We Are Living in a New Gold Rush
June 14, 2014 [...]
Countries' national banks, investors, the rich, the middle class and even those with low income are hoarding gold.
All of this is still ongoing despite the shiny yellow metal's abrupt 2013 dip.
Because gold is regarded s a hedge against currency devaluation and, because it has the great capacity to store wealth, it is being accumulated by all of those mentioned and probably by other categories as well!
Source: © iStock.com/Korovin
We can call this a global gold rush, a run for the gold...
Besides the persons, the national banks of sovereign nations are also accumulating the meal. Some are buying, others are repatriating from foreign vaults.
This analysis will give you further details about the trend.
But before we go into details: how about you? Did you consider investing in gold?
In the ealy 2000's, gold was trading between 200-300 $, but has peaked above 1,900 $ in summer 2011. This was gold's decade-long bull market, which was partly fueled by the outbreak of the 2008 economic crisis.
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