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Why does the price of Gold matter? The price of Gold is normally a good indication of the strength of economy and when everything is handy dandy: Gold stays low but when governments don't do their jobs right, the price of gold goes up and as we all know, price of gold has been going up with no sign of slowing down. Arguably Gold's biggest role is as a sentiment barometer. A high gold price is an indicator that all is not well with the global economy and guess what economy has not turst at the moment. It could be bad news if you are looking for an engagement ring or another piece of jewellery. Higher prices are likely to be passed on to shoppers.On the other hand, it could be good news if you have gold that you no longer want and could do with making some money.The rising price has seen an explosion in "scrap gold dealing" - where High Street shops and postal companies will offer to turn the gold into cash.We should not get too carried away, however. When inflation is taken into account, gold is half the value it reached in 1980 in real terms, when it peaked at the equivalent of $2,350.
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