The going rate for gold can change by the hour, and every country has a different rate. This can make it baffling for those wanting to buy or sell gold as you may think that a website is telling you the going rate, but it has changed drastically when you get to the checkout. The rate of gold also depends on the origin of gold, and its purity and the currency market in general.
Despite the wide fluctuations in currency, gold seems very resilient and is holding it’s own in a very erratic market. Every time the Euro drops the Dollar is bolstered, and gold prices rise. The gold market has been buoyant for quite a while now and shows no sign of diminishing any time soon. It is up 22% on last years figures, and there are several reasons gold is performing whilst currency isn’t performing well at all.
Gold bullion and silver are, quite frankly, old reliables. Once people start to lose faith in currency for whatever reason, they traditionally start investing heavily in gold and silver so inevitably the prices go up. The main reason that gold is now going to increase in value is that quite simply; our currency is no longer supported by assets. With bailout programs and stimulus money on offer, the currency looks set to decrease, and gold rise.
Although the prices are higher than they have been for some time, some people might think that they are nowhere to the record levels they hit in the 1980. What needs to be taken into consideration here are the differences in the cost of living between then and now, so the gold market at the moment is actually excellent and rate for gold superb.
This kind of surge in the price of an asset always gets the rumors circulating at the speed of light and, as with everything else, do not believe everything that you read. There were stories that major stores would be setting up stations in their branches to get people to pay for their goods with gold or silver. While these assets are much in demand, it’s unrealistic to think you can buy your purchases using a link from your necklace or bracelet.
The time is right to cash in your old gold, whether it’s jewelry, coins or the gold bars that are hidden at the back of the closet.