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Published: Oct 28, 2022, 10:12am
Reviewed By
Reviewed By
The price of gold today, as of 9:08am, was £1,434.78 per ounce. That’s down 0.13% on yesterday’s closing price of £1,436.67.
Compared to last week, the price of gold is down 1.18%, and it’s down 5.33% from one month ago.
The 52-week gold price high is £1,534.10, while the 52-week gold price low is £1,432.31.
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Many investors consider gold to be the ultimate safe-haven asset. When the prices of shares, bonds and property drop sharply, gold may hold its value - and its price can even increase as nervous investors rush in to buy.
Investing in gold is also a way to add diversification to your investment portfolio. When you hold a diversified mix of different assets, including gold, varying returns can protect the value of your investments.
There are several ways to invest in gold. Each has pros and cons…
One option is to buy gold in physical form:
Alternatively, investors can invest in gold indirectly:
You should invest in gold if you’re looking to hedge against risk or diversify your portfolio. Gold would not be your first choice to earn long-term capital growth.
Over the past five years, the price of gold has appreciated approximately 36% while the total return of the S&P 500 has been 60%.
Gold prices can be extremely volatile, and that means that gold isn’t an entirely stable investment. In fact, you can easily craft a well-diversified investment portfolio entirely without gold.
It should also be noted that gold in its physical form, unlike other investments, does not produce an income.
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Capital at risk. Investments can go up and down in value, so you could get back less than you put in. 78% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
Studies have found that gold may be an effective way to defend your wealth against inflation, but only over extremely long periods of time, measured in decades or even centuries.
Over shorter time periods, the inflation-adjusted price of gold fluctuates dramatically, making it a poor near-term hedge for inflation.
*The gold price data above is provided by Zyla Labs, which sources asset price data from a wide range of sources. This gold price represents an average of spot gold prices on several leading metals exchanges. Prices are updated every business day.
Having worked in investment banking for over 20 years, I have turned my skills and experience to writing about all areas of personal finance. My aim is to help people develop the confidence and knowledge to take control of their own finances.
I am the UK editor for Forbes Advisor. I have been writing about all aspects of household finance for over 30 years, aiming to provide information that will help readers make good choices with their money. The financial world can be complex and challenging, so I'm always striving to make it as accessible, manageable and rewarding as possible.