Since then, the average annual growth has been well above 8%. The value of gold prices fell by approximately 10% during the same period, 19 hours ago. The value of gold derives from its scarcity as a commodity, as well as from its long history as a stable medium of exchange. The price of gold tends to rise during economic uncertainty and when inflation is high.
For those looking to invest in gold, a Gold IRA buyers guide can provide helpful information on how to get started. The dollar is likely to drive up the price of gold due to increased demand (because you can buy more gold when the dollar is weaker). Therefore, gold prices may be affected by the basic theory of supply and demand; as demand for consumer goods such as jewelry and electronics increases, the cost of gold may increase. The first is the VanEck Vectors Gold Miners ETF, known as GDX, a security that tracks the overall performance of gold mining companies.