Like expected, the price of gold has gone back up from it’s two week low right after Labour Day weekend. After averaging below 1330’s USD/oz for two weeks, the gold price started this week strong with a weekly high of 1349.79 USD/oz. Since then it has been struggling to stay up, but hasn’t gone below 1330 USD/oz. This is great news compared to last week’s high of 1324.83 USD/oz. The gold price today is 1329.65.
What we are seeing play out this month is a normal cycle for gold prices. As the demand grows, the price rises, and as demand slows down, the price falls which causes the demand to grow again. For more information on this cycle, check out our Tuesday Post; “The Gold and Silver Cycle”.
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