Sunday, September 22, 2013

The Case For Investing In Gold

Here's a useful article that popped up on Zero Hedge today:

"The last two years have been disappointing for gold investors and what happened this week to the yellow metal epitomized the frustrating price movement. After the Fed startled the markets by announcing that it was going to continue with its current rate of bond purchases, gold shot up from just under $1300 an ounce to $1370. But late Thursday, it started to back off somewhat from those gains before falling sharply on Friday.  It ended the week at $1325, virtually unchanged from the prior week.

How can that possibly be?  It has, after all, become more evident that the Fed is politically hindered from turning off the money spigot. If gold can’t stay elevated on that development, what hope is there going forward that it will resume its decade-long uptrend and eventually overtake the  2011 high of $1900 per ounce? And so why bother investing in gold?...more here

Gold in New Zealand dollars: $1585.65 per oz
Previous all-time high: $2311.02 per oz (15 Nov, 2011)
Low since previous high: $1532.30 (28 June, 2013)

Silver in New Zealand dollars: $26.08 per oz
Previous all-time high: $59.19 per oz (30 Apr, 2011)
Low since previous high: $23.51 (28 June, 2013)

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  1. There are many wondering whether there will be a bull run in gold later this year that will test the $1900 price of august 2011. Possibly after october 17, but who really knows?

  2. Gold and silver price are volatile in nature. There is a trend to invest in gold and silver but that does not mean that gold and silver prices will keep on going up. They do crash now and then.