When Gold hit $1,432.57 USD on March 1, 2011, the classic metal proved how resilient it has become despite the fluctuations of the modern markets, peaking at 1,913 USD on August 23 that same year.
Now hovering comfortably above $1,200 an ounce, Gold if anything is becoming more reliable, resisting bear market style forces despite some heavy selling in US and Asia markets.
Trading in the New York Mercantile exchange closed at $1,237.50 USD on Friday which overall represents a healthy 17% rise in Gold prices since January 1.
“No other commodity enjoys as much universal acceptability and marketability as gold.”
– Hans F. Sennholz
With Australian stocks following global trends in 2016 and showing continued elements of uncertainty – yield bearing assets, cash and company stocks have been passed on thanks to the continued strength of Gold. However threats of interest rises in major markets, from Australia to Europe, could potentially threaten the strength of Gold pricing but with investors remaining risk averse it is unlikely that precious metals will drop significantly in the near future.
Recent US Economic Data has been positive which could threaten volatility in the Gold Markets if investor confidence increases. Some days have proven this with Gold shifting up to $30 AUD in price per day, but despite some predictions the metal has not dropped below the $1,200 USD mark.
But as the old saying goes, Gold will always have value, paper money will not.
Despite this truism, here at Pawnbank we will happily trade you some paper money for your Gold, with cashngold.com.au allowing you to trade your precious metal online.