Most people like to invest in something that is stable and won’t lead them to losses like the currency market. The currency trading has always been too fickle and for an average consumer who doesn’t wish to take too much risk, it can be quite taxing. This is why people turn towards gold and silver. It’s not only because of the stability but also, ease of buying. Most recognized precious metals firm would provide you with coins, bars and bullions which are the most preferred forms of owning gold and other precious metals.
This is great news indeed for people who stood by their gold and silver savings in the past. The seven month long low is finally over and the gods are smiling upon the two favorite metals of everyone. The last Monday of February saw gold gaining after the long painful months of losses and that too in a week when prices fell by almost 2.3%.
Futures seem promising as well
- April futures of Gold saw a rise of about 0.9%, that is $13.80 and Comex shows them settled at $1586.60 per ounce. The intraday levels of gold trading were between $1574.7 and $1594.
- March futures for Silver saw a rise of about 1.9%, that is $ 13.30 and Comex shows them settled at $28.987 per ounce. The intraday levels of silver trading were between $28.540 and $29.215.
- Palladium, which the next best alternative after gold and silver saw a rise against for the second consecutive time. March futures of Palladium saw a rise of about 1.9%, that is $13.75 and Comex shows them settled at $749.05 per ounce. The intraday levels of trading were between $734.75 and $752.35.
- Gold added about 0.6%, that is $9.75, to $1586.25 per ounce.
- Silver added about 1.3% that is 38 cents, to $29.17 per ounce.
- Platinum gained about 0.6% that is $9, to $1620 per ounce.
- Palladium rose by about 2.2% that is $16, to $748 per ounce.
The reason for the rise in gold’s prospects could be because central banks of Kazakhstan, Russia, Turkey and Azerbaijan increased their gold bullion reserves in the past month. In the last three weeks, there had been some fall in gold prices. After the two day meeting of the Federal Reserve, it was decided that some stimulus and added push would be provided to ensure that prices get better, and so they have.
Only last week, the precious metals were facing a fall in the market. Silver logged losses of about 4.7%, Palladium was 2.4% and Platinum around 4.2%. The situation was quite similar in London as well where Gold, Silver, Platinum and Palladium saw losses.
London saw its precious metals rising as well. Palladium was seen to gain for the second day straight while gold, silver and platinum were high as well.
The time seams ripe to invest in precious metals and shield yourself from the unstable currency market.