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The Value of Gold Continues to Drop

GoldOften described as the safe haven in difficult financial climates, for the last few years the value of Gold has remained high, and many Binary Options traders have been making significant financial gains by using Gold as the basis for their daily trades.

However, with the prospect of the USA shortly to increase interest rates that announcement has had something of a devastating effect on the value of Gold, in fact at the start of the week its value crashed to the lowest amount seen in five years.

Many Binary Options traders knew that one of the many different effects of the US showing an increased possibility of increasing their interest rates would be a drop in the value of several precious metals, and if you are one of the many traders who had placed trades on Gold dropping in value at the start of this week then well done as you will be showing some very large profits!

The current price of Gold is around $1088 an ounce which is showing an overall drop in value this week of 4% and when you compare that with the value of Gold back in 2011 when it was trading at $1920 an ounce that is a huge decrease in its value.

If you have been watching the value of Gold with interest over the last few weeks then you will possibly be thinking of placing a few well thought out trades on its value in the coming weeks or months, and another thing to consider if you are thinking about placing such trades is the over in the UK they too look like they will be increasing interest rates sooner rather than later.

It is not only Gold which is showing a marked decrease in its value for other precious metals such as Copper, Silver and Platinum have also been dropping in value, with Copper being particularly effected due to the downturn in output from countries such as China and India.

If you do fancy casing in with some precious metal related Binary Options trades then all of our featured Binary Options Broker will offer a range of different trading opportunities, and with the likelihood of a continued fall in the value of most precious metals you should be looking to place plenty of trades at those Brokers many of which are also offering new traders some generous sign up bonuses too!

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