Buy Gold Prices Reach $1100!
BUY GOLD prices rose to 8 weeks highs in Asian and London markets on Thursday 7th January 2016.
There were gains of over 4% as the Chinese stock market plummeted twice in 3 days following an unprecedented five-year low in the Yuan’s exchange rate to the Dollar.
Due to this the Chinese stock market was shut just 29 minutes after trading as the equities plummet enacted the 7% limit-down circuit breaker which arose in last summer’s 2015 turmoil.
Gold prices in Shanghai rose 1.7% against the falling Yuan on the strongest trading since August. The premiums over comparable London quotes rose to $4 per ounce. This was 60% stronger than the typical incentive provided to Chinese gold importers during the last twelve months.
Buying gold prices reached $1100 which was the highest over the last 9 weeks overnight. George Soros, quotes that the present market turmoil “reminds me of the crisis we had in 2008.”
Gold investment has been at the forefront of stock market investment for both experienced and inexperienced investors for many years.
Gold is seen as a luxury precious metal that is limited in supply but eternally in demand. People like to have the idea that there money is investing in a metal that is always in demand.
When the markets are going through a volatile time as demonstrated in the Chinese markets then there usually is a sudden demand to buy gold and gold prices rise accordingly.
It is also a much easier process to invest in gold as there are reputable gold IRA companies that can do all the paperwork to buy precious metals.
If you currently have a 401k retirement plan then you could look at a 401k gold rollover.
The options are there for many investors to watch the markets in not so much as trepidation but instead view any economic volatility as an opportunity to hold gold stocks.
Gold prices will increase and so will the value of your stock so now is a good a time as any for investing in gold bullion!
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