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How Long Will The Price Of Gold Keep Rising

How Long Will The Price Of Gold Keep Rising

Similar to all investments and commodities, the current price of gold is in the end driven by supply and demand. A lot can be learned by understanding what the rising dollar price of gold means. Gold has been steadily going up for years now and whether it will continue its rise is a question many people would like to know.

Thousands of years ago, gold and gold items were buried with pharaohs to use in the afterlife because gold is free from corrosion or decay. Gold and silver meet that test while paper money does not. Today, gold investment is seen as attractive in times of economic uncertainty and oilled inflation. Gold is really the only viable alternative to the dollar. Gold is bought and sold in dollars, so any decline in the value of the dollar causes the gold prices to rise. Also, any sharp decline in stocks often bodes well for gold as that is a safe haven.

Instead of concentrating on the dollar price of gold, one might wonder about the depreciation of the dollar. Never let it be said that higher oil prices and profits cause inflation. Inflation of the money supply causes higher prices. Gold prices are surging which reflects the dollars devaluation and is warning us to pay close attention to our fiscal, monetary, and foreign policy. When the gold price rises sharply against a countrys currency, as it has against the dollar, it points to trouble ahead for that countrys economy and monetary policy.

Accurate predictions for the future price of gold are an exercise in speculation. Should the the price of gold burst through the $1,000perounce barrier, many experts predict it could reach higher records and even double. The weakening dollar and troubles in the financial markets have driven current price of gold to record highsand it might be headed to well beyond $2,000 per ounce.