As everybody now, gold investment account is getting popular nowadays. It allows you to buy, sell and keep track of your gold transaction via a passbook.
There are many banks for you tom open gold investment account. Investor can always select their preferred choice to invest in. What they need to have is just a savings or current account at the bank in order to open a gold investment account.
Gold prices hit a record high at US$1,911 an ounce last 2 months ago. A year ago, the gold buying price ranged from RM121 to RM123 and the sell price ranged from RM126 to RM128. But, at the end of August, the buyer price ranged from RM174 to RM178 while the sell price ranged from RM180 to RM185. So, the gold price has proven its strongest investment vehicle during economic crisis period.
Prices for gold have hit new high again with it reaching US$1,565.70 per ounce on April 29. But, how high gold prices will go has become a hotly debated especially as the metal has been unable to sustain highs.
Do you know why gold price keep going up even during economic recession? Gold is considered a safe haven bet against high inflation. Recently, gold price keeps on going up probably caused by the social unrest issues in the Middle East and North Africa which raising the prices of oil. Plus, western countries see the financial imbalances in the western economies as a more dangerous long term threat to global financial security.
So, in the long term, gold will be a good investment option because of its ability to ride out economic uncertainty and global pressures
How High Will It Go?