Gold has risen to its highest price in three months as Middle East tension encourage traders to flock to gold for its safe haven qualities.
This latest rise accounts as part of golds come back, since the beginning of the year the shiny metal has risen by 11%. Furthermore, as the fed have left assurances that they will keep interest rates low as tension in the Middle East continue to simmer, we do not foresee a weakening of the gold price for the near future.
As it emerges that Israel have around 20,000 soldiers ready for action for a possible strike on the Gaza strip.
It seems the turmoil has had the effect of causing the dollar to weaken and precious metals to strengthen. It’s no longer a question of what the dollar is doing when such terse political conditions remain.
Now is an exciting time for gold bulls and also for those who are new to investing in gold.
In times of political unrest many turn to investing in gold due to the yellow metals safe haven status as a means of protecting your wealth. Physical gold is outside of the banking system which gives you the control over your asset.