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Three reasons the price of gold continues to go up.
1. Fear of War
Whenever war breaks out, the currency of the loosing country goes to the toilet, or should I say becomes worthless.
Examples: The German marks and Japanese yen at the end of World War II.
2. Fear of Recession
3. Fear of the Unknown
This is a concern we can all understand. Most people have no idea what will happen to the world economy after the conflict between Russia and the Ukraine ends. In fact, most of us are hoping that the problem will not escalate into World War III.
When you are dealing with the “unknown” this upsets your confidence level. which automatically brings on a variety of different thoughts. This is when investors who can’t stand the heat move from one investment type to another.
I have never been able to stand the heat of the stock market, but gold, well that is a different story.
These three different “fears” are driving up the price of gold and in a big way. Yes, one day its up and the next day its down, however as compared to three months ago, it is way up, no matter what it does from day to day.
If you want to buy gold based on your financial status, regardless of if you can afford to invest $5 to $500 a month, you…
