Gold Plunges Below $1,800 on Stronger Jobs Report 

August 6, 2021 | By | Reply More

Gold prices plunged below $1,800 per ounce on August 6, 2021 due to positive job reports numbers were surprisingly higher for July than anticipated. U.S. unemployment data showed a 5.4% drop. Since the spot price of gold tends to directly react to the health of the economy, this surprise in job numbers was an upset for gold investors.

14k solid gold cross pendant
14K Solid Gold Cross Pendant from Apples of Gold Jewelry

As of the writing of this post, the spot price of gold was about $1,765. Does this create, perhaps, a buying opportunity for gold bugs? It may not be a bad time to “buy the dip”, before gold prices rebound.

One way to do this is through gold coins, like the American eagle. Another way is to invest in wearable gold jewelry, from companies like Apples of Gold Jewelry. While not a pure monetary investment due to manufacturing costs and markups, jewelry as investment can be a viable way to enjoy you gold investment and get practical use out of it at the same time.

We expect that gold prices will go up in the longterm, even if there is short term volatility. Markets, from gold to stocks or cryptocurrency have seen extreme volatility and face many challenges heading into the final quarter of 2021, 2022 and beyond as the world’s nations, including America, deal with inflation fears, covid lockdowns and uncertainty. Gold remains a solid investment over the longterm in a balanced and diversified portfolio, no matter current, short term, temporary market conditions.

Category: Uncategorized

About the Author ()

Leave a Reply