Weekly gold market review 26.11.14
At the beginning of November, the situation in the gold market reminded the one in the 90s when the "gold bugs" made their fortune. At that time, many people began to lose their belief in the yellow metal due to falling prices and stopped buying gold. These "gold bugs" believed that the price of gold would highly rise and it happened.
During November the price of gold fell again, and it was obvious for gold mining companies that their business would not be profitable anymore because the cost of the production was higher than the market price of gold. This means that either the prices will soar, or the production of the yellow metal will stop. It will still result in the increase in the price of gold.
According to the results of mid-November, gold prices were between $ 1,148 and 1,188. The reason for this could be the last increase in the dollar and the US stock market.
However, according to Rica Rula an expert in investing, the situation in United States is not as good as it is shown by the media. They do their best to make the people believe in the economy of this country. The expert thinks that the US dollar will be stable only while people believe in it. When people realize that the dollar is weak, the currency immediately will lose its game against the yellow metal and the price of gold will sharply grow.
Currently the demand for gold is still very high. The strong demand for physical gold is not only in Russia and China. By the World Gold Council, the role of the yellow metal in the world market will only increase due to the modern technologies. Today gold is used in many areas of life, including industry and medicine. The demand in these areas increases every year, which means that the further development of technology and medicine will support the price of gold.
According to the latest data, the price of gold was stabilized in a a narrow range of $ 1,187-1,208 due to low activity during the Christmas holidays in USA.
To buy or not to buy gold, that is the question. According to many investors, the global economy has already passed the point of no return. They claim that a growing trend will continue for a short time. This means that soon people will turn to gold as the safe -haven asset to preserve their capitals. This will greatly affect the price of gold and it will begin its rapid growth.
According to experts, today the economic situation in the world is very strange and unusual because there were not so long periods before when the debt of the developed countries was so high. It does not give the balance to the world economy. Investors are looking for alternative assets with low risk and great prospects. Now this promising asset is gold.
The most forward-thinking clients of Emgoldex use this moment and the experts' opinion. They preserve their capital in gold and get a high stable income through the marketing program of the company.
To buy gold, visit the company's online store:
Share this important information with others so that more people will learn about the great opportunity to preserve and increase their capital by buying gold in the online store of Emgoldex!
Category: Gold news Publication date: 2014-11-27 10:25
|Gold Fixing | Price History|