The gold price once again took us on a roller coaster ride this week as it we saw a drastic rise and a drastic fall. This is your weekly recap of the gold price for the week of November 14, 2016.

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Gold Price Still Falling (Gold Price Weekly Recap)

Days before the U.S election, we saw the gold price recover from October’s fall as we saw the gold price edge above 1300 USD/oz, but shortly after the elections we saw the gold price start decline and hit a weekly low of 1226.78 USD/oz the following Friday. Many analysers still believed that Donald Trump’s victory will cause an increase in gold prices and would even cause the gold price to hit above 1400 USD/oz before the year ends, but the gold price is still on a steady decline.

The week started off lower than last week’s low with a gold price of 1220.83 USD/oz, but took a drastic leap to 1228.27 USD/oz the following day. This gave hope that the gold price will start to climb back up, but it fell to 1224.77 USD/oz on Wednesday, and by Thursday only closed at 1215.95 USD/oz. The gold price today is only 1208.91 USD/oz. These are numbers we haven’t seen since May.

Canadian Bullion Services is an international precious metals dealer headquartered in Toronto that is ranked among the top precious metal dealers in Toronto. Visit our main site for more information, and keep up with us on Twitter and Facebook. Don’t forget to check back next Friday for your weekly recap.

Do you think the gold price will ever recover from this steady decline before the year ends? Let us know in the comment section below!


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