Why gold will make you rich

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There are so many articles regarding gold as a financial investment, and the plain truth is that if you hold on to Gold as a means of investment, you will never be poor.

IMPORTANT FACTS TO KNOW

Gold has held a special place of actual and symbolic importance for humans from ancient civilisation, from the Egyptians to the Inca.
In addition, gold has been used as a medium of commerce, a store of wealth, and as precious jewelry and other artifacts.
Gold’s worth is ultimately a social construct: we all agree it has been and will be valuable in the future.

Why Gold Always Had Value Till Today

Some claim that gold has no intrinsic worth, that it is a barbarous relic with no monetary value. They argue that in today’s economy, paper currency is the preferred medium of exchange; gold’s main value is as a material for jewelry. Those who argue that gold is an asset with various intrinsic attributes that make it distinctive and vital for investors to retain in their portfolios are on the other end of the spectrum. They feel that there are as many reasons for investing in gold as there are vehicles through which to do so.

The Historical value of Gold

Looking at previous gold prices could provide useful information for making purchasing and selling decisions. In the big picture, gold has been trending higher for many years, reaching all-time highs of about $2000 per ounce in 2011. Since then, gold has been falling, but it may have reached a bottom in 2016. Gold’s falls from 2011 highs could simply be a pullback inside an even longer-term uptrend, albeit that remains to be seen. Examining past gold prices may be beneficial in identifying probable locations of price support to purchase at. If gold has fallen down to $1200 per ounce on several occasions but has been met with strong buying demand each time, the $1200 area might be regarded a level of support and a good place to try to buy.

What has caused the gold price to fluctuate?
The price of gold has been influenced by a variety of variables during the last several decades. Central bank buying, inflation, geopolitics, monetary policy, equities markets, and other factors may have caused huge price fluctuations in gold’s history.

Currency values are one of the most important factors influencing gold prices. Because gold is valued in dollars, the value of the greenback can have a big impact on its price. A weakening dollar makes gold less expensive for overseas buyers, potentially driving up prices. A rising dollar, on the other hand, makes gold more expensive for international buyers, potentially reducing prices. Fiat currencies, often known as paper currencies, have a propensity to depreciate in value over time. If this continues to be the case, gold may continue to rise as investors seek it out for its perceived safety and potential as a hedge against falling currency values. Gold has always been seen as a safe haven for wealth and value, and this is unlikely to alter anytime soon.

Although previous performance is not always indicative of future results, gold’s price history may provide some insight into its future direction. Looking at historical price data, for example, can aid in the detection of uptrends and downtrends. Investors may also be able to identify tradable patterns in the price data, which could lead to profitable buying or selling opportunities.

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