Current Price of Gold Today
The current price of gold today on the spot market is dipping lower at the close in NY on January 20 at $1111.30. This is a $26.30 fall from the previous day’s closing. This should be seen as a normal fluctuation that is always present in this volatile market.
It is true that China’s and India’s economies are recovering from the global recession nicely but the US and European markets are still wavering and could fall back into recession as warned by a World Bank official on January 21.
With energy stocks falling due to a decrease in demand because of the current economic recession, gold is still holding strong. Many investors are still holding their bullions close by, to weather this economic storm that the financial sector sent the world in.
It is true that gold futures have fallen for three straight weeks on fears that the US dollar will gain in strength, which it has against the Euro. This does make gold less attractive to investors as they are slowly switching to dollars as a safe haven.
Another worry is the limitations China has put on its lending institutions. There is some fear that this will cool off their economy and affect the rest of the world’s economies as well. Inflation will continue to be feared as well as the stalling of the world’s leading economies, but gold has not seen the end of its rise just yet.
The current gold prices will continue to be volatile but the rise is not over. This is just another pause like before and the current price of gold today will again climb.