What is the cost of gold right now?
In December of 2023, the price of gold was around $2000 an ounce, in less than two years that cost has more than doubled. For the first time in history, gold costs more than $4000 an ounce and is predicted to reach over $5000 by the end of 2026.
But why does the cost of gold keep rising?
Well, mostly it’s the economy and politics. With rising inflation costs, financial and political instability, and exceedingly high tariffs, central banks (the main financial institutions that manage a country's money, like the Federal Reserve in the US) all over the world have been buying up gold in order to create a safety net that will benefit their governments.
Other factors, like the falling worth of the US dollar and an increasing need for gold in technology, are contributing to the higher demand and lower abundance of gold.
Should I buy gold now?
Governments and billionaires aren't the only ones who can invest in gold. Even buying small amounts means you’ll have something that will never lose its value. Gold is incredibly useful, infinitely recyclable, and always in demand, so picking up a few extra pieces may cost you a bit now, but it's a smart investment for your future.
