Gold In 2019-2020: What to Expect

Gold has been on everyone’s lips these days. Economists have been looking at this precious metal more closely, especially now with the rising geopolitical tensions that are brought on by things like the U.S Government increase on trade tariffs on Chinese goods and goods from other countries like Turkey and Great Britain’s exit from the European Union. These aren’t the only actions that are affecting the price of gold now, also a growing number of central banks have been increasing their gold reserves. When times are bad and uncertain the price of gold goes up and those who have invested much in this precious metal will find that this is the best time to sell the gold they have for a good price.

The price of gold has been going up and down, but mostly up in the last couple of months. The yellow metal has been trading around the $1,250 mark for months now.  Analysts expect the price of gold to go up to $1,400 in 2019. It has traded at that price before in early 2018 but has since dropped and hovered around $1,200/oz. mark. The outlook for the price of gold for 2019 is $1,400 /oz. towards the end of the year. It is predicted that the price will go up to $1,400 by the end of 2020.

The optimistic look is as a result of the rally that gold has had over the past three years. At these prices, anyone who has gold to sell will get a great deal when selling to buyers of gold Brisbane. Why Brisbane?

Gold may be traded in London and it may seem that it is tied to the US dollar, but when it comes to the supply of actual physical gold, Australia has been a major supplier of gold to the world. It stands to reason, then that there would be more gold-based companies in Australia than in most other countries.

If you have gold to sell in Brisbane, there are hundred of gold brokers, jewellers and pawn shop you can take your gold to. There are even social clubs where people show off their gold collections or sell their gold to collectors. The internet is a great resource if you want to learn more. One alternative that would work, especially if you have gold jewellery is to approach your local jeweller. He or she might be able to buy your second-hand jewellery but the likelihood of him or knowing someone who will is high. That is where you should start. Pawnshops are great for quick transactions, but they have a bad reputation of lowballing customers on their prices. You can find reputable buyers of gold Brisbane who will give you a great price for your gold, especially now that the price of gold seems to be on the rise.

Besides the weak US dollar, the demand for safe-haven assets has risen because of various geopolitical factors. Economists believe that the price of gold will keep rising in 2020. When the real statistics of the US economy and its downturn become clearer, the price of gold will inch even closer to that $1,400 an ounce mark that has been predicted.

When the price of gold goes up, gold dealers experience a surge in business from customers who are looking to sell their gold because they need the money. Logic says it would be better to wait for 2020 when the price is expected to be $1,400 but due to speculation, the price of gold is in constant flux. Unless you have a crystal ball and you can look into the future, you should take “advice” with a pinch of salt and do what you need to do when you need to do it. If you do have gold that has been lying around and you need the money, that’s the best time and an excellent reason to approach buyers of gold Brisbane and sell that gold.

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