Gold prices are at record highs right now. With gold inching towards the $2000 per ounce, there’s huge amounts of speculation about just how high gold prices will actually go. Some forecast gold reaching the $2000 per once mark while others claim that the gold prices today are simply unsustainable and will come crashing down.
Why are gold prices so high right now? With the US economy (the entire global economy arguably) in the trash can right now with property prices falling and the US dollar dropping like a rock, people are seeking SAFE investments. Stocks are not a sure bet and other forms of investment are shaky. This makes gold, a historically “safe investment”, a popular investment as people flock to put their money in something tangible. Unlike stocks, gold has inherent value to it; even if the price of gold drops, you STILL will have something of value. If stocks or other investments collapse, you are left holding worthless paper.
Should you invest in gold? Right now gold is at a high, but there’s a good chance that it will keep rising higher in this unstable economy. Make no bones about it: gold WILL fall at some point. The question is WHEN. With the economy as it is, it’s a fairly safe bet that gold will continue to rise for the next year or two.
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