Buying Gold? Know the price first.
Gold is the most acceptable and most popular of all precious metals in the world. Investors put their money in gold as a way of mitigating and diversifying risks. Gold investments can be in form of gold ETFs, gold bullions, gold futures; all of which have different investment risks. Whatever gold investment one chooses; the most important and most critical of all aspects in the business is the gold price.
Gold Prices have continually varied throughout history
Gold prices have continuously varied throughout history. Between 2011 and 2013, there have been dramatic fluctuations in gold prices. These fluctuations were mostly driven by the demand and supply dynamics; including demand-based speculation. The policies of The International Monetary Fund, global central banks, the value of The United States’ Dollar, Global wars and invasions and the general global economic atmosphere have equally impacted on gold prices.
What is the price of gold today?
The price of gold today is a little up. It recently gained strength, trading at $8.70 per ounce. The gold spot price in New York currently lies at $1.335.30, though the values are subject to changes brought about the demand and supply factors. (July 10, 2014)
The gold rate in India of gold carrying between 99.5 to 99% purity levels have added between Rs 50 apiece to Rs 28,730. Another increment has been that of Rs 28,530 per ten-gram- gold, gaining Rs 620 in previous three sessions. However, the sovereign stayed flat at Rs 24,900 per an eight gram piece in restricted deals.
Because investors are seeking out some protection, gold and bond prices have risen as investors move money into those time-honored havens. Gold has risen to $14.90 or 1.1%, to $1,339.20 per ounce by July 10Th 2014. It nearly hit a four-month high in early trading as August Comex Gold rose from $20.20 to $1,355.50 per ounce, the highest level since March 2014. Spot gold price also leaped $17.10 at $1,344.25
The factors contributing to these price growths are the uninspiring gold trade data from China, disturbing developments in Europe and investors seeking a safe-haven amidst such scenarios. Other factors include the debt crisis in the Eurozone and the delay in coupon payments by Espirito Santo International
Price of Gold and the conflicts in the Middle East.
The political turmoil in the Middle East could have also stoked market participation in gold trade as investors keenly kept their eyes on the region. Israel’s launch of several missiles into the Gaza Strip made the region a ‘powder keg’ that is likely to spark more unrest in many parts of the Middle East.