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If you are looking for {long term investment options, right now is probably a great time to invest in precious metals. In other words, the long-term outlook for precious metals is good, especially for those interested in the gold and silver markets. Although the price for gold has been trending down for quite some time, there will be a bottom and given past experiences, it is very likely that gold will rebound to new highs in the long-term. In the short term, precious metal investors will be better off selling, but if you want long term returns, you should be looking to buy now.
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So far for 2018, gold prices have fallen by approximately 7%, caused mainly by the strength of the US dollar and rising interest rates. There are some who believe that gold is losing its status as a safe haven but those who do tend to invest for the short term rather than for the long term. Spot Price for gold is currently (14:16 GMT,Thursday, August 9th 2018) at $1,216.30, up $5.94 or 0.49%.
Some analysts believe that silver has been oversold and that the metal has under performed in recent times because of the effects of actual and potential trade wars, as well as the impact of a stronger US dollar. For the week ended August 3rd 2018, silver was up 0.26% to settle at a price of $15.425 per troy ounce with a weekly loss of 0.19%. As at Thursday morning (14:16 GMT) of August 9th 2018, spot silver traded at $15.54, up $0.13 or 0.84%.
Both platinum and palladium have gained, with platinum trading at $842.60, up $11.60 or 1.39%, and palladium trading at $902.50, up $1.00, or 0.11%. Those looking for long term investment options should seriously consider investing in precious metals at this time.
