Gold prices eased back a bit Monday morning as the dollar showed indications of some strengthening down the line. Gold was down as low as $1,955 an ounce in early morning trading before offering a little resiliency on its way to $1,960 — still off peaks above $1,970 after closing last Friday. These pricing peaks and valleys are nothing unfamiliar to investors, who have been riding the waves for months as gold has made its eventual climb to all-time record territory over the past weeks.
Many analysts still believe gold could reach and well surpass $2,000 per ounce, though that may take some time as the economy sputters back to life. One of the biggest wildcards is the strength of the dollar, which many economists speculate will carry suppressed value amid the multi-trillion-dollar stimulus packages issued by the United States government during the first months of the COVID-19 pandemic in the spring and summer.