At the end of November, we saw the gold price hit below 1200 USD/oz, and since seem to be on a steady decline. This is your weekly recap for the week of December 5, 2016.

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Gold Price Still Struggling (Gold Price Weekly Recap)

This week the gold price started off at 1169.90 USD/oz. A number lower than the weekly low of last week’s, but by Wednesday the gold price was able to climb above 1170 USD/oz. The gold price today is only 1159.28 USD/oz.

The Cause

With more gold bugs than ever, many believed that this would a major influence on the gold price. But as interest rates keep rising in America, the gold price continues to fall.  Many are hoping that this steady decline will be short-lived, and that the new year will allow the numbers to grow again.

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 can recover next year? Let us know in the comment section below!


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