There is a reason why your grandmother kept that old pair of golden earrings and passed it down to you with hopes that you would pass it down to your grandchildren someday. Gold is valuable. It has been before, still is now, and would still be in the future. Therefore, buying gold is something that should be done now.
Why buy gold now?
According to Atkinsons Bullion, the prices of gold bullion coins remain stable despite seemingly declining during the first quarter of 2016. The stability of gold prices is because its price is near the average cost of the product while at the same time below the margin cost of production. Therefore, mining companies continue to produce more to cope with the booming of gold prices.
Thanks to the internet, people are more aware of gold’s value. This led to gold’s increased demand from all over the world, particularly from countries like China and India. Increased demand means more competitive prices. Despite growing demands, one should remember that gold is a scarce resource. Therefore, even though the demand is high, gold would always have a higher value than other minerals because of this reason.
Immunity and security
Huffington Post described gold as a “safe haven”. Countries turn to gold during times of turmoil. This was witnessed during the 2008 Asian Financial Crisis as well as the recent weakening of Asian currencies back in 2016. Gold is practically immune to the changes in the current market making it a great security choice for countries, businesses, and people in trying times.
Your grandmother saw the value of gold, so should you. Whether you plan to get into the gold investing business, or simply want to keep some for yourself to get through the rainy days, now is the time to purchase gold.