| Could The Price Of Gold Hit 6.000 Dollars An Ounce? |
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| Written by Kathryn Smith |
| Saturday, 15 May 2010 22:22 |
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In 1980 the Western economies where hit by numerous crisis that were coming one after another. But, in the middle of all the chaos, gold managed to reach 850 dollars an ounce. This price of the glittering metal was seen again only after 30 years.
In 1980 the Western economies where hit by numerous crisis that were coming one after another. But, in the middle of all the chaos, gold managed to reach 850 dollars an ounce. This price of the glittering metal was seen again only after 30 years. The well-known agreement signed at Bretton-Woods after the end of World War I, stated that the dollar was interchangeable with gold at a price of 34 dollars an ounce. But back in 1960, the French had their suspicions about the fact that the Americans printed so many dollars and they didn't have enough gold to back them up. After hearing about France's move, the Central Banks of Belgium, the Netherlands, Germany and even Britain also decided to change their dollar deposits into gold. The big demand for the precious metal determined a great rise in gold prices and soon the glittering metal reached a peak of 850 dollars an ounce in 1980. Today, China thought it would be better to invest in the yellow metal while the dollar was weak and so it began to purchase the glittering metal. It is well known that many countries like Russia and Venezuela have been investing in the precious metal for years. The boldest country of all was India, because in 2009 it bought 200 tons of gold from the International Monetary Fund. And one of the worst moves of 2009 can be considered Gordon Brown's decision to sell a very big part of the British gold reserves. This is a period in history when the Central Banks have become buyers instead of sellers. It is a time when people are investing in the yellow metal in order to diversify their portfolio. They have realized that gold is a valuable and safe asset to own and this is why they are trying to come up with the money to invest in the glittering metal. If you would like to invest in the yellow metal, then you should start with a little research and then decide what you want to do. DISCLAIMER: This article is provided as information only and is not to be taken as financial advice. For a wide range of Made to Measure Curtains in huge range of Fabrics visit Homeinteriors4u.com. |