We have been hearing about the rise in gold prices from past many years. The market has been burning high with the news related to its increasing price. Looking at the present market scenario it can be clearly stated that in future also the price of gold will not see any relaxation in its hike. On the contrary it will keep on mounting thereby making this yellow metal the most treasured possession anyone could have. Reports have stated that it is the right time to invest in gold as this would help a lot in future.
As per the recent reports Central banks that were net sellers of gold a decade ago are heard to be buying the precious metal to cut down their dependence on the dollar as a reserve currency, which ultimately signals towards the rising demand of gold that may expand a record convention in prices. It is even estimated that as developing countries speed up purchasing gold, the price of it might reach to $2,000 this year.
Euro Pacific Capital’s Michael Pento, who from the past two years has been correctly predicting the price hike in gold, has forecast a 2011 high of $1,600. Furthermore, reports have even stated that that the gold prices attained a record 14 times this month. The reason behind this has been stated to be the demand from investors who had been looking for a substitute to the dollar after the currency bended to the lowest since 2009, US debt widened, and the Federal Reserve signaled on April 27 that borrowing costs will remain near zero percent for an extended period. The economy in China, the biggest foreign holder of US Treasuries, grew 9.7% in the first quarter. It is even estimated that in the near future China is out to have more gold than America, and even Russia is aspiring for the same.
This has increased the craze among all to invest more and more in the precious metal so that they can be benefitted by it in the near future too. The estimated reports clearly point out towards the growing demand for gold and gold jewelry which would automatically turn out to be the most priced asset of the individuals who will own them.
Trade experts too suggest that the present phase is the right time to make your investment in gold and gold jewelry. If you opt for purchasing at this time, chances are bright that you will be able to cash on its price hike in the near future.
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