This chart shows the EUR gold price for the last year, for a kilo of gold. You can see the gold price according to different periods of time, weights and currency by simply adjusting the drop down options at the top of the chart.
If you are thinking about buying gold bullion then you may look at the gold price for the year to give you an idea of market trends and sentiment.
Whether you look at the gold price for last year or the gold price of the last decade, you will clearly see that demand for gold remains strong. This tells us that sentiment regarding financial risk in the economy is weak. We can see this because people invest in gold as it is a safe haven against risks in the economy and beyond. When we have a gold price that has made gains then we know that people are choosing the safe haven over the likes of holding cash, property or stocks and shares.
Despite seeing the usefulness of looking at the gold price last year, we do not recommend price-watching as a way of trying to choose the best time to buy gold. This is because we believe that as a long-term investment there is little advantage to buying one day over the next.
If you are concerned about timing your gold purchase according to the gold price then we recommend you cost-average into your investment. This means that you invest the same amount, on a regular basis, into gold bullion. You can read more about our GoldSaver accounts here.
If you'd like to include Gold in your portfolio but need some assistance, please contact GoldCore by chat, email, or phone, and our knowledgeable team will gladly help.
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