Gold prices have been on the rise for several weeks now. Geopolitical tensions, inclement weather and potential military action have all impacted the financial markets. Investors, hoping for some way to offset the potential risk in such uncertain times, have been flocking to gold. Gold has traditionally been a popular investment when other, potentially higher-yielding investments don’t feel stable.
After gains in early trading, gold on Tuesday, September 5, 2017, was trading at around $1,336 per troy ounce. Concerns about North Korea’s Sunday nuclear test and signs of ongoing tensions between the Asian country and the United States have investors yearning to offset riskier investments. For those who trade gold on a weekly or monthly basis, the potential for substantial profits at higher prices can’t be ignored. For those hoping to trade short-term, these gains bode well for ongoing price fluctuations.
Prices Could Go up from This One-Year High
There are currently a number of factors influencing gold prices and the global gold market. While nervousness about potential political or economic actions taken against North Korea have affected prices, so have many other considerations. A weak dollar, which often moves in opposite directions from gold, has also helped to bolster gold prices in recent trading sessions.
Market analysts and many investors believe that gold prices could remain in this range or even continue to increase in upcoming weeks. Many factors, including promised ongoing nuclear tests by North Korea and the multi-billion dollar clean-up for Hurricane Harvey (and Hurricane Irma, if she makes landfall) will have an impact on how gold trends in the near future.
Trading Gold Futures Online Can Be a Wise Investment Strategy
For those who are interested in short-term online trading of gold futures, the higher price can be a sign of potential profit. Gold prices tend to move up and down in smaller increments every day and throughout the week. For those who monitor the markets carefully and choose to trade gold futures online via a Forex platform, each one of those shifts is an opportunity to buy or sell gold for a profit.
Trading gold futures online is simple and convenient. Unlike physical gold, you can quickly buy and sell gold futures when the price is right. Online trading even allows you to leverage your investment and control more gold than you could if you were physically purchasing the precious metal.
