There was always a because gold is the most precious and valuable of all metals. Gold, a yellow metal has fascinated human mind for so many centuries. But now, as per the current trend the fascination for gold has crossed all boundaries. And this has been made possible with ever rising prices of gold, that has created a new and profit earning market.
Financial market has seen a huge increase in the number of new gold buyers. It has been rightly said tha as per the current statistics is on an all time high and every one is trying to in cash this high in the gold market.
TRENDS IN GOLD PRICE
This debate is about the speculation over the trend of gold price. The year of 2008 has seen gold rising to unprecedented heights. The year of 2008 has been a trend setter for gold price, opening a completely new market and introducing so many new gold buyers. The very first day of trading of the year 2008, saw establishing of new record. The first day it saw an all time hike in the gold price. That is he time when the speculation over the gold price began, people were in double mind, whether the gold price increase is just a temporary phase or is it going to maintain. By mid – February 2008, the gold price jumped to £10 per ounce. By 21st February gold price has crossed unimaginable records at $950 and has almost reached $1100 by now. A very commendable rise in such a short phase of time!
SPECULATION AND GOLD BUYING TREND
With this current trend and unimaginable rise in Gold price, also began the severe rounds of speculation. These types of speculation created a suspicion in the mind of the new and first time gold buyers. Gold buyers speculated that this huge rise in gold price is just temporary and because of this they were a little cautious in buying. But sooner they realized that this high is to remain and has entirely changed the