Gold Price Per Ounce

For the last 2000 years gold has been used as a currency. The gold price per ounce never really had a fixed price. It was always measured in relation to the goods and services that it bought. In 1944 at a conference at Bretton Woods a 'Gold Standard' was first introduced. Setting the dollar:gold ratio at 1/35th per ounce. The first gold price per ounce was $35.

The Bretton Woods system was initially a success and ran for 27 years. The US president at the time President Nixon under pressure form the war, decided to take the US dollar of the gold standard and they were now free to 'print as many dollars as they liked. This was a turning point and started the 'borrow now pay later' policy, which is why the US is in Trillions of debt.

The markets are driven today by Supply and Demand. All the gold that has ever been mined still exists today in the form of jewelry or by hoarding, compared to other commodities which are consumed. The gold price per ounce is also effected by the well known concept of Greed and Fear.

So what about gold investing?. Is it smart to buy at the current gold price per ounce? With unprecedented amounts of currency being created and with no place for interest rates to go, the US is in big trouble. There has never been a case in history were inflating the money supply has worked. But it also creates a fantastic opportunity for the educated investor. People who now understand what is going on with gold have a once in a life time opportunity. Which is great for you.

Most people think that investing in gold and silver in complicated and should only be left to the professionals but that is not the case. It is actually a very simple process to get started in investing in the gold market.

Firstly it is very important to buy the physical metal first. The next step is to find a secure dealer and have the metal stored or taken home. Just doing that one step will keep you way ahead of most of the professionals. If you are more advanced, then you can buy the gold mining shares or EFT's to give you more leverage.

Today the gold price per ounce at only $1059 approx is an absolute bargin. Which is why you are seeing many gold adverts on TV trying to get you to send them your gold.