Current Gold Prices

This USAA Precious Metals and Minerals Fund (USAGX) Review was disappointed with the home website. Not much information. USAA would rather investors call than let them answer the simple questions themselves. Most mutual fund sites are full of investment information and this will help the investor to decide if they wish to trust a financial group. Personally I do not want some salesman with an over hyped presentation answering my first questions with such a sales pitch.

The home site did give that the stock price was at $29.68 with a downward change of $0.07 and the inception date of this fund was 8/15/1984.

This fund is for investors that are looking for a long term investment for protection against inflation and for long term capital appreciation. 80% of the fund’s assets are in equity securities in both the domestic and foreign markets. The company’s main focus for an investment to occur must be in mining, exploration or processing of precious metals or minerals. Good examples are platinum, gold, silver and diamonds. Other companies that get considered are the processing of oil, coal, base metals and wood products.

The top stocks that are held by this fund are AngloGold Ashanti Limited ADR at 5.22% of the fund. Impala Platinum Holdings at 4.99%, Randgold Resources Ltd. ADR at 4.97%, Newcrest Mining Limited at 4.46%, Goldcorp Inc at 4.40%, Yamana Gold Inc at 4.28%, IAMGold corporation at 4.14%. There are a total of 58 different companies that this fund has invested in. the top ten companies make up 44.38% of the total assets of the fund.

With the current gold prices just under $1000 and a one year return of this fund at 32.76% this USAA Precious Metals and Minerals Fund (USAGX) Review is positive despite the web site’s lack of information.

Just how high will current gold prices go, no one knows. But if history is to repeat itself then the price of gold is high do to the fact that people are worried about other forms of investment. Gold has and will forever have some value no matter what the economy is doing. This is because gold is an item and not just a piece of paper like stocks.

Gold has reached the $1000 barrier before and will again, but as soon as the recession starts to show signs of giving way and the economies of the world recover, investors will take their money out of gold and reinvest in other areas.

There have been economist and U.S. governmental representatives that have been saying the country is out of recession, but the unemployment rates are still climbing and the orders are not being placed in the factories, so they must be kidding themselves. The rest of us, including the investors in gold have not been fooled. Wishful statements will not take this country out of recession.

What will help is to take the tax payers money that was given to the banks back. So much is unaccounted for and when the bonuses were announced after so many banks received the tax payer’s money, we all know that greed in the banking system is rampant and has to end.

With the current gold prices just below $1000, we all know that the recession still has its grip on the economy. How high will current gold prices go, only time will tell when the recession will end.

The Best Gold Mining Stocks 2009 by top performers as compared to stock prices are Agnico-Eagle Mines Ltd with a stock price of $72.77. The second highest stock goes to Newmont Mining Corp. with a price of $47.21. The third goes to Goldcorp Inc with a stock at $42.98. The fourth is Barrick Gold Corp. with a stock at $40.65. Fifth is Compania de Minas Buenaventura SA with a stock at $37.76.

Deciding on purchasing gold mining stocks depends on how you chose to look at them and your investment.  Some chose to buy stock in established mining companies that hold large reserves. Barrick is the largest gold mining company in the world and is relatively stable but they still have their ups and downs. One of the downs was their investment last year in an oil company. This year they wrote it off as a loss which is why their stock dropped.

If you choose the other route and pick a junior gold mining company to invest in, then you may hit it big or not. Most of these smaller companies claim they have good prospects and all have potential but yet to be proven.

There is a gold bull market in at the present time. No one knows for sure how long is will last or if it’s just the first market to help the economies of the world finally pull themselves out of this financial recession the banks put us all in.

With the current gold prices up above $1000 an ounce, gold is still a solid investment. The present spot gold price is$1005.20, as of 10-1-09 and gold has been able to maintain this value or close for weeks now. Best Gold Mining Stocks 2009 are still Agnico-Eagle Mines Ltd and Newmont Mining Corp.

It is possible to have a gold bullion IRA account as part of your retirement portfolio. This has become legal with permission from the U. S. government, anyone can have gold as part of their overall retirement plan. It can be gold bullion or gold coins both are eligible.

The best thing about having gold coins as part of your IRA is that they hold value above the value of the gold itself at times. This is possible because all coins are of limited minting, rarity, age and condition of the coins all play a factor in their value along with the price of the gold that is in them. The proofs versions of the coins are what are legally allowed to be held by the IRS investor.

If you what gold bullion coins in your IRA portfolio it can be done. Your IRA custodian will be the one not only making the purchase of this precious metal but also holding the gold bullion in their possession. It is possible to hold gold stocks but if for any reason that financial institution closes, the stocks have no value. Holding of the Gold bullion IRS account is the safest way to invest in gold. 

The current gold prices as of September 26, 2009 are $990.70. This is where it closed for the week after being above $1000 for most of it. The gold market has hit this high mark after a decade of slowly increasing in value.

Because of the current price of gold bullion, IRA account investment would be costly, but remember Gold, unlike stocks, will always have a value.

The 1 Oz. Gold Krugerrand is presently worth $1,010.30 at 0 time GMT on September 24, 2009. This is from the 24 hour Kitco gold market chart that is reporting the fluctuations while the gold market is open and operating daily. This is possible since the spot gold market price is for one troy ounce of pure gold and the 1 ounce gold Krugerrand contains one troy ounce of pure gold. The coin itself is 22 k gold but the weight of the coin is 1.0909 troy ounces of which there is 1.0 ounces of gold along with copper. Unlike other gold coins that use an alloy of silver and copper, this coin only has copper which gives it a unique orangeish appearance.

The 22k gold coin was introduced over 350 years ago to give the coin some firmness. This is because gold in it pure form is very malleable. This is great when you want to create a work of art out of it, but with gold being so soft, the fine details will not last handling for very long.

Since its introduction in 1967, the 1 Oz. Gold Krugerrand was the prefer coin for those investors that wanted their gold investment in coins, but after the introduction of the American Gold Eagle in 1986, its favor has fallen off to the eagle.

But with the current gold prices at over $1000 an ounce, investment in a 1 Oz. Gold Krugerrand is a sound investment. The price should not stay at this level forever, but it is now and still rising.

Current Gold Prices September 21 was closed at $1003.00. This is after dipping below that magical barrier of $1000 several times. The price of spot gold has been here since last week and has not taken a correction as some expected.

In London, as the market opened, it saw the price almost immediately rise. By 9:00 GMT, the current price of gold was above $1015.00.

There are several things that will affect the gold market. One is that the American dollar is becoming more powerful. Gold along with silver and oil markets fell slightly. The Federal Reserve is meeting from September 22 to the 23 to possibly adjust the interest rates. Both of these alone will affect the gold market but then came the announcement from the IMF.

The International Monetary Fund is selling up to 1/8 of its gold reserves stating at the end of September. The statement issued by the IMF claims this will not affect the current gold market. So 403.3 metric tons of gold being sold does not affect the market, then how much would? I am not sure any one believes this.

The question is why put up so much gold for sale and who would buy it during this economic recession? The answer is China. China has long wanted to be a top world player on anything they can. With that much gold, they would become a dominate world power to compete with America and Europe.

That much gold would presently be worth close to $13 billion.

China already possesses over 1,054 tons of gold and is current the largest buyer and producer of gold in the world.

With the Current Gold Prices September 21 at over $1000, what will China do with that much gold and power that goes along with it.

Many see Gold as an Investment. This is the longest sustained form of trading medium known to man. No matter what the political or economic factors that are playing out in the world, gold will always have value.

Investing in gold can be done in a couple of ways. A person can actually possess the precious metal or hold a certificate of account. For most, placing the gold in a safety deposit box is protection against the financial institution going broke and the certificates becoming worthless.

Gold can be in several different forms when purchased. The most recognized is the gold bar. These can come in a variety of sizes but are generally either 12.5 or 1 kg. When gold is in this form, they can be exchanges in a bank for cash.

Gold as an investment can also be done in coin form. The most recognized is the South African Krugerrand, but the Canadian Maple Leaf and the American gold Eagle are gaining in popularity. Each of these coins contains one troy ounce, but is valued differently depending on where they were minted.

The GETF or Gold Exchange-traded funds are the stocks of how gold are exchanges on the open market. There is not an efficient way to transfer gold physically so deposits are kept and paper given to represent the gold that is being exchanged.

One of the better bank accounts that involve gold is the Swiss gold accounts. Gold can be bought and sold instantly and transactions are just like that of any other currency.

If you are to look into gold as an investment, it would be advisable to know the current gold prices. As of today it is still above $1000 an ounce.

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 8^th. 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.

Learning how to invest in gold properly is a tricky proposition. The best quality of gold is that it will always have some value no matter what happens on the local or world market.

Bartering for goods was the first way things and services were paid for many years ago. At some point in time many thousands of years ago, man liked the way gold looked. Its shiny character was admired and men wanted to own it. Procession of gold meant the person had wealth. As time moved on, coins were made for the different weights of gold to make exchanges easier. On today’s gold market, pure bullion gold is sold on 1 ounce increments.

There are mutual funds that purchase gold like the SPDR Gold Trust ETF. This makes it possible for investors to buy and trade their gold stock without having to actually possess the gold itself.

Many countries around the world are still minting gold bullion coins. There are several that are of pure gold while others are only 90% gold. The pureness of the gold content in the coin is one of the factors that determine the price. Another is form where the gold coin is minted. The American gold eagle has the same gold content as other coins, but is sold at a higher price.

One of the oldest ways to invest in gold other than raw nuggets is to buy gold jewelry. This is sold by karat. 24K is pure gold and not many jewelers work with it. The most common is 18 K. This is ¾ th pure gold.

No matter if you know how to invest in gold or not, by owning gold, you can know the value by looking at the current gold prices on the gold market and know its worth.

To fully understand the current gold prices and inflation, one must understand the two and how they relate to each other.

The current price of gold is what investors are willing to pay for one ounce of gold. This is set by the gold market. This is a publicly traded market where people from around the world buy and sell gold. This market is open for 5 days a week and runs 24 hours a day during that time. As more investors buy gold, the price goes up. When a majority of those that are holding gold start to sell their gold stock, the price begins to drop. The balance between buyers and sellers is what regulates the price.

Inflation by what most people think is when the prices of goods and services are on the rise. While this is the affect of inflation, it is not the definition of inflation. Inflation is when the money supply is increasing faster than the goods and services availability that are being paid for with money. When there is plenty of money around and few things to spend it on, then the price of those items will increase. Like everything, the economics of supply and demand regulate prices. The larger the supply of a currency there is the less the buying power that currency has.

The current gold prices and inflation is all tied to the U.S. dollar since the gold market is traded in dollars. The dollar is relatively stable and most economists believe that a slight rise in inflation is good for all economies. So as the current gold prices and inflation rise together, this can be seen as a good indicator that the economy is starting to recover.