There's a New Bull Argument to Buy Gold, but Does It Pass Muster?
Precious metals may not be on the radar for every investor, but since the beginning of 2016, gold and gold miners have been among the market's top performers. Since touching $1,050 an ounce in January 2016, gold recently peaked at more than $1,350 an ounce. Higher gold prices not only help investors who buy the physical metal, but they're often a margin booster for the dozens of companies that primarily mine the lustrous yellow metal.
Why have we seen such a resurgence in gold over the past year and change? The obvious answer is that we've witnessed the U.S. dollar fall to greater than two-year lows against the euro and more than one-year lows against other global currencies. Gold and the dollar often move in opposite directions, so when the dollar is dropping, investors usually seek gold as a safe-haven store of value.
Image source: Getty Images.
Source: Fool.com
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