Spot Price Gold
With the gold market riding its roller coaster ride, the current gold price is at $963.00 and spot price gold at $962.80, the ride is up. On July 30 the price of gold was at $929.70. That is a $33 swing in less than a week. Somebody is making money. Is it you?
As with all investment markets, the spot gold price will vary from moment to moment. The right time to jump in and the right time to pull out is the personal choice of the investor. You are good if you do it right 60% of the time. No one is right all the time.
This past year the fluctuation has been a little more than in the past 5 years, if looked at in trends. For almost 3 years the price rose steadily with only one major correction in 2006. But the past 5 years has seen a rise from $391.9 to a high of $1002.80. The past two years the swing has been more fluctuating up and down. This past year the there has been almost a $300 swing upwards.
The smart investor should take some risks, but not all the time. Going in and out with your money is a smart move. Always having some is good but never all of it for too long of a time. Remember the greater the profit possibility the greater the risk and possible loss. There are no guarantees in this market except that the market will always fluctuate. The trend is up and has been for 10 years. A long term investor would have made a great deal of money but eventually this market will see a large correction, just like it always does. If you have too much in the market at that time, you could lose all of what you gained.
Be careful the spot gold price is the selling and buying price. The current gold price is on the way up but for how long is just a guess.