Take heed, gold traders! Gold is looking better as we head into July. The slight rise we have seen in the metal has given hope to investors and it has thankfully erased the losses for the month of June.
This has been the first gain for gold within five months, so there’s definitely something to be said about it. In fact, for the year 2012, gold has dipped twelve percent from the year’s peak of $1,790, which is an eighteen percent decrease from an all-time high reached in September 2011 which reached above $1,920.
There is hope for gold today, sitting at $1,597 an ounce, and there is hope for it to continue to be on the rise. It could even reach towards last year’s high, given a couple different circumstances. One of the factors that would play into this would be a continued decrease in the value of the dollar in comparison to the euro, as the U.S. Bank would need to compensate for these losses with commodities such as gold.
If you’re looking to buy or sell your gold, remember to keep an eye on the value of it before making these decisions. Lucky for you, though, we try to keep it covered for you—as shaky of an industry it is! As of right now, according to the experts at Reuters, the demand for gold has the possibility to rise. As for today, it’d be a good time to sell your unused gold while the value is up and your gold will be economically appreciated for its true worth and beauty.
Alyssa for Raymond Lee Jewelers, the place to sell gold in Boca Raton.