Gold reached new heights this week. The valuable metal priced at over $1,300 per ounce. This is the highest peak in 2017. Why did this happen and what could it mean for you?
Gold Safe Havens
First, a bit of a history lesson. As investments go, investors consider gold to be a safe haven. That means that as situations become more uncertain, people look to buy it. Its intrinsic value indicates that your investment will always have worth. Governments can fall, wars can break out, but it will still have value. That is where we are now, with gold mentioned again in the context of uncertainty, which we have plenty of today.
Geopolitics to Blame
Recently, North Korea fired missiles over U.S. ally, Japan, toward a U.S. territory, Guam. Not one to be outdone, President Donald Trump issued comments in response, “All options are on the table.” With these two leaders threatening violence and retaliation, the citizens of the world have uncertainty in spades. This is one of the largest drivers causing investors to seek their safe haven.
Meanwhile, American economic policy is leaving interest rates and the US dollar in a weaker position. This, also, is a common motivation to buy safe haven investments.
What Does this Mean for You?
Presently gold is selling very well. We are in the business of buying your gold. Therefore, you could have quite the payday coming up after selling your old golden jewelry, watches, trinkets, and more to us! Find our location nearest you at our website!Share