Gold Price History

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Throughout history, prices of gold have fluctuated from as little as $20 per ounce to more than $800 per ounce. Research investing in gold, or investing in the rights to gold, with information from a portfolio manager in this free video on finance.

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Video Transcript

Gold in its own way always represented safety. Why? Well I don't know, because it's really no more valuable or less valuable then silver or any other commodity. But gold is it. In the old days Christopher Columbus and the other explorers always brought gold home to become valuable proponents of their country's treasuries. When the United States and other countries were small and the needs in the treasury were very limited, they actually had gold on hand to backup those dollars or pounds that they handed out to people. That's long gone now and the country's stand on their own. With gold being today a hedge against inflation. Back in good old 1833, gold stood at about 20 dollars an ounce and today it's close to all time high above 800 dollars. In between there have been frequent fluctuations depending upon where we were in the inflation deflation environment. So should you be a buyer in gold? Well if gold is the hedge against inflation then next time that you see unemployment rates declining and factory usage rates going up, that might be a good time to consider it. The majority of investors today which are hedge funds in gold don't buy the metal, they just buy the rights to the metal and they trade them and they want to own them when inflation is picking up and they want to get out of them when inflation is going down. So depending upon where we are in the economic cycle, the price of gold has gone up and down accordingly. What does the future hold? Well we know that that luster will always be there. In a deflationary environment is gold a good haven? I'm going to leave that up to you. I'm Roger Groh with Groh Asset and thank you very much for spending time with me.

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