Right now is a good time to have a stock of gold. In general, a gold investor can expect moderate increases and decreases, always leaning towards a substantial increase on their initial investment, but last month saw an unprecedented jump in gold prices.
In one day, on September 17th, gold jumped up about seventy bucks to $847.30 an ounce in New York. That’s an 8.9% boost. To put that in perspective, if you had invested just one hundred bucks in gold on the beginning of that day, you’d be nine bucks ahead when the day closed.
But wait: Gold kept rising after New York closed. In London that day, Gold slipped just a bit at the beginning of the day, before jumping to $893 after a 14% boost in less than twenty four hours.
At the end of the day, we had a number of analysts declaring it the biggest boost since 1980, and others declaring it the biggest boost in gold ever. For reference, gold had a nice, if short lived, peak of $2,000 in 1980.
Silver had a good day on the 17th, too, going up by about ten percent.
The jump actually came as a surprise to nobody, of course. Gold always rises when people get worried about the economy. The great thing about gold really is that it’s fairly predictable. When you invest in stock, you’re never 100% sure you’re betting on the right horse. With gold, you always have a pretty good idea of where the market’s going, and even if you’re wrong, there’s certainly no gold market crash on the horizon.
Although, to be honest, while these big one-day jumps get me in a good mood, the real pay off with gold is years down the line. The whole point of investing in gold is to protect yourself from the messiness of the current global economy.
