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Thread: Investing in Gold

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    Gold prices on the rise amid fears of worldwide inflation



    Gold prices on the rise amid fears of worldwide inflation.





    The price of gold this week exceeded $1,800 per ounce, trading data shows. While global investors assess the risks of high inflation, some experts say gold prices could soon double. The price of december gold futures on the new york comex stock exchange on friday jumped 1.69%, to $1812.15 per ounce. Over the week, gold has risen in price by some 2.5%, its fastest weekly growth rate since spring.


    The popularity of the precious metal has grown as it is seen as a means of protection against high inflation, a common trend in many countries around the globe despite the assurances of the financial authorities that the phenomenon is temporary.
    Kitco analyst Jim Wyckoff, who is quoted by the wall street journal, believes gold prices “are supported by growing fears about inflation and a decline in the dollar index at the end of the trading week.” in recent weeks, the dollar has been weakening against a number of major world currencies, in particular, the euro, the yen and the yuan, while the dollar index has dropped by 0.2%, to 93.58 points.


    “Experience shows that ‘hard’ assets such as precious metals are becoming more popular as a hedge of inflation,” Wyckoff stated. Meanwhile, industry insiders think gold prices could potentially rise further, likely following the lead of other major commodities, like aluminum and natural gas, as covid-19 pandemic aftershocks continue to frustrate supply chains.


    According to the former chiefs of canadian gold mining company goldcorp inc., David Garofalo and Rob McEwen, global inflationary pressures are not as transitory as central bankers and consumer price indexes suggest. When investors realize this, it could propel gold prices up to $3,000 an ounce. “I’m talking about months. The reaction tends to be immediate and violent when it does happen. That’s why I’m quite confident that gold will achieve $3,000 an ounce in months not years,” Garofalo, who now heads Gold Royalty Corp, told Bloomberg. He noted that because gold is a universal asset and has a some 4,000-year history, it is better positioned than, for instance, cryptocurrencies as a hedge against an inflationary environment. McEwen noted that the post-pandemic global monetary and debt expansion combined with supply disruptions will inevitably lead people to traditional methods of protecting their capital, with gold the leading choice.


    gold prices on the rise amid fears of worldwide inflation ...

    https://www.rt.com/business/538255-gold-rising-inflation-fears 24 X 2021.









  3. #23
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    Many of us live our lives so differently than others. Most of us who have worked hard all our lives, do not have much to show for it. Sometimes because of the way of the world nowadays and often the work we do doesn't pay more than making it payday to payday.

    There is no shame in this way of work, once I take a look at my way of LIFE. Minimalist, heat, cook, etc without the need for the grid. Living in a place I would not be sad to die in. If they "came to get me" or "come to force the needle", I know the work I have done was to help others in dire straits rather than be more like some other people I know. I am nowhere near angelic, but I am ok with being considered 'poor'. My LIFE has been rich with friends and strangers alike.
    So, gold and silver will not be in my future, but my knowledge base is enough to barter and even save a life if need be. Medical experience can be priceless, or at least worth gaining a new bartering friend. For those of you who can afford gold and silver, more power to you. Get it while you can. It just has not been my lot in life..

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