It Is Not Too Late To Buy Gold Bullion Bars Gold is the most sought after commodity so far this year. Investors and everyday people buy gold bullion bars to position themselves in the market and preserve their savings, as 2014 is expected to be a year of international economic crisis, a year when millions of people will be facing unemployment and fear of becoming destitute.
Investors have kept their faith in gold, but 2013 was a bad year for a number of reasons and the gold market nearly crashed on two occasions. From now on, investing in gold will be a very risky business for the less informed gold buyers.
“Buy Gold bullion bars at any price….”
The traditional way of investing in gold was really very simple: “Buy as much gold as you can at any price and never sell! “.
This recipe made many people millionaires until 2011 when it was substituted with a similar one: “Buy gold bullion bars when they are cheap and never sell unless the price goes through the roof!”.
Ten years ago the spot price of gold was at $ 400 per troy ounce and 5 years ago the yellow metal was selling for $ 1,000 an ounce, so cautious investors were selling at $ 1,800 or even $ 1,600 an ounce having considerable profits and then waited for “cheap” gold prices.
When gold plunged almost $220 last April, it was by far the most extreme drop in bullion prices in the 5,000-year history of gold. And even today, nobody can say for certain what caused it. Many investors then saw gold at $1,350 per ounce as a buying opportunity, even more so since many experts were predicting that gold prices would skyrocket beyond $ 2,000 per ounce.
Instead the price of gold fell below $ 1,200 last July and December. A steep drop in prices can render an unstoppable chain-reaction of conditions that could lead to a market crash: in December this was an immediate danger. What also happened earlier last year is that many international gold miners became unprofitable overnight (many cannot afford to mine gold below $1,250) which should radically decrease global gold production, while radically increasing global gold demand at the same time.
Buy Gold bullion bars at an upward trend
Starting December 30, the gold spot price chart has followed a remarkable upward trend showing that the momentum is ideal for cautious purchases with a long –term perspective. Technical analysis gives definite buying signals below the strong resistance area of $ 1,300 per ounce.
Prior to making any decisions, visit the site of coininvestdirect.com and learn about their brilliant collection of gold bars ranging from 1 g. to 400oz. and many sizes in between. Study the price charts and the articles that interest you and always try to be updated with the news. As far as forecasts go, you can find expert opinions ranging from $ 800 to $1,800 as a prediction for the end of the year and you can take your pick; just remember that when it comes to investing, fear and greed are your worst enemies.