Gold Rises By $10.90 Per Ounce

Gold Rises By $10.90 Per Ounce

The rising prices we are currently seeing in gold is always a sure-fire sign that there is political uncertainty in the world and that people are looking for an investment that has always been pretty safe. In times of uncertainly, gold has been the go-to asset but as demand for gold rises, it’s fairly clear that many investors will not be able to afford it and will need to look for other safe investment options.

It’s amazing what a new US president can do to the markets, and Trump’s presidency has seen gold prices soar as nervous investors take stock of what might happen. Shortly after the inauguration, gold prices rose by $10,90 per ounce causing many people to dig out their old jewellery they don’t wear anymore and to hot foot it to the nearest jewellers to cash it in!

Gold recently hit a high of $1219.43 on the markets which is the highest it’s been for some time. Market uncertainty surrounding Trump’s policies and talk of interest hikes by the US Federal Reserve is causing investors to seek safe havens and they don’t get much safer than gold.

Is this just a knee-jerk reaction?

Probably. Over time, gold will settle down to its previous levels but in the meantime, it’s worth checking through your old jewellery boxes to see what you can offload!