Gold Prices Fluctuate With Stock Market Stability
Thursday April 16, 2009
Gold as an investment has increased in popularity since the financial crisis and world stock market crashes of late 2008, and since then gold prices have delivered a bit of a wild ride. Recent gains continue this trend as gold trades higher amid gloomy stock market reports based on jobs and business activity.
Gold futures traded at their lowest this year in January at a price of $801.50 per ounce and the gold price rose to its highest a short one month later when it was trading at $1007.70 per ounce. At the time of writing, the price of gold was $891.30.
While some commentators suggest that gold has reached its potential highs for short term trading purposes, it will depend on the state of world stock markets and how well economies and governments respond to challenges of the current economic crisis.
While stock markets remain relatively unstable, gold will remain a safe haven for many investors, and for long-term investors, gold is an important consideration for many people's portfolios. Experts agree that to buy gold to protect against inflation is presumptive at this stage. For all the latest trends, view our live gold prices.