What the Increase in Gold Prices Means for You

Posted on Wednesday, July 10th, 2019 in Gold.

In the recent weeks, gold has been trading near the $1,400 an ounce level.

6 month gold price chart

January 2019-July 2019 Gold Prices

The last time gold prices were this high was in March of 2014 when it was coming down from being at an all-time record high of $1,900 an ounce in August of 2011.

10 year gold price chart

June 2009-July 2019 Gold Prices

Some investors believe that the price of gold will continue to rise over the next few months and could possibly reach the $2,000 level by the end of the year. They attribute a weakened U.S. dollar, possible Federal Reserve interest-rate cuts in the near future, and the recent trade wars to gold’s recent price increase.

So what does this mean for the average fine jewelry consumer? Well, if you’re planning on buying any gold jewelry in the near future, you may want to consider purchasing it now instead of waiting. Doing so could save you some money. Also, if you have any gold jewelry that you no longer want or wear, now would be a good time to trade in your gold and earn a little extra cash.

Visit Kloiber Jewelers today to see how much money you can get for your scrap gold.