In 2002, one troy ounce of gold would sell for around US$300.  Apart from a sharp downturn around 2008 when the financial crisis first hit, the rise in the price of gold has been fast and consistent.

Gold is now trading at over US$1700 per troy ounce.

Silver has also mirrored the rise in the price of gold over the past decade.  2002 saw the price of silver hovering around US$5 per ounce.  Nowadays the price of silver is well over US$30 per troy ounce.

It’s the perfect time to sell your gold and silver to EzyCash Gold Buyers in Panmure, Auckland.  You’ll receive an expert valuation of your gold and silver and a top cash price.

Broken and unwanted gold jewellery or silver jewellery, scrap gold or scrap silver – bring it into EzyCash Gold Buyers now and take advantage of the high prices of gold and silver.

To keep track of the price of gold go to gold-price.co.nz because while the gold price remains very high, that doesn’t mean it’s immune to fluctuations.

In January of this year, the price of gold was pushing US$1900 per troy ounce.  And the week ending March 4^th was the worst week for gold since December, with the price settling over US$12 per troy ounce lower.

There are numerous factors affecting the price of gold.  There is often a link between the value of the US dollar and the gold price.  That is, when one goes up, the other goes down.  In recent days, the outlook for the US GDP looks slightly more positive which has had an affect on the price of gold.

Other factors include:

Personal demand – jewellery takes up two-thirds of the world gold production.  As the world population grows and emerging economies (such asBrazilandChina) breed wealthier citizens, the demand for gold jewellery grows.

Central banks – countries hold around 16% of the world’s gold.  They can affect the gold price depending on how much gold they buy and sell (although under a world-wide agreement, countries are only allowed to sell 500 tonnes of gold each year).

Investors – gold is used by investors as a hedge fund against inflation.  As currencies like the Euro continue to be hit by the financial crisis, investors see gold as more reliable investment.

If you’ve invested in gold or have unwanted gold jewellery, broken gold or scrap gold that you are looking to sell, go to EzyCash Gold Buyers in Panmure, Auckland.

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There are many factors that are affecting the gold price.  While the price of gold was once scaling the heights US$2000 per troy ounce, it is now hovering between US$1500 and US$1700 per troy ounce of gold.

The US dollar, the Eurozone crisis and the demand for gold in huge economies such as India and China all has an affect on the price of gold.

But now, according to Feng Shui experts, the Chinese Year of the Dragon is destined to affect the price of gold as well.

Feng Shui is an ancient art and science developed over 3,000 years ago in China.  The belief is that the land contains energy and the quality of that energy can ‘make or break a kingdom’, or so to speak.

The Straits Times in Singapore interviewed experts about the influence the Year of the Dragon would have on business around the world and the gold price specifically.

The experts said that not only is this the Year of the Dragon but that the particular breed of dragon that will be ruling over us is the Black Water variety.  And that means trouble, especially for the price of gold.

Water will be the dominant element this year and will overwhelm the earth element, which represents a bad year for industries represented by earth.

This includes property, construction and insurance as well as mining and precious metals.  So the price of gold is destined to fall in 2012.

But if the financial year is looking volatile, fear not, as you can use the power of Feng Shui to combat it.  One website is selling Feng Shui gold bars – a symbol of wealth that will activate wealthy energy.

The gold bars have the dragon image carved into them and have ‘PURE GOLD’ and ‘999’ engraved on the top.

However we wouldn’t recommend bringing the gold bar into EzyCash Gold Buyers in Panmure, Auckland for an evaluation – the ‘gold bars’ are actually 100% copper and are gold dyed.

So to attract wealth instantly, bring your real gold (broken gold, scrap gold, unwanted gold) into Ezy Cash Gold Buyers and receive a top cash price.

The post Feng Shui Experts Predict a Fall in the Gold Price appeared first on EzyCash Gold Buyers.