Gold is at an all time high. Is it too late to buy gold?
Gold at All Time High
- Gold prices hit a new record high of $1,970 per ounce.
- Gold prices: $63 (RM268) per gram (1 troy ounce = 31.10 gram).
- Analysts predict gold can go above $2,000 per ounce ($65 per gram).
Why Gold prices rallied
- Perceived safe haven during times of economic uncertainty and crisis.
- Lowered currency values with expansive monetary policies (re: governments printing money).
- Lowered USD with interest rates cuts driving investors to gold and emerging markets.
Other Precious Metals
- Silver prices have also rallied to $26 per ounce ($863 per kg).
Gold Movement Impact
- Precious metals miners and jewelry stocks gains.
- Physical gold price gains.
- Gold ETFs and funds price increase.
Should you still buy gold?
- Retracement expected with indicators signaling overbought although long-term trend still intact.
- Gold can be a form of alternate asset allocation and hedging.
- Consider buying gold in small regular amounts instead of a lump sum gold investment at high prices.
For educational purposes only. Not to be taken as advise.
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