Since the turn of the century, the amount paid per gram or ounce of gold has inreased dramatically. This has meant that those wanting to get the best prices for their gold have continued to do well.
2016 has seen a strong growth in gold prices campared to last year, but it is unknown whether the price of gold will continue to increase, so to make sure you get the best prices for your gold you should look to cash in sooner rather than later.
Gold prices fluctuate regularly depending on the economy. However did you know that other factors can also bring the price of gold either to a soaring high or a big drop?
Gold prices are often high when things are uncertain politically or financially. With the uncertainty around the US election, investors are looking at gold as excellent protection against inflation as its value is less sporadic than that of mainstream currency. This increased emand has been pushing the price up.
Gold prices can be checked any time of the day and are fixed twice daily in London. The latest figures can be found at www.goldfixing.com.
War or political unrest: Gold reached a peak price of $850 in 1980 when the Soviet Union invaded Afghanistan. Want to avoid being broke in the event of something like the Wall Street Crash? Buy gold and keep it very safe. Because the price of gold has always been high (even though fluctuating) many financial giants built up their fortunes investing in it, and why not.
The value of the US Dollar: When the US economy is booming and the value of the US Dollar is strong and stable, gold prices drop and stay at a comparatively low level. However, when the US Dollar suffers as it has done since 2007, gold prices rocket as it is seen as more of a vital commodity with regards to investment. Selling gold and silver couldn't be more profitable right now. Just make sure YOU get the profit, not just your gold buyer.
Demand: The Asian and Chinese markets are the biggest in the world, when demand is high in China or India, gold prices rocket.
Interest rates: Gold does not accrue interest, so when interest rates rise, people are more likely to hang onto their money.
So, don’t forget to check your gold prices twice a day and get the latest information on the industry in general here on goldpricechecker.com. We help you compare cash for gold companies so that you can get the best deal and information on the web.