Following international terrorism issues, policy shakeups involving the Paris Agreement and a weak jobs report, gold prices have surged in recent trading. As of mid-day on Tuesday, June 6, 2017, gold futures for August delivery are trading at more than $1,292.00 per Troy ounce. Investors who purchased gold last week when it was trading for roughly $1,260 stand to make a reasonable short-term profit from this most recent bullish turn in the gold market.
Many different factors contribute to the global price of gold. Because the United States is a dominant economic power, when the U.S. dollar is weak and economic reports are mediocre, investors looks to gold. A bad economy, slow growth and a weak dollar can all push investors to move money out of stocks and other financial investments and into more stable commodities, like gold.
Political Instability Drives Investment Decisions
There are many issues contributing to political instability around the world right now. Increased pressure from Islamic extremists and terrorists, particularly in the United Kingdom, has many pundits and analysts concerned. Boko Harem, an Islamic group in Africa, has also committed recent attacks that have people in the region concerned about stability. Combine that with worry over President Trump’s decision to withdraw from the Paris Climate Accord, and weak domestic economic signifiers, and you have every reason for investors to look for something more stable for the moment.
In fact, many analysts believe that gold prices will continue to move upward, thanks to a variety of factors. From China’s increased mining activity to concerns about climate change’s impact on trade, there are a number of factors that could continue to destabilize businesses and financial markets. These factors, in turn, could continue to push up the value of gold.
Now Is a Great Time to Try Gold Futures Trading
With gold prices reaching amounts that are close to the highest prices yet achieved in 2017, it’s an ideal time to consider trading gold. By buying and selling gold futures online via a Forex platform, you can easily trade gold futures from the comfort of your home or office. As soon as you realize it’s a good time to buy or sell, you can access your Forex account and make a trade. The potential for profit is there if you regularly make wise short-term trading decisions.
