What does the gold price really mean? We all know how much gold is worth; currently it’s worth $1,200 (or slightly more) per troy ounce. However, gold has value much higher than just liquid cash value. Gold has always been highly valued throughout human society. Sometimes gold has even been associated with worship.
King Solomon’s temple was made of gold, as was the Ark of the Covenant. In Christian art, a shining gold color is often mentioned as accompanying the saints. Many kings in medieval times wore golden crowns and jewelry showing their wealth and authority. You might already know that gold is the preferred color of a wedding ring. Fitting too, since gold usually symbolizes eternity, perfection and glory. Gold has also been associated with the harvest, the sun and the summer months.
Gold price is known worldwide. No wonder international organizations like the Olympics Committee, the Academy Awards, the Nobel Prize Committee and the Golden Globe Awards reward their inductees with gold statuettes. Even credit card companies bestow their most valued members with “golden member status.”
Last but not least, who could forget King Midas who had the miraculous ability to turn things into gold? Unfortunately for this mythological king, every person he touched also turned into gold, including his own daughter.
Therefore, unless you have a magical power that might be used against you or result in your karmic comeuppance, there’s no reason to avoid purchasing gold coinage and bullion bars. The gold price is actually much higher than its suggested cash trade in amount. You’re talking about a precious metal that can be taken anywhere in the world and converted into practically any denomination. Gold is not only a protection against dollar fall out, but it’s also works as a hedge against inflation, regardless of what country you live in.
Don’t be afraid of the White House confiscating your gold. There is no sign of a gold hoarding law coming any time soon. Besides, if the worst case scenario happened, you could put your gold in an offshore account and be free from government interference. Now is the time to buy gold—while there is still a healthy supply and while it is openly available from online stores. (Yes, if hoarding laws are ever passed, you can kiss online sales goodbye!)
Why not talk to a coin or metals dealer about gold price? You may be surprised at just how affordable gold is in 2010.