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What Affects Gold Prices Today?

The gold prices today are 1,395.90 per ounce. But what does that really tell us?

Yes, the price of gold is down a bit, but does that mean it’s time to buy?

Not if price is the only factor we’re considering.

There are still plenty of people who remain bullish on gold, if only because the market price continues to be in an upward trend.

But what about our reasons for buying gold?

Are we looking to make a good return on our investment? If so, some analysts say we may be better off investing in stocks and bonds.

How about gold as a hedge against inflation?

There are plenty of analysts and financial advisors who tell us that this is a much more rational reason to buy than are just the gold prices today.

And then, there’s a smaller group–at least smaller, in terms of speaking out publicly–who suggest the economy is headed for serious disaster. For this population, it makes sense to buy gold as an alternate form of currency. In simplest terms, when our money won’t buy a loaf of bread anymore, it’s expected that we can still buy that loaf with gold.

If you’re looking at investing in gold, it’s important to consider your reasons for buying. Do you fall into one of these three main categories? And if so, what’s your reasoning?

Once you have an understanding of why you’re considering buying gold, then you can take a closer look at the factors that influence prices. The economy and social climate can make a huge impact on the cost of precious metals. And we have to consider these issues not just locally, but on a global scale.

To get a solid understanding, it makes a lot of sense to seek professional advice on whether or not to buy gold, and when we should buy. Gold prices today–and the market trend–play a part in that decision, but it’s wise to consider the bigger picture.

 

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