Toronto, ON: The price of gold has reached a two-year high, and it doesn’t seem to be slowing down anytime soon according to market analysts. Boris Schlossberg, managing director of FX strategy at BK Asset Management says that gold is "retaking its mantle as the key defensive asset against Bitcoin, which has certainly suffered a lot over the last couple of months". Bitcoin’s price was surging at the end of last year but has since decreased in value by 60%. Gold, which is usually portrayed as the safe investment option, has risen over 3% this year. “2018 will be a good year for gold, either for selling it in return for the highest profit available or by investing in gold for future returns,” says Oren Kravchik, owner of Oren Cash For Gold, Toronto's leading gold buyer. “Last year everyone was talking about Bitcoin, but now people are realizing that gold is the safe and steady investment this year”.
Gold development in the market is not a fad, but rather, this increase has been years in the making. "We have this big base that's been taking shape really since late 2012," said Chris Verrone, head of technical analysis at Strategas Research Partners. The fact that gold has been able to exceed the expectation levels over the past 5 years is a positive as it’s trending to grow even more.
Gold is seen as the traditional asset with protections against a volatile market, with reduced risks compared to other investments in the market. Gold could be the safest and best bet right now. "For those interested in learning more about the value of their gold, visit a local store like ours for consultation and evaluations" Kravchik suggests.
About Oren Cash For Gold
Oren is [URL=https://www.orenisbetter.com/]Toronto's leading gold and diamond jewellery buyer[/URL]. They sell and buy precious metals at competitive prices. They buy used luxury watches and purses. Besides cash for gold, flexible and instant loans are also offered by Oren.