Gold prices have reached an unprecedented high this week, with the New York spot closing at a record $4,326 per troy ounce on Thursday. This surge is attributed to economic uncertainty, which has investors seeking safe-haven assets like gold.
The ongoing government shutdown and escalating trade wars abroad are fueling anxieties, prompting anxious investors to seek refuge in gold. The prospect of lower interest rates also makes gold a more attractive investment, as it offers a hedge against inflation. Over the past week, gold prices have risen by 6.7%, making this one of its best weeks to date.
However, not everyone agrees that gold is a reliable investment. Critics argue that it's not always an effective inflation hedge and that there are more efficient ways to protect against potential losses. The Commodity Futures Trade Commission has previously warned people about the risks of investing in gold due to its high volatility.
The surge in gold prices also comes with environmental and health consequences, as mercury usage in artisanal mining is on the rise. Mercury pollution poses serious risks, including neurological and developmental harm, affecting not only workers but also residents in affected areas.
Investors are diversifying their portfolios by investing in silver, which has seen an even bigger percentage jump this year, up about 70%. Silver futures are trading at over $50 per troy ounce Friday morning. While the demand for gold is high, it's essential to consider all the factors and not put all your eggs in one basket.
As tensions rise globally, investors are turning to gold as a safe haven, but experts caution against relying solely on this asset class. With record-high stock prices and subdued inflation, questions remain about what's driving investors' renewed appetite for gold.
The ongoing government shutdown and escalating trade wars abroad are fueling anxieties, prompting anxious investors to seek refuge in gold. The prospect of lower interest rates also makes gold a more attractive investment, as it offers a hedge against inflation. Over the past week, gold prices have risen by 6.7%, making this one of its best weeks to date.
However, not everyone agrees that gold is a reliable investment. Critics argue that it's not always an effective inflation hedge and that there are more efficient ways to protect against potential losses. The Commodity Futures Trade Commission has previously warned people about the risks of investing in gold due to its high volatility.
The surge in gold prices also comes with environmental and health consequences, as mercury usage in artisanal mining is on the rise. Mercury pollution poses serious risks, including neurological and developmental harm, affecting not only workers but also residents in affected areas.
Investors are diversifying their portfolios by investing in silver, which has seen an even bigger percentage jump this year, up about 70%. Silver futures are trading at over $50 per troy ounce Friday morning. While the demand for gold is high, it's essential to consider all the factors and not put all your eggs in one basket.
As tensions rise globally, investors are turning to gold as a safe haven, but experts caution against relying solely on this asset class. With record-high stock prices and subdued inflation, questions remain about what's driving investors' renewed appetite for gold.
. Like, I get it, economic uncertainty is real and people are panicking. But isn't investing in gold just a way to delay the inevitable? Meanwhile, silver's on fire and nobody's talking about that 
. Not to mention the mercury thing... like, can we even talk about how messed up that is? 
I've got friends who have invested big in gold and they're freaking out because of mercury pollution in artisanal mining...like, isn't that a major red flag?! 
. Can we diversify our portfolios without completely missing out on potential gains? 
. I mean, sure, it's up 6.7% in one week, but that just shows how volatile markets can be. I've seen this before, people panic and throw money at gold, thinking it'll save them. Newsflash: it won't 
so i think its crazy how much gold is going up right now 
but at the same time, some ppl are saying it might not be the best investment choice 
and i'm not saying it's wrong, but let's try to find ways to invest that don't hurt ourselves or the planet, you feel? 
. The price has risen by over 50%. Not bad, but is it sustainable? 
Meanwhile, ETFs tracking gold are down about 3% this year 
. What's driving the renewed appetite for gold? 
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. That's a lot! But do we really need that much? Is it worth the environmental and health risks associated with artisanal mining? 
They're now holding about $2 trillion worth of gold. That's a lot! But what does this mean for global markets?