Up 9% in the Past Month, Is It Time to Start Buying Gold Again?
Gold is mounting a recovery after suffering a sharp decline from its January peak.
Overview
Gold is one of humanity's oldest stores of value. It was often used as a means of exchange in the past, but investors now hold the shiny yellow metal as a hedge against economic and political uncertainty, both of which are at heightened levels right now.
Gold soared to a fresh all-time high of over $5,400 per ounce in January. It then spent several months consolidating its gains and lost over one-quarter of its peak value. In light of the elevated inflation rate, the raging geopolitical tensions in the Middle East, and the upcoming U.S. midterm Congressional elections, the yellow metal has now climbed by 9% over the past month.
Details
Those uncertainties are likely to persist for at least the next few months, so now might be a good time to start buying gold. Purchasing physical metal is the surest way to profit from any potential upside, but an exchange-traded fund (ETF) like the SPDR Gold Shares ETF (NYSEMKT: GLD) can be a more convenient alternative.
Source
Originally published at www.fool.com.