Gold has been taking a beating in the New York Mercantile Exchange over the past few months as the price of gold continues to plummet. Gold hit a record low in nearly two years on Friday when gold fell under $1,500 an ounce igniting stop losses worldwide. It’s leading many investors wondering if Gold is as precious as it once was.
It has gotten many investment bankers and money managers losing faith in the once booming business. Recently, investment banking company Goldman Sachs recommended that investors sell their gold causing a stir in the Gold community.
Although it will take a while for Gold to fully recover, the next week is crucial for the millions of investors around the world as it’s determined if Gold will continue to plummet or if Friday’s numbers were merely a fluke.
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