Future of Gold
Let us take a closer look at what was the situation a decade ago. We are all aware as to how the price of gold was reaching heights post-summer in 2007 and back in 2008-2009 during the banking crisis, gold continued to boom and reached peak in 2011 and during these times the price of gold had doubled, but following a peak in 2011 trading and investment switched from bullish to bearish. A globally observed phenomenon in the investment sector pertaining to investors, capitalists, depositors, financers as it will deem fit to be an asset far too expensive and accordingly lose interest or wait for an opportunity with something that is undervalued.
In the year 2015, the gold market had touched the bottom line and in less than a year in 2016 picked up the pace due to economic and political uncertainty and challenges contemplated globally. The graph kept achieving greater heights and at one point it had become monotonous during 2017 amid the ongoing tensions between nations over nuclear missile testing, and then there was a boom for cryptocurrency. Summer 2019 saw gold prices climb to new all-time records in many currencies.
Early 2020 created little uncertainty with the outbreak of coronavirus in Wuhan (China) left everyone distressed. With the pandemic and global lockdown affected and caused turmoil in the market. US is the most powerful nation was terribly affected, giving an impression to ponder about how other globally weak economy might be dealing with the pandemic crisis. In the last few months, the Gold price has shown different shades by reaching different heights; from reaching positive gains, sometimes surpassing the resistance, losing its gains, and the other times reviving again. There are no guarantees assured whether this trend will continue.
The graph of gold going up would certainly not imply that it will keep going up for months to come by. The investors, regular dealers, individuals are advised to conduct their own research, take financial advisors opinion, acquainting with updated news, information and current affairs will make a person learn the importance of these simple yet bigger factors affecting the pricing of the gold and can help them choose accordingly with these developments.