Value of Gold Reaching Record Levels
Gold prices rise as value of the USD decreases further
The value of gold increased dramatically in the last two weeks whilst the value of the US Dollar simultaneously decreased. This has continued the trend of investors favouring this precious metal due to the relative stability of its prices and steady rise despite economic problems. Gold has long been considered a favourable investment over the US Dollar as gold prices have historically not fluctuated as much as USD and is less effected by the macro economic environment.
In 2009 gold bullion value rose around 24% as low borrowing rates made the US Dollar drop by 4.2%. In comparison, gold seems a much stabler investment. Gold Futures int US in April rose by 1.5% to $1,122.50 an ounce under the Comex exchange in New York.
The rise in the price of gold is making people consider whether now is a good time to sell gold
Reports suggest that investors in Europe are continuing to buy gold instead of holding the Euro as it is seen as a more stable investment. Gold prices in Europe reached record levels on the 5th of March.
