The former director of the US Mint, Ed Moy says the actual value of gold right now is much higher than is reflected in current prices – making a strong case to buy now. Saying that investors are flocking back to gold as inflation increases begin to creep in, Moy believes that the actual price of gold now should be close or even higher than the record levels we saw last year. He explained, “Part of the confusion in gold is that the spot price of gold remains around £1,259 ($1,735). And it should be higher. But the true price of gold is the spot price plus the premiums that investors are willing to pay for that physical gold. What you do is you add £217 ($300) or £254 ($350) on top of the spot price. And you ended up with gold currently being around £1,525 ($2,100), which is around the record highs that we saw in August.”
Buy now before market prices catch up.