02 May 2011

The Demand For Gold Skyrockets!

The demand for gold is growing rapidly even as the price of gold skyrockets. Much has been said lately both in the news and in print about the rising price and value of gold. Whether you're a seasoned gold investor or are new to this precious metal, you need to stay informed about the current gold price.

Gold prices were much lower years ago. Here is an amazing fact that will make you wish you had invested in gold a few years back. $25,000.00 of gold bullion purchased in the 70's would be worth at least $524,999.00 today. Inflation, the oil crisis, the Internet and more have not effected the value of gold in the long term.

Who decides the spot gold price? That's done by a group of five banks in London. The first time t his was done was in 1919. Gold spot (a common search term), deals in the price of gold in British pounds, U.S. dollars and euros.