Advertiser Disclosure

Everything To Know About Gold Rates

Everything To Know About Gold Rates Commoditytrading

In August of 2011, gold prices soared and reached its crescendo at a cool $1,900 an ounce, an all-time high in the daily gold price. Experts were not too concerned at that point in the sudden all-time record of increase in gold prices, but they freaked out at the rapid speed at which the prices were hitting them. The year started with the price of gold being just $1,400 per ounce.

On August 22nd during the after- hours of electronic trading, the price of gold touched $1,900. It then went up to its all-time high of $1,917.90 per ounce on August 23 of 2011 before it dropped to $1,880. The very same thing happened to the price of silver earlier that year when it kept going up thereby sucking everyone in before it suddenly dropped. The gold rush was definitely on. Gold has always been seen as a good hedge against inflation, but this drastic increase in the daily gold price has by far outpaced inflation at an alarming rate, which was a matter of great concern. During a span of over 10 years inflation had picked up a mere 2.4% on an annual basis, whereas the yellow metal took the world by storm with an increase of about 21% a year for the same period. Analysts say that this sudden soar in the daily gold price can be related to the debts faced by the US and Europe.

The other time when gold prices reached its peak was in the year 2016, on the 12th of February. The price of gold went up to 44 times the price of oil. The downward price movement of oil was highly significant with the price of a barrel of oil dropping down quite low, which was really an unprecedented collapse. According to experts, the gold price spikes up during the Chinese New Year, which according to them is another trend of gold to bear in mind.

619 VIEWS

top rated cards

Citi® Double Cash Card – 18 month BT offer

cards
  • Purchases Intro APR
    15.24%
  • Regular APR
    15.24% - 25.24%
  • Balance Transfer Int APR
    0%
  • Annual Fee
    $0

Citi ThankYou® Preferred Card

cards
  • Purchases Intro APR
    15.24%
  • Regular APR
    15.24% - 25.24%
  • Balance Transfer Int APR
    0%
  • Annual Fee
    $0

Citi Simplicity® Card - No Late Fees Ever

cards
  • Purchases Intro APR
    15.74%
  • Regular APR
    15.74% - 25.74%
  • Balance Transfer Int APR
    0%
  • Annual Fee
    $0

Citi® Diamond Preferred® Card – 21 Month Balance Transfer Offer

cards
  • Purchases Intro APR
    14.74%
  • Regular APR
    14.74% - 24.74%
  • Balance Transfer Int APR
    0%
  • Annual Fee
    $0
Home Loans

First Time Home Buyers Loan Made Easy

Buying home is a task, and in today's world where the prices of homes are going sky high, and the income still remains the same, it becomes difficult to buy the first home with full down payment. People have been struggling everywhere to make a livin...
1075 VIEWS
Finance

Debt Management Services Offered By Consumer Credit

ConsumerCredit.com offers debt management help to scores of Americans through credit counseling, debt management programs, and debt consolidation. They help individuals struggling with debts by steering them on the right path to financial management....
596 VIEWS
Bad Credit Loans

Is It Easy To Get Loans With Bad Credit

There are signs a person must look out for to know that they have a bad credit. This includes paying higher interest than advertised, your checking account is always overdrawn. cell phonies companies don’t give you a contract. In addition, the most...
1012 VIEWS