The price of gold is soaring more than 3% today (Thursday) and is now up more than 20% year to date. But our forecast shows the price of gold climbing even higher in 2016.
spot gold prices
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As the U.S. markets have moved sideways in the past week, gold has been in consolidation mode. Today the gold spot price is around $1,223.20 - down $9.50.
Gold traders have done some profit-taking as the gold price has bounced in a range between roughly $1,205 and $1,235 over the past trading week. But the gold spot price has stayed above the $1,200 level, which has helped to paint an increasingly bullish picture.
Technically, we're getting an emerging pennant pattern that will have to resolve itself before long. Will that be to the upside or downside?
The price of gold climbed today (Thursday) as a sharp sell-off in China's stock market sent investors to the safe-haven asset.
Just after noon today, spot gold prices were trading up $10.90, or 0.89%, at $1,240.40 an ounce.
After a steep climb over the past two weeks, the gold price is down 0.25% today (Friday) in afternoon trading.
And while gold prices may head lower in the short term, we are still very bullish on the gold spot price for the rest of 2016.
Gold prices today keep climbing, up 8% in the past week.
Spot gold traded around $1,238.50 last week.
Gold prices surged to a 12-month high above $1,240.00 an ounce Thursday as investors around the globe piled into safe-haven assets.
Spot gold prices were sharply higher in early trading, up as much as $45.50, or 3.8%, at $1,242.26 an ounce.
The price of gold today is climbing 1.5%, or $17, to $1,190 this morning, continuing a strong run for the precious metal. Gold prices have now climbed roughly 12% in 2016 and should continue to climb even higher...
The price of gold today is climbing as stocks continue to be extremely volatile.
But there have also been some significant developments on a macroeconomic basis that have driven gold higher in the past week.
Gold prices today (Wednesday) rose to three-month highs after a weaker than expected U.S. ISM non-manufacturing report had investors piling into gold.
Just before noon Wednesday, spot gold was trading up $10, or 0.89%, at $1,140.00 an ounce.
Spot gold prices slipped $9, or 0.80%, Thursday morning to $1,116.70 an ounce as many investors took profits following a week of gains for gold prices.
And while spot gold was down today, dovish comments from the U.S. Federal Reserve yesterday were a big indication that gold prices will continue climbing in 2016.
Gold prices were slightly lower today (Thursday) as markets calmed, but we still see gold prices soaring in 2016. In fact, investing in gold is one of the smartest decisions investors can make during this extreme market volatility.
Today's gold price hit a seven-week high as fresh geopolitical concerns sparked further safe-haven buying in the precious metal.
In early morning trading, today's gold price was up $14.20, or 1.32%, at $1,092.70 an ounce. Traders are closely watching to see if the precious metal can top $1,100, a level last seen on Nov. 4.