Today's Gold Market
The international gold market is a profitable and fast-paced realm that has steadily grown in value and popularity the past decade. As of mid February of 2012, the price of gold was $1,720 per-ounce, although the number is subject to fluctuation within the span of each and every passing business day.
Today's gold market has increasingly gained attention and popularity as the incredible volatility of the stock market and banks has come to the forefront in recent years. People who lost anywhere between hundreds and millions of dollars in the stock market crashes ushered in by unscrupulous businesses such as Enron have turned to gold as a means of ensuring that their investments are backed by something tangible.
After a huge spike in the price of gold in September of 2011 brought the per-ounce total to nearly $1,900, the value has slightly corrected itself since and the line on the overall chart headed downward for the first time in a few years in the past months. For perspective, the current price of $1,720 per-ounce is about six times the value of gold at the turn of the century only 12 years ago.
Statisticians and historians estimate that 100x the annual haul of all of the gold mines on Earth is what is currently being held in storage all over the planet, so the world's supply of gold is incredibly vast and steadily growing incrementally.
Many people have been capitalizing on the high price of gold in recent years by selling off unwanted, found or inherited gold at dispensaries and pawn shops. Although they usually are offered less than half of the current price of gold per-ounce, the reduced rate is still much higher than the overall price of gold was a mere decade and a half ago.