Gold is still precious since ancient civilizations used it as currency. But now, it is a salvation for our wealth. All the countries keep gold bars in their central banks in case of the next crisis attacks. Great examples are China and Russia. They buy gold in tonnes by bargaining with big discounts. Gold mining companies’ stock prices stay steady and rarely crush. Today, I got an idea to analyze the annual performance of gold prices from October 2018 to October 2019. I was shocked seeing the steep increase from $1280 to $1550 for ounce. Other shocking scenarios will surprise you further, keep reading.
October 2018 gave some trouble by decreasing the price but November 2018 shows a steep rise. However, short term decline to $1200 happened in that month. A volatile movement with an uptrend till March 2019 gives hope to gold holders. Unfortunately, a downtrend made them lose their hopes for a while until June 2019.
The summer of 2019 became a steep uptrend season for gold’s felicity. Nevertheless, the short-term downtrend is happening since September 2019. Let’s see how it goes. I expect there will be a rise from December 2019 till February 2020 as it happened in the same months of 2018 and 2019.
If you already decided to store your wealth in gold, head over to this link.
Editor in Chief.
Living in the era of dynamic tech change Alex decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring in Finance) writing for technology and as well as finance has been one of the precious aspects of his life