Gold prices are high and volatile, but jewellers still see more gold and urge investors to start.
Due to the easing of worries in international trade, spot gold fell short. But jewelers in the industry believe that before gold prices rise further, it is the right time to buy gold. They said that the current geopolitical structure and sustained trade disputes will continue to support gold prices.
Dean, chief executive of SMS Jewelry Group, said that because of the geopolitical situation, the commodity market faced with anomalies and uncertainties. But for gold, it is likely to continue to rise as a risk aversion asset. Although gold prices have caused panic among consumers, they prefer stable gold. But that did not stop shoppers who wanted to use gold as an ornament. Some companies even take advantage of this opportunity to replace old products with new ones.How to buy foreign exchange
Sylla Judith said: but when prices are stable and remain at this level, people will get used to it.
Despite the steady rise in gold prices, consumer purchasing power for gold remains strong.
In April, the price of gold was $1300 an ounce, which is now more than $1500 an ounce.
VATFX said: as the price goes up, some people think that gold trading and buying new jewellery are good things, while some people just buy because they believe that prices will continue to rise. In the long run, gold seems to be rising. It is still a powerful investment tool.
He said that because of the sharp rise in gold prices over the past two months, the market reaction was mixed. However, many clients profit from investment gold wafer and gold bars.
Vatfx said: I expect this trend to decrease as gold prices turn to bullish, because when investors see gold prices continue to rise, they will choose a better opportunity to sell them.
Vatfx also noted that customers would still buy gold on special occasions such as weddings or gifts, so as not to pay higher prices in the future.
Faiz Wahab, a free financial planner, believes that some buyers may buy gold now to boost gold prices further. However, he suggested not to do so. This is not a good move, because gold investment is a long-term one, he said. People should wait for the right time (when prices fall) rather than rush to buy.
Finance and economics APP reminded that at present, the whole market is worried about the recession of the economy, so it is heading for gold to seek refuge.Against this background, the possibility that gold price will break through 1600 US dollars / ounce will be great. The new bull market of gold will come.
Real time quotes analysis software shows that Beijing time at 11:25 on August 30th, spot gold now reported 1525.03 U.S. dollars / ounce.