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?