Precious metals rose slightly, with the exception of platinum this week. Let’s take a look at where prices stand as of December 11:
The price of gold is currently at $2,718, up 1.3% from a week ago.
The price of silver is $31.94 currently, up 2% on the week.
Platinum is at $947, just about flat from a week earlier when it was $943. So not a whole lot to
Palladium is up 2.7% to $1,009 — that’s a little bit of a pop up from $982 a week earlier.
Gold Season is Here
Gold will likely continue its climb with the arrival of seasonal demand. Indian wedding season is beginning now, and Chinese Lunar New Year is coming up at the end of January. So we expect to see investment dollars going into gifts of gold.
Yet, there is still little demand from western investors in the precious metals markets.
Waiting for Entry Points?
It could be that some investors are waiting for another pullback in the price of gold. Looking at it in charts, it appears that gold and other precious metals would have more of a pullback.
Yet gold continues to show strength and stability in light of any geopolitical instability, economic uncertainty, and policy shifts.
Next week, there could be some more movement in precious metals as the Federal Reserve will be potentially announcing another interest rate cut. This does tend to cause the US dollar to drop and the price of gold to rise.
The markets are still in full melt-up mode, with all the major indexes reaching new highs or hovering near them. However, the party can’t last forever. The Trump administration will be inheriting a mess of an economy, despite what the markets are saying. What goes up must eventually come down.
Gold remains as an insurance policy against market uncertainty. It offers a layer of protection to your purchasing power — but only if you have a plan to accumulate more ounces over time.
Get in Touch for Expert Guidance
The McAlvany Precious Metals advisors have decades of experience investing in gold and other precious metals, and they can help you find the best strategy to meet your unique needs. They are happy to speak with you about your strategy for investing in gold and other precious metals. Reach us at 800-525-9556.
