Today, gold rate per ounce in the international market crossed and closed above the level of $1150.
Will this rate keep climbing to reach $1200 per ounce level?
There is some mix opinions regarding the future. Most of the experts believe that the price of gold is likely to increase further in the upcoming days: where some experts believe that quite soon, the gold price can fall back strongly.
In whose predictions will you believe in?
I guess we cannot say who is right and who is wrong at this point. Prediction of gold price or Stock Markets or of forex currencies is quite impossible. In few scenarios like major political events or something like that: one can expect to see a drop or increase in the said businesses: but under normal circumstances, predicting the future values of currencies/gold/shares etc is not possible.
Anyway, let us wait and see where the gold price will go from here. It can stabilize at this level for sometime or it can start to increase or it may start to decrease: no one knows for sure.
This is why we call gold trading as one of the riskiest businesses of all.
