You can now find the most recent gold prices easily by simply looking at the financial section in the newspaper or listening to the local news station. This information wasn’t always available because the investment of gold was not popular for 20 years. The reason is that the gold and silver prices has not changed or been falling since 2001.
Since 2001, gold’s popularity as an investment has grown. This has caused the price per troy ounce to steadily rise. You can see why people are seeking ways to add gold to their portfolios, as it has now reached over $600 per ounce.
Depends on Dollar’s Strength or Weakness
Prices for gold bullion are often directly linked to the strength of the United States Dollar. As a result, investors and speculators are constantly looking for ways of buying this commodity. It is true that many people have made huge amounts of money by investing in gold, but it is important to realize that gold may not always be a sound investment. Gold is considered a static investment because it does not earn any interest and its quality is fixed.
The price of gold bullion will fluctuate according the value of the paper being made. This is something you can always count upon. This means that buying gold is not a great investment but a protection against a weakening currency.
If you think along this line, it is likely that the currency you use to purchase gold will be less expensive each time it goes up. Even more alarm should be raised when the price for gold reaches its maximum level. For example, today’s price of gold is over $600 an ounce. This price can be compared with the $20 it received in 1934. According to this thought, the strength and stability of the United States dollar has declined significantly in the last 77 years.