How to find the current price of gold per gram in sterling

Gold has traditionally been seen as a safe haven during times of economic strife. When currencies and markets are troubled, canny investors move their assets into reliable and traditional forms of assets like gold, silver and other precious metals.

During the credit crunch and this current recession, things are no different. Confidence in the markets is at an all time low and confidence in currencies is even worse, dragged deeper by the quantitative easing action undertaken by British and American financial departments to strengthen the pound and the dollar.

So the smart money has diversified and judging by the change in prices, there has been a lot of diversification into gold. In early May, gold traded at $1,481.69 an ounce after rising to $1,489.79 earlier.This means that the price of gold per gram in sterling was just over £910.

Using online websites such as goldprice.org, you can keep an eye on the price of gold per gram yourself - better still you can use services of some companies like KeyTrade Bank who allow you to tune an online investment account which can tie your investment into the price of gold or other precious assets or commodities.

These investments take the form of two similar packages. The first as above in the case of KeyTrade bank takes the form of an index which is tied to the performance of the price of gold. As gold goes up in price so to does your investment. However if the price of gold falls, and many investors believe we may be in a gold price bubble at the moment, then your investment falls too.

The second of these packages involves investors buying a small amount of gold. The amount of gold is held in a bank in the investors name and the investor is given a certificate of ownership. Again the investments value can fall and this product can be quite high priced due to the cost of gold and the minimum investment needed to own a bar or bars of gold. Some may feel that this is the better investment for them due to actually owning an amount of gold.

Whatever investment option you do choose remember to consult with an independent financial advisor.

United Kingdom - Excite Network Copyright ©1995 - 2022