Gold Investment: Top 4 Facts That You Need to Know
Gold is the most sought-after precious metal among investors. It has earned this status because of its scarcity, worldwide acceptance, and industrial application. Furthermore, it serves as an excellent hedge against inflation and reduces investors’ volatility during the major economic crises.
Here are four facts about the historically popular yellow metal that evert precious metal investors must be aware of.
Investors Hold Significant Deposits of World’s Gold
According to the USGS, approximately 244,000 tonnes of gold have been extracted from the gold mines to date. Out of all above-ground reserves of gold, 14.2 percent (28,090 tonnes) is used for technical and industrial purposes, 47 percent (92,947 tonnes) is used for jewelry making, 17.2 percent (33,919 tonnes) is held by official authorities, and 21.6 percent (42,619 tonnes) is devoted to private investments, as recorded by the World Gold Council.
Gold Is More Valuable Than Platinum
Priced at $1,761 per ounce, as of 23 June 23, 2020, gold remains on top of the list, one of the most valuable metals. Platinum, on the other hand, seems to be lagging at $816 on the day.
A comparative analysis of platinum and gold prices (see the chart below) shows us that gold has remained a leader in the precious metals market throughout history.
Your Smartphone Might Have Gold
The gold demand in the industrial sector is highly attractive to investors. The industrial applications of gold are incredibly vast, especially in the electronic manufacturing industry. The yellow metal is famous for being an excellent conductor of electricity and high resistance for corrosion.
Every laptop or personal computer has some amount of gold. Even your smartphone has at least 0.034gramsof this precious metal. It’s also widely used in the making of medical equipment used across several medicine fields. Even the highly advanced NASA gear consists of gold. It’s everywhere!
Gold Market Is Expected to Witness Price Levels of $5000 –$9000
According to a report released by the fund managers at Incrementum AG, gold may skyrocket to the price of $5000 per ounce to $9000 per ounce in the next ten years. This bold conservative prediction was made by Ronald-Peter Stoeferle and Mark Valek in May after an in-depth analysis of gold trends and valuation models.
If you’re interested in investing in gold to make money in the long run, buy gold bullion online at Orion Metal Exchange. We can also help you open a gold IRA (Individual Retirement Account) for a safe and secure financial future.
Call us at 1-800-559-0088 to learn more about our services!