Just in time for the Holidays: Gold Slips!

As we discussed in our last post about gold prices, gold did indeed, for a time, hit the $1200 mark.  But now it is falling and just in time for the favored “Gold and Silver” season of the year: holiday gift giving with parties and occasions to wear such gifts and show them off.  Everyone loves this time of year for all the bright opportunities and optimism that we see ahead.

But what about the price of gold?  It topped $1200 a week ago, but since then, the price has dropped again.  It is now hovering at midway between $1200 and $1100, with the trend being downward.   What does this mean?  Has the world economy started to ease and confidence returned to the dollar?  Have we turned the corner?

We are seeing a few more confident signs.  There are signs that consumer confidence is returning and that perhaps “Black Friday,” which has always seen American retailers through, got a decent turn-out this year.   That’s sounding better and better, isn’t it?

But even more important than sales are jobs.  The latest U.S. Labor Department statistics showed that the freefall in the job market has perhaps slackened; that the bloodletting is slowing and weekly job losses (which had been at 700,000 earlier this year) are slowing, too.  Americans aren’t back at work yet, but they aren’t losing jobs in such great numbers anymore.

And President Barack Obama has announced that he will hold a job summit this week, inviting industry leaders as well as lawmakers to gather to the White House for discussions about how to get Americans employed again.

All of these things inspire confidence in the economy, in the dollar and in the future.  All of which means, the price of gold may sink back to former levels.  I would be surprised if that happens just yet.  But ’tis possible.  And of course, “tis the Season of Hope.”

Me?  I’m hoping for something like THIS!

Happy Shopping!

Gold Prices Up Again!

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.