Gold and silver moved a little lower to start the week, with thin trading over Easter weekend....
After ending 2023 with gains of 13%, gold has slipped in the past week, adjusting as investors reconsider the timeline of widely expected Federal Reserve interest rate cuts.
Minutes of the Fed’s December meeting, which came out last week, showed that central bank officials expect rates to stay high for some time. The Fed has raised interest rates by 5.25 percentage points since March 2022 to curb inflation. Higher interest rates are typically bearish for gold, making the yellow metal less attractive as an alternate investment.
Gold prices saw a big boost at the end of 2023 when the Fed previously announced that they had planned several rate cuts for 2024. The next big economic report due out is the December consumer price index, scheduled for Thursday, the next indicator on inflation.
Rate cuts are seen as bullish for gold, and when the Fed does finally begin to cut rates, we can expect a rise in gold spot prices. After all, if just the news that the Fed might cut rates significantly lifted gold, when it actually happens, we can expect a real lift-off. Until then, investors would do well to seek out temporary dips as buying opportunities.
Gold seems to have a foothold above $2,000 an ounce now, and if key market factors are any indication, we can expect a valiant performance in 2024.
Take advantage of today's lower spot prices. Gold's next highs are just around the corner, so don't delay. Give us a call at 1-800-831-0007 or email us to place your order today!
Backdated 1 oz. Gold Krugerrand
As low as $59 over spot*
*Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. Minimum order is 1 oz. gold. Shipping, handling, and insurance are included on any purchase of 10 oz. of gold or more. Price of $59.00 over spot available for orders of 20 coins or more. Price of $64.00 over spot will apply for orders of 10-19 coins. Price of $69.00 over spot will apply for orders of 1-9 coins. Offer expires Friday, January 12, 2024, or while supplies last.
