What is the price of gold per ounce, as of May 2011, the end of spring? As of May 27, gold is $1,535 per troy ounce. This symbolizes an excellent recovery, considering that gold actually dropped in value last month. However, gold has gained a lot of its momentum back.
And no wonder, considering the weak performance of the U.S. dollar. Despite the United States’ alleged victory over terrorism, not much improvement was shown in terms of economy. The U.S. dollar weakened and both silver and gold increased. MSN Money and The Street reported that gold and silver were up, peaking at $1,539.50 and $37.85 per troy ounce respectively.
The world scene continues to remain unstable. There is still trouble brewing in the Middle East and North Africa, and the European economy is now facing serious challenges. China is also a major consideration. China has been buying up tons of gold bars, gold coins and gold jewelry in the last few years and has plans to double their current gold demand in the next ten years.
What does all of this mean for gold per ounce in America? It means that now is the time to buy as much gold as you can afford. Every time investors predict that the gold bubble is destined to “burst”, gold proves them wrong. Gold did fluctuate last month but now is back on track, inching its way up to $1,600 per troy ounce.
As the dollar continues to lose value, expect gold to rise in price, beyond its current value. Some experts believe this yellow metal is capable of growing to $2,000 PTO, and this is a somewhat conservative estimate compared to what some followers are predicting in the Middle East. Some people are predicting gold could skyrocket to well beyond two grand, especially if there are further crises overseas.
Remember, there is no risk when you invest in gold per ounce, as it retains value and inflates right along with the market. While gold could theoretically fall to $1,000 PTO again, however unlikely, you can still count on it maintaining more overall value than American dollars. The facts show most banks are backing away from paper currency and are trying to invest in precious metals.
You can get started right now, by buying gold coinage or bars of gold per ounce, or half ounces. Buy these precious metals while they’re still available and enjoy long-term financial security!