On the 5th January we saw gold take an up turn in its value, and it has been continuing ever since.
Yesterday (15th January 2014) Switzerland made the unusual move to end its peg to the Euro. As a result of the Swiss action, currency brokers around the world were affected by heavy losses. One example of this was Alpari, based in the city of London, who had to enter into insolvency. Sadly the list continues to grow of those firms who have been negatively affected by the decision.
What this decision also did was it also had an impact on the price of gold.
Gold increased over night in value by $15, to £1277. Speculation continues to grow that the price will rise even further, with companies FX companies looking to protect themselves as best they can, by diversifysing into gold.
Until this can be confirmed, we will continue to monitor the price of gold as we do, however for those who have invested in the precious metal, the future looks very bright.
If you have considered investing in gold in the past and want to review your options even further, we suggest you check out our full gold ira review page, where we have fully investigated the main providers of gold.