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With the price of gold going higher and setting new records is it still a good material to invest. Even though the American government has the power to lift the economy up within months, there is no significant sign of the economy rebounding anytime soon hence the rising price of gold and gas. I want to buy gold in hopes of it make me a profit but am still double minded especially because it is so expensive and the price could drop. From my research though, the price of gold has gone up consistently in the past 8-9 years in a row. Will the price of gold go higher? If the price of gold DOES go higher than how much and about how long? What factors determine the price of gold (what effects does the price of gold have)? Thanks for anyone who replies and please serious responses only. Remember best answer is 10 points. Stay away from gold as the price has gone up too high. It being bought less now due to the high demand in price and will go down in price this year. I would suggest investing in a oil company, but make sure it has a good history. My opinion, yes the price of gold will continue to go up. While the value of the dollar continues to drop, the price of gold goes up.For every dollar that's printed there has to be gold to replace it. So the value of the dollar is down, therefore more has to be printed,so gold prices rise. My husband keeps up with this kind of info. Maybe I can give you more later. Hope this helps. And yes I would say if you can afford to invest in gold that would be a wise decision. Personally, I would be very careful with gold. Historically, It is a terrible long-term investment. Think about it, in 1980 it was sitting at $850 per ounce. 28 years later, it has gone up only 17% . |
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