At the moment, the price is $1493.
While it does not seem such as a great deal between $1499 and $1500, the fact is that $1500 is a psychological price level.
That means many people who have gold at home will feel happier and more positive with gold price per ounce at $1500 than $1499.
Once the gold price manages to cross the psychological price level, it may stay above the price level for the foreseeable future.
The question is how high can gold price go?
It seems that the upward trend is unstoppable at the moment.
As long as the economy of US does not recover fully, and the value of USD remains at such a low rate, the price of gold will continue to go up.
The problem is not how high gold price will go. The issue is how to afford.
Gold, as in pure gold, is out of reach of many people.
Even many gold jewelries with just a few percentage of gold element is selling at crazy price.
Since the governments of the world hold most of the gold in reserve, the only way for gold price to suffer a drastic drop in price is when the governments start selling gold in the open market.
That is unlikely to happen anytime.
Even the US government, as the largest shareholder of gold in the world, is not so stupid as to dump gold in the open market.
Silver price is also rising at a spectacular rate.
In fact, as a percentage increase, the price of silver exceeds the price of gold.
Since silver is selling at $43 per Troy ounce, a dollar increase translates to a larger percentage increase.
If you cannot afford buying gold, especially now that the gold price per ounce is hitting $1500, you can consider buying silver as an alternative investment.
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Hello. Base on my current study, gold price will go dramatically high.. dont calculate by days, but by month and year. Then you will see the gold price increase.
ReplyDeleteCheers,
Current gold and silver prices per ounce