On 28th of July 2010, gold price has dropped more than 20 dollars and has reached a four months lowest level of approximately $1162. Just few weeks back, gold had reached all time record high levels for 3 days in a row: the highest reached level was above $1260.
This is why we call this business very risky and unpredictable.
In just few weeks, gold price has dropped more than one hundred dollars.
Should you invest your money in this precious metal as its rate is now dropped quite a lot?
Yes, the price of the yellow metal has dropped 100 dollars, but we should also consider the fact that gold price in 2001 was below $300 per ounce and then in 2004, it was around $400/ounce.
I personally think that this business of investing money in the safe heavens is quite a risky thing to do. I would prefer to invest in stocks rather than Gold : )
Don’t get disappointed : ) People still make some very good money via doing this business and if you have the right skills, then you can do the same
Do lot of research: read what experts have to say about the current scenario and then decide whether you should invest in gold or not.
I feel that when we hear some good long term improvement news about US economy, this helps stocks to gain and sometimes, gold price increases too: but I have noticed that such news can make buyers forget about gold and they start to prefer investing in stock markets.
Nowadays, we hear good news about the economy one day and then some negative news the next day.
So it quite difficult to decide what would be the best thing to do in the current situation: if you invest your money in gold and then the next day, we start to see big drops in its price: then what? : )
Anyway, if you are someone who wishes to invest in gold, then it looks like you need to do lot of research in the next few hours/days : )
shahzaib ali
want to a copy paste job