The price of gold has set a new historical record

Experts predict a further increase in the price of the precious metal.

The price of gold continues to rise rapidly. The price of the precious metal has already reached a record high of $2,200 per ounce this year: apparently, this is far from the limit. So the forecasts of some analysts that the price of gold will reach $3,000 in the next six months are starting to seem increasingly more plausible.

The current situation highlights the importance of gold as a financial asset. Growing interest in the precious metal is evident among both individuals and nations. For instance, India has already accumulated over 711 tons of gold in its gold reserve. Moreover, the country plans to increase its purchase volumes by the end of this year. Ordinary Indians are also stocking up on the precious metal.

There are more and more reasons to buy gold!

Buying gold is one of the reliable ways to preserve and accumulate savings. Why? There are a number of reasons for this:

1. Demand. Interest in gold continues to grow both among ordinary people and countries.

2. Ease of purchase. You can become the owner of gold in just a few clicks, regardless of your level of education or experience in financial matters. You can start by purchasing small-weight gold bars and gradually increasing your personal gold reserve.

3. Protection against inflation. Over time, money loses value — you can buy fewer and fewer goods and services for a certain amount. Contrastingly, gold never loses its value — its price grows steadily.

4. Portfolio diversification. The price of gold is essentially unaffected by the costs of other assets, such as stocks or bonds. If you’re an investor, buying gold can help reduce the overall risk level of your portfolio and increase its stability.