Special Review: Gold

Gold

Gold is a chemical element with the symbol of Au and atomic number of 79. It is a dense, soft, malleable and ductile metal with bright yellow colour and luster that is consider attractive, which is maintained without tarnishing in air or water.

I'm sure everyone knows about the gold rush madness in 2012 and early 2013, where the world economy is in a mess and gold value is rising like mad. When gold is at $1,300, there were many who cashed in their gold as it was really worth more than what they had purchased in decades. Then gold continued their rally as countries started a currency war where they are trying to lower the value of their country's currency in order to spur spending as interest rates were at all time low.

Gold's Rise and Fall

When gold reached $1,800, people were calling that gold will reach to $3,000. The herd went wild as everyone was buying gold while smart players such as George Soros were dumping them. Gold went on to reach a high of $1,900 before falling to the current low of $1,200. So called "Investment companies" dealing in pyramid selling of gold became scams.

So where is gold heading now? An estimate will be around $1,100. After that will gold rebound or not, we shall wait for a signal.