Gold on Track for Quarterly Drop

Thursday, 28 March 2013
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Published in Gold Investing
Gold has been struggling to make any type of gains over the past several weeks. While the yellow metal has been up and down over the last few weeks, it has also hovered around the same $1,575 - $1,610 per ounce price mark. It seems as though the yellow metal just can’t break through right now and is somewhat stuck in the same place.

Fiscal-Cliff

Right now gold is on pace for a quarterly drop of around 5 percent, which would put it way behind if it is going to try and make a turnaround sometime thins year and end the year up for the 13th straight time. That seems unlikely at this point, but stranger things have happened. Gold could catch a foothold any day and go on a serious upward run. However, with everything that has happened this year it seems that the yellow metal is actually doing what it can to stay in this steady price area.

However, with all that is going on we have to remember that gold has always been a good investment, no matter what is going on around it.  The fact of the matter is that gold, like most other investments, has ups and downs, but the yellow metal has always come out on top. You only need look back over the last 12 years to realize that.

Many analysts thought that gold would make a run at the $2,000 per ounce price mark in 2013, or at least come close to it. However, that has not panned out, at least not yet, as gold has been unable to get a good foothold in 2013, and as of right now is actually down overall for the year.

So, what is the move to make here? Well, that depends on whom you talk to. However, if you judge gold by what it has done in the past, then you will understand that even when the price of the yellow metal is not skyrocketing it is still a good investment. As a safe haven, as a way to diversify and strengthen your portfolio, or as a way to make a quick ROI, gold will be, and always has been, a good investment.

So ride the current situations with gold out. More than likely you are going to see that gold will be just fine in the long run, even if it is struggling a bit right now.
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Jeremy Holcombe

Jeremy is a seasoned finance writer who has been studying the gold and silver industry for many years. His vast knowledge in the precious metals sector led him to Goldco Direct, where he is now one of their most recognized writers both on the site and around the web. Along with being a senior Precious Metals writer for Goldco Direct, he is frequently featured on many financial sites on the internet where they tap into his knowledge about gold. Jeremy is passionate about educating investors about the yellow metal as its price continues to rise to record breaking levels.