Gold Price & Gold Bars
With today's uncertain economic environment, the governments of the world are printing more money this year than in the previous decade. The US Government is expected to face budget deficits totaling nearly $10 Trillion dollars in the next few years. This will saddle each US citizen with over $250,000 of debt, which may take generations to pay off!
Ensure your future and maybe even that of grandchildren by investing in gold. An ounce of gold retains its value as a store of wealth. It is not an investment in the traditional sense, but it has retained its buying power and that is why it has been used as an instrument of monetary exchange for over 5,000 years. An ounce of gold today is worth about $1000 (check the above graph for the current price of gold) which will buy you a high-end suit. Forty years ago, it was $35 per ounce and it had the same buying power. Seventy five years ago, it was only $20/oz and again, it would buy you a very nice suit!
Buying gold is very easy. You can purchase it online very simply. You can buy bullion coins or gold bars. Gold bars are the simplest and most easily exchangeable form of currency. You can go to any place on the planet and I guarantee you will find someone who knows what the current price of gold is and will exchange your gold for the local currency with a very small markup (usually 5%).
1 troy ounce of gold is equivalent to approximately 31 grams of gold (actually its 31.104 gms of gold). If the current price of gold is currently $1000/oz, that means the cost of 1 gram of gold is $32.15 (1000/31.104= 32.1502).
Based on this simple calculation whenever you want to buy a gold bar just calculate the cost of gold from its current spot price. If you're getting a value close to its spot price (plus a small markup - everyone wants to make money) then its a good buy. Even with gold trading at $1000/ounce, you can still buy a gram of gold for under $40! That's less than the cost of a full tank of gas!Start buying a little bit of gold whenever you have an extra $50 lying around and someday soon, you'll be pretty glad you did.
