Gold prices are closing out the week on a soft note, falling below $1,930 an ounce as of Friday morning amid a strengthening dollar. It’s been a week during which the precious yellow metal, which seemed to be on its final approach for $2,500+ territory early last month, has been rerouted. It’s perhaps little surprise given the fact that the economy is showing signs of picking up again while the dollar strengthens and other indicators point to better times ahead once a vaccine for COVID-19 is tested and administered throughout the public.
Perhaps gold will perk up once again as the bullion commodity faces more pressure from both industrial and luxury sectors. Yet, for now it seems more like a buying opportunity for those who want to obtain gold while it’s still below $2,000. Many speculators are buying American Gold Eagles, pre-1933 United States gold coins, and vintage gold coins from around the world that are obtainable at or very near melt prices.