Gold is worth a lot of green today as the price of the precious metal hit an all-time high. Gold prices surged above $900 an ounce on Monday.
So what does that mean for any of the gold items you might invest in?
If you are looking to buy stock in gold, you'll pay more, as gold reserves are worth more. If you already have stock in gold, your investment continues to grow as the price of the metal increases.
For those of you who may be thinking of buying jewelry-- the price of gold jewelry has increased, but only slightly. Local jewelers say due to their good relationship with their buyers and the higher number of shoppers coming into their stores-- they've been able to keep the price down.
One industry you might not have thought would be affected by high gold prices is the computer industry. Turns out gold is a good conductor and is used in many computer parts from wiring to a lot of circuits. Local repair shops say consumers may feel the pinch if companies have to buy parts in bulk or have newer machines that will have to be replaced by new parts.
Experts say worries about the slowing global economy and a possible recession in the U.S. are fueling the price increase. |
