Gold Reaching Closer to $2,000

Gold Coins

As the week kicks off, gold prices maintain buoyancy in the mid $1900s, with gold tracking around $1,970 per ounce during Monday morning trading. Signs that the United States dollar stiffened helped stifle some of the golden gains in the most recent trading sessions, but the picture presently looks good for the precious yellow metal: things aren’t slipping — yet, anyway.

While previous record highs in 1980 and 2011 were met with feverish peaks that suddenly broke, gold continues closing for a string of consecutive trading days at or very near new daily record highs. How long will this continue? Will gold finally break the $2,000 barrier? Or will it begin losing ground as we stretch through August?

Speculators remain giddy about the prospects gold offers and are investing in a range of bullion products, including American Gold Eagles and pre-1933 U.S. vintage gold coins. The former offers 0.9167-fine gold in convenient fractions of a tenth-ounce, quarter-ounce, half-ounce, and one ounce; the latter is relatively scarce 90% gold coinage that has massive crossover appeal with numismatic collectors. Either affords investors safe and highly liquid options for buying and selling gold.


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