Gold recently surpassed the $1000 mark but since has had a remarkable fall back from that high. With the markets in America still in turmoil and no one really knowing if the dollar is going to recover, do you think gold is still a buy at it’s current price of just over $910 an ounce?
I guess the better question is, will the worldwide demand for gold continue in growing nations while the dollar and American markets continue to weaken? For the most part, that’s a guessing game and the precious metals market, which was once a safe haven for your money in a weakening economy with a weakening dollar, is now just as volatile as every other market out there. So whether or not it’s a good buy is up to you.
Will it go back above $1000, most likely. But don’t take our word for it, do some research and find out for yourself.
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I think it’s still a buy for the most part, BUT I’m holding off for another drop. If we see $850 I’ll pick up a couple ounces. Not sure why that’s my magic number…. just have trouble spending $900 for an ounce of shiny yellow metal
However I think there’s plenty of upward movement left. The US economy is far from out of the woods.