What is the latest news in the current price of gold from around the world? According to The Street publication, gold price is actually holding strong, and went up to $1,621.90 on January 6, 2012. It actually went higher over $1,630 and no lower than $1,609. All of this excellent performance despite the fact that the U.S. dollar continued to rise, and this is somewhat unusual, given recent patterns.
Perhaps the reason gold is doing so well is related to the fact that physical demand was up, and this in turn caused investors to “rebalance” their holdings. Yes, the dollar has actually regained strength, in lieu of what happened with the euro crashing. No wonder the dollar is up in value, considering that 212,000 jobs were added in December, which is certainly enough to make politicians celebrate, if not please the entire U.S. (which is still at 8.5%).
All of this good news in the economy may well have helped gold to balance itself in price, since some gold related stocks were also up. Elsewhere, there was a slight increase in Chinese and Indian buying, and last week, that was a major negative issue. Experts state that it’s too early to tell whether gold is recovering or merely fluctuating as has been the case throughout most of 2011. The current price of gold is still much higher than it has been, since ten years ago, and as recently as a few months ago. It has been as low as $1,400 and as high and nearing $1,700 PTO.
What is the long-term future for gold? Most financial sources say that it is destined to increase in price and even “value”, as it becomes rarer and economies continue to slide into recession. It’s relatively easy to invest in gold, since you have options in bars and coinage. Don’t think that a minimum of one thousand or two thousand dollars is required. After all, some coins are actually sold in fractions of a troy ounce.