Precious metal experts have been speculating a lot about the price of gold this year. Not so long ago, it was hard to imagine that we would be talking of gold reaching the $1,400 mark but we are definitely now at a point where we are thinking that maybe the price of gold in 2019 can reach upwards of $1,700/oz.
People have always turned to gold during unstable political and eco.... Different countries are dealing with various crises. The UK is dealing with Brexit, Venezuela's currency has collapsed, the Turkish lira is struggling, the Chinese economy is slowing down and the U.S dollar is weakening.
A lot of countries have currencies that are pegged on the U.S dollar but with things stand in America, some countries are contemplating a break from a U.S dollar supported financial system and turning to gold. The rhetoric that has been coming out of the world's superpower nation and the stance that President Trump has taken with regards to Iran, NATO, Russia and various trade pacts have a lot of people worried about the future. Trump took over and right off the bat, he created a toxic atmosphere in America and the rest of the world Trusts the U.S less than it ever did. Because of all this, gold has come into the spotlight as an important hedge of wealth for anyone who wants a secure financial future.
What can we expect from the price of gold in 2019
Gold has already risen significantly during the first half of 2019. As global currencies weaken, people are turning to gold to ensure the safety of their savings. Governments and their central banks are also turning to gold to support their countries' economies. The demand for the yellow metal has definitely risen and this has stimulated its price. Economic analysts expect the price to keep climbing in the next couple of months.
Is this the best time to buy or to sell bullion?
The current global monetary policy have made gold increasingly lucrative. The weakening dollar, the escalating geopolitical risks, rising inflation and the currency crises in a lot of developing nations have had a positive effect on the price of gold but they have had an opposite effect on the cost of living.
If you have gold in any form and you are struggling to make ends meet, this might be a good time to consider selling your gold. The great thing about gold is that it does not matter how old it is or how damaged, the value is the same. Gold buyers who offer to buy gold in any condition, sell your gold to refineries who remove any impurities from it to produce the fine gold they sell to mints, jewellers and other manufacturers who use gold in their products. However, not all the gold that is sold to gold buyers is treated as scrap. Some gold like coins and bars are bought and resold to collectors.
This is a great time to cash in on your gold if you need cash, but it is also a good time to invest in gold to keep your wealth or savings safe from financial crises and collapsing currencies. Financial experts have been advocating for more investment in gold. According to them the growing demand for gold and the gradual depletion of the yellow metal in the mining industry will stimulate the price for years to come so the coming decade promises to be good for anyone who wants to sell bullion.