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.
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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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