Gold prices have jumped to new records in the past week, closing Friday at $1116.70 per ounce after wobbling all the way down t0 $1105.00 earlier in the same session. That may sound great, but this was down from a new record high on Thursday of $1123.40 before settling at the weekend’s mark.
This is of course, due to more softening of the greenback. President Barack Obama at an Asian economic summit this weekend, trying to persuade leaders there to continue to support their own economic recoveries and expect to focus more in the future on growth through equalizing trade instead of just expecting Americans to continue to drive the global economy thru increasing consumption and debt.
Ok, so that’s all a bit concerning. But we’re now entering the holiday season. So let’s talk about what this means for holiday gifting. The price of gold is up at record levels. Does that mean that gold is a bad investment? Absolutely not. The reason it remains a good investment is that experts say they don’t believe the “ceiling has been reached.” There is still room for the price to go upward.
In fact, if you adjust the price for inflationary numbers, that price is nowhere near a record, as we’ve discussed in past blogs. It has a long way to go.
But what if you aren’t feeling confident enough about the economy to purchase a thoughtful gift of gold jewelry this season? What if you are concerned that perhaps this is not the right moment for you personally to splurge and create an heirloom for your family to pass from generation to generation, that is understandable at this point in time. It doesn’t mean you can’t give a beautiful piece of artisan jewelry for someone to love and treasure this holiday season.
ApplesofGold.com has added some exceptional silver jewelry designed by Kira Ferrer to its offerings this holiday season and some very intriguing gold and silver jewelry that is also very affordable. Don’t let economic concerns stop you from showing the special people in your life how you feel about them this holiday season.
And if you are ready to sell gold, don’t forget to check out our section on gold buying. We offer some of the best prices and policies available.
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Category: Gold Prices