more traditional ways such as in jewellery and coins. Making money on gold can be done in 2 ways, one can trade gold and the aim here is to buy it lower than you will sell it at, this is a short term trading option. The other is to buy gold or gold bonds etc and invest in it for a longer period of time similar to what one would do with long term share or property investing.
| TIPS TO BUY GOLD |
One can buy gold ira’s, buy gold as part of a 401k. When investing in gold it is important to find trends in the price of gold and this can be done by viewing the historical gold price movement that has happened over time. You can find this by searching online for the gold price. Lots of people are turning to gold as an investment.