As is the rule during times of war, the price of precious metals soared during February 24, 2022. Signs of price growth had already appeared a few days in advance, when, for example, on February 18, the price of gold was around $ 1,900 per troy ounce. Two days later, gold touched the price of $ 1,911. At 4 a.m. our time, around the time Russia invaded Ukraine, gold began to rise sharply, reaching noon at $ 1970 an ounce at noon.
The markets expected an invasion, so the price of gold has risen in recent days, until today (February 24, 2022) it has risen sharply by 3 percent,
said the business director of Golden Gate Pavel Ryba. Further developments cannot be predicted well enough at the moment, depending on what happens next. If it is a short-term shelling, not a ground invasion, then the price of gold could fall again,
added.
However, the price of gold has not yet reached its maximum in July 2020, when due to the beginning of the covid pandemic, it shot up to the limit of $ 2,036 an ounce.
According to the ČTK České noviny server, the price of other precious metals also rose, for example silver strengthened by 4.6% to $ 25.2 an ounce, platinum by 2% to $ 1,116. In addition to metals, the price of oil also rose by 7.5 percent to today’s $ 98 per barrel.
Investing in gold pays off, especially in times of calm, when the world’s economies are working, stocks are doing well, people have jobs, they trust currencies and they are not afraid to spend. At that moment, it pays to buy gold, either as a one-time investment, or to save in gold with a regular monthly amount. Investors recommend holding around 10% of their assets in gold and investing other resources in stocks and real estate.
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As the world’s balance shifts, whether due to high inflation, monetary reform, a disease pandemic or a war, the price of gold rises sharply. This is the moment when you can make money on gold. In the meantime, it acts more as a store of the value of the money invested.
If you buy gold at a time when its price is so high that it is already mentioned in television news, then it is possible that you will have to wait several years for even higher growth. This happened, for example, after the global financial crisis of 2008, when the price of gold rose sharply until 2012 to $ 1,837 an ounce, before falling sharply by about $ 700. Gold did not reach its value in 2012 until the start of the covid pandemic in 2020.
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