Tuesday, May 3, 2011

Gold Price Readings

I’ve read about some of the downfall of the economies of some of the European nations like Spain and Ireland. Somehow, even the world’s richest nations have also fallen into the economic recession and find it hard to regain the former monetary stature. That’s why many individuals now are securing their future by investing in gold. I’ve known that gold is a hedge or harbor against economic or political unrest. It is a worthy investment actually since it the value of gold does not depreciate when it comes to inflation and other crisis. Now this made me think, maybe I should invest in one.

I’ve also learned that the price of gold is set of “fixed” in London by a group of five (5) banks. In one of my readings, gold price fixing began in September 12, 1919 originally by gold bullion traders. The fixing historically took place in an office but since May 2004, gold spot fixing took place by telephone. The gold price is set and designed to provide a rate as a benchmark throughout the world markets.

I guess I have to do a lot of reading and research about gold before I can really take on this worthwhile investment and I know it’s not going to be easy.

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