02252020What's Hot:

Is Now the Time to Buy Gold?

The U.S. dollar’s 10% drop in value so far in 2017 and investor concerns that the stock market is running out of steam helped lift gold above $ 1,300 an ounce for the first time this year on Aug. 18, before the precious metal pulled back about $ 15 an ounce amid apparent profit-taking, said Rich Checkan, president of Rockville, Maryland-based Asset Strategies.

Investors interested in buying gold or especially gold coins should not be deterred by the market’s intraday retreat from $ 1,300, since the same causes that led the yellow metal to cross the $ 1,300 threshold remain intact, Checkan said. The U.S. dollar still is weakening and thereby losing purchasing power, while gold is an alternative asset that should hold its value or appreciate in response, he added.

To read the rest of “Is Now the Time to Buy Gold?”, please go here.

Source: Human Events

comments powered by HyperComments

More on the topic