The buzz among many esteemed analysts point to another rally for golf products and other precious metals in this fall, even as early as September. While bears wait with baited breath for a slump in prices, the bullish camp points to the overall 25 increases in prices this year. Gold surged past $1,330 per ounce for short periods this summer, though many predicted the price would fall below $1,000 this year. So far, the bulls have been right and gold products may be poised to rally even higher by the end of the year.
Investors Hedge Bets on Wedding Season
On Tuesday of this week, gold was at $1,338 per ounce. Typically, summer season is the weakest time for this precious metal so some investors and analysts expect that the beginning of fall may bring greater gains than ever. Many are hedging their bets on India’s upcoming wedding season, continued post-Brexit fallout and weakening currencies, including the dollar.
One of the countries with the greatest demand for gold and silver is India. In fact, India is second in the world when it comes to its demand for these precious metals, following closely behind China. India’s total demand is greater than all of the European Union and the United States combined. India’s traditional wedding season takes place in October, which is why their need for these precious metals surges during September.
Precious Metals Make a Safer Bet
As many worry that the United States dollar will remain in a weakened state, savvy investors continue to flock to gold and silver products to hedge their portfolios. The post-Brexit sentiment around the world still seems to be affecting both bond yields and the equity markets as well. Since precious metals retain their intrinsic value despite volatile economic performance across the globe, investment in gold and silver products is a wise choice.
Visit this link to learn more about investing in gold products, silver and other precious metals.