15 August 2022
1300 794 893
Subscribe
Unsplash Image

Is it time to buy gold – and how can you do it?

Paul Rickard
28 July 2022

While I have never been a gold bug, I do keep a close eye on the gold price. After surging to over US$2,040 per oz immediately after the outbreak of the war in the Ukraine, it has steadily declined and lost more than 17% in value. Today, it trades around US$1,700 per oz.

For gold enthusiasts and others who maintain that gold is the ultimate “store of value”, this is a pretty disappointing outcome as it occurred when global share markets were being trashed. Normally, in times of market uncertainty and volatility, gold does well.

But 2022 is different. Rising US interest rates and a surging US dollar have wreaked havoc on the gold price. The US dollar is once again demonstrating that it is the global “reserve currency”.

Gold Price per ounce in US Dollars – 7/17 to 7/22

Sign up to the Switzer Report to read the full article and gain access to exclusive content like our weekly investing webinar hosted live by Peter Switzer and Paul Rickard.


Want to know the 5 Stocks Peter Switzer & Paul Rickard are buying in 2022?

We're giving you FREE access to find out which stocks our Switzer Report experts think have the highest upside in October and beyond!

Comments
Get the latest financial, business, and political expert commentary delivered to your inbox.

When you sign up, we will never give away or sell or barter or trade your email address.

And you can unsubscribe at any time!
Subscribe
1300 794 893
© 2006-2021 Switzer. All Rights Reserved. Australian Financial Services Licence Number 286531. 
homeshopping-cartphoneenvelopedollargraduation-cap linkedin facebook pinterest youtube rss twitter instagram facebook-blank rss-blank linkedin-blank pinterest youtube twitter instagram