As an investment, gold has always been a tricky one to handle. In the old days, gold was used more as a savings instrument than an investment one. Today, however, gold is so much more than an instrument for protecting the value of your money against inflation.
Increasing demand and market changes have made gold a lucrative investment for several years. The big question is: is gold still a good investment to make in 2017?
Decline in Long-Term Prospects
One of the reasons why investors are questioningwhether investing in gold is a good idea is a recent decline in precious metal prices. Gold, in particular, fell by around 6%, from the $1,290 mark in early April to $1,220 in May. Since then, however, the price of gold has bounced back to its original level of around $1,290.
If you look at the long-term trends, the price of gold is on a steady climb. While there are ups and downs in the short run, the value of gold itself continues to grow in the long run. Experts are forecasting a break beyond the $1,300 mark before the end of the year. If that happens, expect to see the value of gold climbing even higher.
Increase in Demand
In 2017 alone, investors are banking on gold prices gaining around 12%. The reasoning behind this forecast is incredibly simple. Demand for gold is reaching a high point and will continue to grow for the rest of 2017. At the same time, market supply is tumbling with top gold mining companies not reaching their targets in Q1 and Q2 of 2017.
The 12% forecast is not a difficult one to achieve. According to sources such as Money Metals Exchange and their gold spot prices chart, the price of gold is up by a whopping 8%. Money Metals Exchange experts are even predicting a steady rise to $1,400 per ounce as we get closer to the end of this year.
Approaching Gold as an Investment
Gold and other precious metals are far more accessible as an investment opportunity. You can now trade gold without having to rely on its physical form. Trading platforms such as MetaTrader offers access to gold directly, while investment companies are opening their commodity and precious metal markets to more investors.
There are a few things you need to know about gold as aninvestment before you get started, especially in today’s economic landscape. The rising inflation in the US will certainly bring more funds into gold, which means prices will climb steadily. To capitalize on the opportunity, you need to enter the market early.
You also need to pay close attention to other commodities. There will be ups and downs in the short run, similar to what we have seen so far, but the overall outlook of gold prices will remain positive. Use gold as a long-term investment instead of a short-term one and make sure you keep an eye on the consumer price index (CPI) too.
So, is gold still a good investment in 2017? Based on what we have seen so far, it is a solid investment instrument that can turn over a healthy return.
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