"Do you think gold prices will continue to rise?"
We recently received an inquiry via social media asking, “Do you think gold prices will continue you rise?” You can never be 100% certain if gold prices will continue to rise. I think that is a crystal ball type vision we all which we could have.
It is interesting to note the trend of gold from the 1970s until today. Between 1934 and 1971 the price of gold was effectively set at $35 per ounce (refer to 1933 Executive Order 6102). Using that set price as a starting point for analysis, and the all-time high price of $2,067.15 per ounce achieved August 2020, a price appreciation of approximately 5,806.14% can be deduced for gold. As a comparison, from August 1971 to August 2020, the DJIA had appreciated in value by 3,055.19%, underperforming relative to gold. As always, past performance does not predict future results, but it is data like this which has the World Gold Council, education and financial authorities recommending gold be part of a well-diversified investment portfolio.
If you are interested in speaking with someone about how to get involved in the physical precious metals market, give us a call or start a chat. We love to talk metals! Call 800-310-6126 , or chat via our online store at www.firstgoldgroup.com.
Gold spot: https://www.firstgoldgroup.com/gold-charts,
DJIA stock price: https://www.wsj.com/market-data/quotes/index/DJIA/advanced-chart
Photo by: Nicole Avagliano on Unsplash