Price of Gold on the Rise - 4/20/16
See that gold ring on your finger or those gold earrings in your rearview mirror – they’re worth more now. As indicated by CNNMoney, a combination of early year market turmoil, the ongoing erosion of confidence in central banks around the world and a dash of geopolitical chaos helped the price of gold post its best quarter since nineteen eighty six.
The price of gold rose by nearly seventeen percent to $1,234 per ounce during the year’s first quarter. The surging price of gold is a reminder that it continues to play an important role as a safe haven asset – one to which people turn when they’re nervous.
The first three months of the year produced many reasons to be scared – a drastic slowing in the Chinese economy, market turmoil in America, dipping oil prices, belligerent behavior in North Korea and terrorism all helped to induce investors to stock up on gold in early twenty sixteen.
Fear led investors to pour thirteen point four billion dollars into gold assets during a recent eleven-week stretch, the largest sustained inflow since the two thousand and nine financial crisis. Still, the price of gold remains far below its all-time high achieve in September of 2011 when the price of gold stood above nineteen hundred dollars.