The value of gold is linked with many factors. The economic and political climate have a huge impact on the price and therefore on the global gold market. Therefore, the price of gold can fluctuate quite frequently depending on the international political and economic climate.
1) The Value of gold
Its price has increased of around 20 £ from one day to another. This was explained by the European Central Bank that believe the Eurozone and the EU will face a slow economic growth by the end of the year. The Europeans main leaders, including Mario Draghi has stated he will try to stimulate the overall global European economy by using low interests’ rates within the economy. This initiative will have for aim to improve the financial and economic context in Europe in the months and years to come.
2) Brexit situation benefits the price of gold
Moreover, the Brexit situation has most certainly impacted the value of the country’s currency. It has also decreased, especially when compared to the dollar. The uncertainty surrounding the Brexit deal and the relationship between England and the rest Europe remains unclear which doesn’t push people to invest into the British economy. Both Europe’s slow forecast and the constant worry over the Brexit situation has put a strain on the overall value of both currencies: The Euro and the pound.
However, Europe and the EU aren’t the only having to face slow economic growth. According to a few figures and market research, the US have had to face with employment crises and some of their stock markets have dropped. Moreover, a few of the Chinese markets have also been impacted. Just to give an example the Shanghai Exchange has dropped of about 4%.
When looking into the gold market it’s quite favourable. Indeed, gold has performed well this year despite the poor overall economic situation. Its value remains good and it’s a very promising market as the demand remains high. According to forecasts, this trend will improve in the weeks to come. This is the perfect time for anyone wanting to buy or sell gold. Indeed, gold has never been in this good of a position hence if you want to buy or sell gold you should do it.
3) Sell your gold at the best price
If you have scrap gold to sell, this is the good time to sell gold in London Gold prices are high so it gives a hedge to the prices you will be selling your scrap gold for. At London gold center in Hatton garden the public selling Gold is constantly increasing. For any Quote contact London gold center Hatton Garden.