After several weeks of increasing international tensions, recent events have pushed gold prices above the $1,300 per ounce mark. On Monday, August 28, 2017, gold closed at a nearly year-high price. Early trading on Tuesday the 29th has gold hovering in the high teens, around $1,319.00 per Troy ounce. For those who bought into gold before this most recent surge, there is great potential for selling it at a substantial profit.
While it is impossible to predict how the market will react to ongoing international tensions, the current economic and political environment seems to be one that favors stronger gold prices. Investors tend to view gold as a safer choice in times when more traditional investments, like stocks or currency bonds, feel too volatile.
North Korea Tensions, Afghanistan Surge Impact Pricing
The interest in gold isn’t just domestic. In fact, a lot of Asian investors are looking to the yellow metal as a good investment due to increasing tensions. North Korea is now subject to increasing trade sanctions and regularly testing missiles, including a launch that sent a missile directly over Japan. That has also fueled concerns about political unrest and potential military action.
European investors and domestic investors are also nervous about recent announcements of an increase in United States troops in Afghanistan. These two issues have combined to create an ideal situation for gold pricing. Some investors and analysts see the potential for ongoing gains, even beyond the $1,300 per ounce mark.
Military concerns, combined with a weak dollar, have made gold an attractive way for investors to reduce risk and potentially make a nice profit. It remains to be seen if the United States dollar will rally or if gold will continue to push upward in the upcoming days and weeks.
Trading Gold Online Lets You Profit from Market Surges
If you don’t already trade gold via an online Forex platform, now is an ideal time to try it out. With prices moving up and down with regularity, the potential for profit is there even when the price isn’t aggressively moving in either direction.
You can leverage your capital invested in gold futures online, which means that you can control more gold this way than if you were trading or purchasing gold bullion. It’s also important to note that trading online allows you to quickly buy or sell when the market is moving, making it simple and convenient to trade gold futures from the comfort of your home or office.
How to Trade Gold?
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