Gold is:
Down $86.70 today.
Down $87.40 the past month.
Down $257.00 the past six-months.
Down $178.50 the past year.
Up $575.70 over the past five-years.
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Take a look at this graph tracking the price of gold over the past 20-years:
http://www.galmarley.com/ChartApp/Images/USD_Line_20years_300x150.gif
As you can see, Gold has increased in value tremendously over the past three-years and as evidence in the chart it certainly has room to regress.
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Typically, the value of Gold has an inverse relationship with the value of the US Dollar. If the US Dollar drops in value, Gold increases in value.
The basic concept being that when the US Dollar decreases in worth, it purchases less gold.
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Many countries who have Oil in the Middle East have become aware of the inflation of the US Dollar. Because of this and a few other political reasons, the Middle East has decided it would rather conduct business in Gold rather than US Dollars.
China, having large stockpiles of Gold have no qualms with this agreement.
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Pretty much, the price of Gold currently sits at $1,483.86 per OZ. The price has decreased over $100 in the past two-days. Gold has not been this cheap since April 25th, 2011.
What we might see is many people selling their gold, a $100 decrease in the past few days will certainly cause a few to panic (it's human nature).
I would recommend everyone monitor the price of Gold over the next couple months or so because if it continues to plummet, it could present a great buy-low opportunity.
Down $86.70 today.
Down $87.40 the past month.
Down $257.00 the past six-months.
Down $178.50 the past year.
Up $575.70 over the past five-years.
-
Take a look at this graph tracking the price of gold over the past 20-years:
http://www.galmarley.com/ChartApp/Images/USD_Line_20years_300x150.gif
As you can see, Gold has increased in value tremendously over the past three-years and as evidence in the chart it certainly has room to regress.
-
Typically, the value of Gold has an inverse relationship with the value of the US Dollar. If the US Dollar drops in value, Gold increases in value.
The basic concept being that when the US Dollar decreases in worth, it purchases less gold.
-
Many countries who have Oil in the Middle East have become aware of the inflation of the US Dollar. Because of this and a few other political reasons, the Middle East has decided it would rather conduct business in Gold rather than US Dollars.
China, having large stockpiles of Gold have no qualms with this agreement.
-
Pretty much, the price of Gold currently sits at $1,483.86 per OZ. The price has decreased over $100 in the past two-days. Gold has not been this cheap since April 25th, 2011.
What we might see is many people selling their gold, a $100 decrease in the past few days will certainly cause a few to panic (it's human nature).
I would recommend everyone monitor the price of Gold over the next couple months or so because if it continues to plummet, it could present a great buy-low opportunity.