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Why Gold is the Best Investment out there
For many years, the value of gold has been in a steady climb. Going from $285 an ounce in Jan. '02, to a $920 high it reached in Jan. '08. Thats a 327% climb in just under 6 years. That is amazing.
Gold is the only worldwide accepted measurer of value. In tough times, fiat money can suffer drastic volatility of ups and downs if there is an issue in the underlying value of the currency, which is basically the country it originates from's integrity. Here are 5 reason why Gold prices will continue to climb for the foreseeable future:
#1 The United States dollar will continue to de-value. With the federal reserve concerned about the economy, and trying to prevent a recession, which by the way is a natural occurance in any economic cycle, the dollar has very little room to gain strength. They continue lowering interest rates meaning foreigners will not want to hold US currency.
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#2 There are continued Worldwide feuds, especially in the Oil rich areas of the world. It is well known that Gold prices closely follow the price of oil. It is also known that worldwide feuds, wars, and political uncertainty will increase the value of gold since people hold it in uncertain times. Combine the fact that the Oil prices threaten to go up because of the feuds in the Middle East, and you get the formula for Gold to remain hot.
#3 Many governments are now trading in those once strong US dollars they had in their reserves for the now more reliable gold. Remember, money grows on Trees, quite literally (trees are what are used for paper, meaning the government can print as much of it as they like), while gold is a limited resource, that is scarce.
#4 China and India are growing at rates we have not seen in decades. These two economies value gold more then anything else. From jewelry to a store of wealth, Gold plays a major role in the economies and lives of people in Southeast Asia. Remember that India and China combined have populations almost equal to all the people in the rest of the world.
#5 If you look at the price of Gold back in 1980 and adjust it for inflation, you would get a value of approximately $2000 in 2007/2008 US dollars. Considering that the uses for gold and the number of people interested in gold have increased dramatically since 1980, we could have a long way to climb.
I predict that we will see gold prices in the $1500 - $2000 range before this decade is complete. It won;t be a fluke run of either. I believe the prices will remain at those levels for years to come.
About the Author
Previous owner and now manager of: http://www.talkgold.com/forum and Making Money Online Discussion |
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