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Is Buying Gold a Good Investment?
Historically, gold has played a major role in the economies of many nations. Although it is no longer a primary form of currency, gold is still a solid, long-term investment and may be a valuable portfolio addition, particularly in a bear market.
Gold was considered a universal currency for hundreds of years. Due to its recognized value worldwide, a gold standard was used as far back as the Byzantine Empire over 1,500 years ago. Until recently, in fact, gold was used as the world reserve currency.
In 1944, upon the signing of the Bretton Woods Agreement, the dollar replaced gold as the world reserve currency. But even after this agreement, gold continued to be used to back up various countries’ domestic currencies. However, in 1971, Richard Nixon removed the gold standard in the U.S. and other countries soon followed.
Advantages of Gold as an Investment
Although it is no longer a primary form of currency in the developed world, gold remains a popular investment for a number of reasons.
- Liquidity. Gold can be easily converted into cash anywhere in the world. Aside from actual cash, the liquidity and universality of gold is unparalleled.
Read More: http://www.stockgoldmarket.com/is-buying-gold-a-good-investment
