gold price in the US

A detailed Summary of gold price in the US

The largest demand for gold is in jewelry and investments. Gold is known as a

metal that is easily used and has many industrial applications. Since gold is so durable and

luxurious, many people invest in jewelry, stocks, and gold bonds. Considering the fact that

gold is considered a world-wide valuable good, many economies have gold reserves to

help protect themselves in times of need. Nevertheless, factors of supply and demand have

contributed to the decrease of the price of gold, which has reached an all time low since

1978. This reduction has raised many concerns in the United States having them weigh the

different factors of the price, supply and demand, and consumption that may be affecting

The price change commands attention since gold serves to indicate price stability

or inflation. Although, inflation is not as threatening in the United States because it is

more industrialized, the bigger fear is facing deflation with our countries gold currency.

Gold averaged 294 dollars per ounce in 1998, when at one time the prices were in the mid

$400-500 per ounce. Due to fact that gold prices have been so low, Central Banks have

threatened to sell their gold inventories fearing that gold is no

slowing the rate of manufacture growth by the end of 1998. When prices began to

and demand fundamentals and the economic environment. The supply of gold declined by

worried with hopes that demand will not continue to decrease.

commodity, used in jewelry and by industry. It is important that details of supply and

time report of 428.4 metric tons in 1998, which is an 18% increase. Since consumption

As for the second half of the year, prices still dropped but managed to stay in the low

90% percent of their investments in gold and have many investors wondering if the value

Regardless consumers were happy with the lower prices, many investors and

Approximate Word count = 1018
Approximate Pages = 4 (250 words per page double spaced)

Category: Politics

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