Current Gold Prices over $1000
With the current gold prices over $1000, when will the ride end? With the close in NY at $1012.30, the roller coaster ride is still in its upward climb.
Twice this year the $1000 level was approached but it never broke the plane until September 8th. Like all roller coasters it dipped below for 2 days then back above for a day then below for 2 days. Now for the third consecutive day it has remained above $1000.
Looking back at the price of gold since 1975, the highest price obtained has been when it was near $750 in 1979 and it did not reach that level again until 2006. The current rise has been the longest sustained rise in the last 35 years of the current gold market. If a market correction is needed only time will tell.
Since the current economic recession has hit, the gold market has steadily climbed. It has been a rocky road but gold will always have value, unlike paper stock that can be worthless overnight. Because of this more and more investors have trusted their investment dollars in gold.
In time the stock market will be a safe haven for the investor, but at present, the only sure bet is the gold market with current gold prices over $1000, there is money to be made. Just be ready for the correction. If and when it happens, it will be sudden.
But with the current gold prices over $1000, your investment is in hard currency and safe. It is not time too jump ship just yet.