Where Are Gold Prices Going This Week?

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Gold Prices

This past week was rough for many bullion investors. After hovering at or above $1,500 per ounce for some time now, gold prices fell below $1,475 by the close of last Friday and will be opening the new week around the $1,460s. You could almost hear the groans as countless gold bullion investors who bought stacks of gold during the run-up above $1,500 collectively lost untold millions of dollars over just a few days.

Of course, not all is lost for good. This is gold we’re talking about. One bad day on the stock market or any international tension (and there’s sadly no shortage of those) could send gold prices right back up through the roof again. Helping suppress gold prices this past week was actually a bunch of otherwise good news… Wall Street trade indices are hitting unprecedented numbers, unemployment rates continue staying low, and housing starts and consumer spending are looking up. Of course, there’s always the big elephant in the room — ongoing international trade talks with China and other economic partners abroad. Let’s just say that things could be going better in that department.

Like President Donald Trump or not, domestic and international policy is in a sense of flux these days with any number of erratic signals from the Oval Office. This keeps many in the United States and around the world on their toes. By extension, this also translates to bullion prices never being far from rebounding when investors get nervous. With bullion prices down, for the moment, it might be a great time to stock up on gold and silver coins before prices inevitably rebound.

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