Is Gold A Great Investment Right Now
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In the end, it might seem that this disaster is 1 of high unemployment and extremely low development for the foreseeable long term. These issues are not good for gold. It may really flip into a drop to $800 an ounce. But there is an upward price trend for gold that is based on solid fundamentals. Gold traders didn't make any complaints. More than that, since the Greek crisis started, there is a huge improve of physical need in gold. On a medium and lengthy term, the yellow metal stays a safe-haven.
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We saw the exact same reaction with gold. Gold is considered a safe haven and when the crap hit the enthusiast, individuals rushed to gold. We saw the cost of gold climb over $120 in much less than 48 hours - the greatest increase in the background of gold. Trust in the general monetary system was in doubt, and the implications had been profoundly unfavorable.
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