‘Bitterly’ as Gold Prices Drop 3 Percent to $1,848 per ounce
Posted January 21, 2019 06:53:55Gold is currently trading at an average price of $1.849 per ounce, a drop of 3 percent from the price it hit on January 16.
This was a slight increase from the $1-1.98 it hit in early January and is more than the 5.9 percent drop in silver’s price during the same period.
Gold and silver have become a major component of investors portfolios in recent years, with gold trading at around $4,300 an ounce and silver at around 1,000 ounces.
However, gold’s price has seen some major dips in recent months.
In February, it plummeted by $2.75 per ounce to $2,827 per ounce.
At the same time, silver plunged by almost 4 percent to $3,250 per ounce in early March.
In May, gold lost almost 5 percent to a record $2 in price.
However since then, gold has recovered and silver is trading above $3 per ounce and gold is now trading around $3.25 per ounce according to data from Bloomberg.
The price of gold fell more than 7 percent from its record high in July, but gold has since rebounded.
Gold has been trading around the $4-4.00 an ounce level since the beginning of the year.
Silver is currently selling for more than $2 per ounce after dropping to a low of $2 on Friday.
However as the price of silver continues to climb, it is also dropping more than its metal counterpart.
Gold prices are up more than 30 percent over the past year, and silver has risen nearly 12 percent.
It is hard to imagine gold prices falling any time soon, but the recent drops have given investors some hope that the gold market may once again be in recovery mode.
Investors have also seen some significant price gains in precious metals.
Gold and silver futures were trading at $1 and $2 an ounce, respectively, on Friday, a move that was driven by investors buying into the gold-heavy silver market.
The S&P 500 futures index, a gauge of U.S. equities, is also up around 10 percent since the start of the month.