Demand for gold has remained rather steady for the past decade and in general has increased in value. But now, in the last couple of years, there is concern as to where the value of Gold prices will go next. There has been a shift in the countries that are buying gold–namely India and China have become huge purchasers of gold. Here you can read more about the history and significance of gold in the past.
There are some that believe the price of gold has stalled due to the emergence of the ‘crypto currencies’ like Bitcoin and Litecoin. It seems that the value of gold has decreased as the value of these crypto currencies have increased. Could it be that the demand for precious metals (once the basis for the value of different countries’ net worths) is giving way to the digital currencies?
Investors are always looking for safe havens for their money, and places where they can get the best returns. It is hard to imagine that investors and speculators will see more value in a digital currency than they will in gold, but anything is possible. Here are some interesting and useful statistics on the significance that gold has had in the global currency market, both today and in times past.
So in the end no one knows for sure where gold price will go…
So, what do you think about gold direction?
Please share this infographic with your fellow gold traders.
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