How Much is Gold Worth?
Recently in 2013, there has been some debate as to the fate of gold's prices for the remainder of the year. Some argue that the rapidly strengthening dollar is poised to outshine our precious metal, while others insist that the price of gold will remain unhindered by the recent value increase of the U.S. dollar. We might be biased, but we're siding with the idea that the price of gold will remain the same and here’s why:
- Flat mine supply: The demand of gold is rising and mines that are running low on gold are unable to meet the increasing demands of consumers.
- Investment demands are growing steadily: Harvest season is fast approaching and farmers in India have a tendency to invest in gold. Furthermore, China has seen an increase in the demand for gold for jewelry purposes.
- The Federal Reserve is expected to keep interest rates at or near zero: This has perhaps the greatest impact on the expectation of gold prices. Any indication of tapering would be considered a game changer for gold and prices would plummet. Since that doesn't seem to be the case, prospects for the cost of gold are looking up!
If you're interested in reading more about the current debate over whether or not the cost of gold will increase or decrease in the next year, please continue to research online to find out more!