| Joseph Byrne Monday, April 29, 2013 |
Gold prices are making a comeback after the biggest single-day price plunge in thirty years. This plunge occurred two weeks ago when investors became less worried about inflation.
Investors have long invested in gold to protect against sharply rising prices that occur during inflation. This worry is a big determinant in why gold trades at almost four times it did just 10 years ago.
Some investing professionals see this decline in price as a buying opportunity for those who want to invest, especially since they believe that gold prices will rebound from this plunge.
The decline began when the government reported an inflation drop, but there were other factors that may have influenced the drop. These include a slowdown in the economic growth of China, as well as fears that some European countries that are in financial trouble may start selling gold reserves to help them get out of the red.
As a long term investment, gold prices can go higher. This can protect you against inflation. Just as with any investment, however, the timing is something that is hard to nail down. That is why you want to be sure that you do your research to ensure that you are making the most well informed decision possible.
joeb@longislandyellowpages.com Appears In: Business News
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