Two themes have dominated gold news the last few months, and both have opposite effects on gold price.
INvesting in gold today
- Two Clashing Themes in Gold News Have Been Flat Lining Prices Since April
- New Gold Price Chart, Plus the Latest Gold News
- Why Gold Mutual Funds Are Attractive Investments
- A Gold Price History from Nixon to Obama
- Why the Gold Spot Price Is Hovering So Low
- New Gold ETF OUNZ Offers Something Different to Investors
- Gold Price Per Ounce at a 16-Week Low – Here's What Is Going On
- Why Today's Gold Price Is Going Down – May 2014
- Barclays Gold Price Fix Scandal Only Hints at Bigger Problem
- A Gold Investing "Cheat Sheet" for 2014
- Not All Gold Is Created Equal: What to Know Before You Buy
- Gold Prices Today Fighting for Higher Close
- Gold Price Today Has Best Close in a Month
- China Holds the Keys to the Gold Market
- Profit from These Two Gold Mining Stocks as Prices Rise
- Why Gold Prices Are Down Today
Gold shifted higher today (Monday) following recent record lows – our up-to-date gold price chart shows that in late May, gold tumbled to its lowest level in four months, to $1,243.00.
Gold for August delivery was up 0.1% at $1,253.90 a troy ounce on the Comex division of the New York Mercantile Exchange. London gold was up 0.1% at $1,253.77 an ounce.
Gold mutual funds are gaining attention as a safe-haven investment to hedge against the market volatility 2014 has brought so far.
These types of investments are managed by professionals who analyze and monitor the movement of gold and invest accordingly in bullions and equities.
Here we examine one method for how to invest in gold, using gold mutual funds.
Analysts look to the gold price history as a tool to make predictions about the yellow metal's direction.
A good place to start when examining the gold price history is the 1970s. Up until the early '70s, gold prices hardly fluctuated by more than a dollar or two.
But U.S. President Richard Nixon, who was in office from 1969-1974, decoupled the dollar from gold in 1971 due to various economic pressures.
Last week, the gold spot price tumbled to its lowest level in four months, to $1,243.00.
Tuesday, the gold spot price hit another four-month low early on, but ended the day hovering around last week's low levels, at $1,245.80. August Comex gold was up $0.90 at $1,245.00 an ounce.
A new gold ETF, Merk Gold Trust ETV (NYSE ARCA: OUNZ), was launched on May 16, 2014. It seeks to corner an often-neglected part of the investment market: goldbugs who like to hold onto tangible gold.
Today (Friday), gold price per ounce fell under $1,250 an ounce to a 16-week low. Prior to this five-day losing streak, gold price per ounce has been stuck in a tight trading range for weeks, struggling to consistently trade above the key $1,300 an ounce level.
Gold futures for August delivery fell by 0.8% to $1,246.50 an ounce this morning on the Comex in New York. And earlier, the price touched on $1,244.50, the lowest for a most-active contract since Feb. 3, according to Bloomberg.
Today's gold price was modestly lower Wednesday after Tuesday's rout left the yellow metal at its lowest level in 15 weeks.
In morning trading, the most active contract, August Comex gold, slipped $8.40, or 0.67%, at $1257.10. Spot gold was lower by $6.90, or 0.55%, at $1,256.40.
Barclays Plc (NYSE ADR: BCS) was fined $43.8 million today (Friday) by a U.K. regulatory agency as part of a gold price fix episode back in 2012 .
A trader abused Barclays' role as one of the big banks that participates in a twice-daily conference call to set gold prices. He manipulated the price of gold lower to avoid taking a big loss to a customer who had (correctly) bet gold prices would rise.
With gold prices at roughly $1,300 an ounce, many investors are asking themselves if now is the time to invest in gold.
I think that's the wrong question.
What they should be asking themselves is if they can afford not to buy it right now.
If you own gold, or are thinking of buying some, here's something you need to consider...
It's not all the same.
Some, like fake gold-painted lead ingots, has no value whatsoever.
Some gold said to be in storage or in the ground may not even be there at all.
There are a number of aspects of gold's quality, whether it's real or even exists, that every investor needs to know...
Global central banks and geopolitical concerns guided gold prices this week - mostly lower. But the price of gold bucked the trend Friday and were modestly higher in morning trading.
The gold price rose over the key $1,300 level Friday as tensions in Ukraine once again neared a boiling point.
At Friday's close on the Comex, gold for June delivery settled at $1,302.90, up $19.50 for the day, its best close in a month. Spot gold, which traded as high as $1,306 in Friday's session, was last up or $16.70, or 1.3% to $1,302.60, putting the yellow metal on pace for its biggest gain since April 4.
Last year China's private-sector demand for gold reached a record level of 1,132 tonnes, and according to the World Gold Council (WGC), the Asian nation could easily dominate the gold market once again, as they predict demand growing 20% by 2017.
This updated projection from the WGC confirms that China's love for the precious metal remains robust.
With gold prices crossing $1,300 an ounce last week, Money Morning's Resource Specialist Peter Krauth has pinpointed gold mining stocks that are set to cash in on the rising price of gold.
Gold prices suffered in 2013, down 28%. But these gold mining companies strengthened their operations during a down gold market, and are poised to capitalize with gold prices recovering.