Money Morning Resource Specialist Peter Krauth - a former portfolio adviser and a 20-year veteran of the resource market - explains why today's gold price is going down.
- Why Today's Gold Price Is Going Down – October 2014
- October Gold Prices Up 1.34% on This Bullish News
- Why gold prices today are at the lowest level since Christmas
- Why Gold Prices Are Up Today from 9-Month Lows
- Why Gold Prices Today Are Rebounding from an 11-Week Low
- Gold Investing 2014: Gold Will Continue to Outperform Major Assets
- Why Gold Prices Today Are Skyrocketing Above $1,300 an Ounce
- Why Gold Prices Fell 3.3% in July After an Early Climb
- Strangest Gold Market News of 2014: Top Refinery Loses 2.7 Tons of Gold
- Gold News: China Poised to Overtake India as Biggest Gold Consumer
- The "Smart Money" Is Buying Hard-Hit Gold Stocks Now
- Gold Price News Today
Gold prices today (Friday) fell to fresh new lows below the $1,200-an-ounce threshold for the first time since mid-December.
Gold investing 2014 update: Gold prices have had a strong first half in 2014. At the midpoint in July, the yellow metal had gone up 9.2% in value.
Investors in physical gold have benefited from the rise. Throughout the year, gold has consistently outperformed other major asset classes like U.S. treasuries and equities.
Gold prices today (Wednesday) were up a whopping $18.70 an ounce (up 1.43%) as of 12:30 p.m. EDT. Spot gold traded at $1,307.30 an ounce after closing at $1,288.60 an ounce in the previous session.
Gold prices are up for the year, but fell 3.3% in July.
Gold started the month off strong as geopolitical conflict rocked parts of Europe.
Gold market news, July 30, 2014: On July 25, South Africa's Rand Refinery - the biggest processing facility for gold in Africa and one of the biggest worldwide - announced it will receive a shareholder loan to make up for "lost" 87,000 ounces (2.7 tons) of physical gold in its inventory. The press release describes what amounts to a $112 million loss at current gold prices, making this one of the strangest stories to hit the gold market in 2014.
Demand for gold in China is skyrocketing. Thanks to an enriched and growing middle class, China's gold consumption will reach a record 1,000 tons this year - up a whopping 29% year over year. At this pace, China will soon surpass India as the world's biggest buyer of the yellow metal.
Thanks to the crisis in Syria, gold prices have had a nice run lately. But now, with Wall Street in the middle of another "hate gold" campaign, is it time to buy or sell the yellow metal? This is what some of the world's top investors are doing...
Today the gold price seems to be taking a break from its recent run-up, but not before briefly pushing past the psychologically important $1,400 level.
Following a 1.8% surge on Friday, gold prices hit $1,407 in trading in Asia early this morning (Monday) and then pulled back to $1,390 before settling at about $1,395 an ounce.