Gold has moved higher for the year, after stalling just below the $1,300-an-ounce mark for weeks. All the factors for the metal to rally to record levels might finally be falling into place.
Gold futures GCQ19, +0.16% settled at $1,346.10 an ounce on Friday, extending their streak of gains to an eighth straight session and up about 2.7% for the week. “When sentiment finally changes, gold could rocket from its currently well-established base to levels much higher than the prior highs established almost a decade ago,” Schiff says. Prices topped $1,900 an ounce in September 2011.People looking to establish long-term holdings in physical gold should use a combination of coins and bars, and gold certificates held off-site, says Schiff.
There are also gold trading platforms. Goldex doesn’t own gold, but facilitates dealing at the best prices for the metal. Metal sold through Goldex is 100% backed by fully allocated physical gold, says Sylvia Carrasco, its chief executive officer. “Every gold ounce belongs to the client, from beginning to end.”
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