We are all watching the gold market after seeing Gold increase substantially last Friday.
Bullion hit $1365, the highest level since 2016 on that Friday, an 18 month high for our favorite metal. The increase is of course attributed to the dollar falling. And after reading about this all weekend, it seems the majority believe friction resulting from the “America First” trade policy weighed down the dollar and supported the gold because historically gold is where investors go when they are not confident in the markets.
Others news outlets claim possible geopolitical tensions helped to drive gold up such as tension between the US and North Korea and protests in Iran. Wall Street Journal had an excellent write up this morning regarding this. Investors seeking protection against an unexpected rise in consumer prices also favored gold as an inflation hedge. Whatever the reason or the combination of reasons, we are staying tuned for tomorrow night and our President’s State of the Union address. Depending on what is said, we will be eagerly watching the gold price.
If you buy gold from the general public, it is always a good time to refine. Get in a position to sell when you need to. We have refine & hold programs to help you to get ready when change comes.