What’s Driving Gold Prices?


Orange County, CA: Gold prices are rising again.  But some wonder if it’s largely being driven by investors looking for a safe place to put their money as the economy continues to sour.  Buying gold or investing in gold has historically been a hedge against inflation.  But with inflation at some of the lowest levels on record, just what is driving these prices?

Some experts say that a large part of the buying is from foreign governments looking for an alternative parking place for their large sums of cash.  Keeping that cash in euro’s or dollar denominated accounts places them at a threat to currency swings.  While even China and India have slowing economies like the US, they still generate plenty of excess cash flow. Others suspect that individual investors, spooked in part by the ups and downs of the stock market, real estate losses, or low yielding cd rates are looking for safer and better places to put some of their money. Gold prices slid a bit in July, as expected, as traders, investors, and jewelers take their traditional holiday vacations.  But from a low of $1158 in early July, the price has risen to $1436 on today’s gold spot market.

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