This week we saw the gold price slowly decline after weeks of a rollercoaster ride. We ended last week with a gold price of 1341.62 USD/oz., but closed at 1338.97 USD/oz. on Monday. Since then, the gold price has continued to fall ending yesterday at 1321.87 USD/oz. A weekly low we haven’t seen since last month. The gold price today is 1325.2 USD/oz.

The Cause

This is a normal cycle for gold prices. Once the demand of gold start to decrease the price of gold starts to fall as well, but the gold price has still been able to stay in the 1300’s range. Many analyst believe that the price of gold will start to rise again shortly and there will be another gold rally.

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Do you think the gold price will go back up next week? Let us know in the comment section below!

Sources: usagold.com