In both fashion and as an investment, gold is experiencing its moment in the sun.
As fashion designers infuse their collections with gold and jewelry designers show favoritism for yellow over white, gold prices have hit a 27-month high, reaching $315.20 a troy ounce. While a far cry from the $800/ounce days of the 1980s, the recent rally in gold prices is a sharp departure from the past few years, when gold prices sank to new lows.
According to the Wall Street Journal, Arnhold and S. Bleichroeder’s technical analyst John Roque has targeted gold to reach $340 an ounce.
Within today’s jittery economy, its soaring prices reflect investor’s hunger for the stability of gold. It also, according to the Journal, signals that investors are expecting inflation to return.