Everything You Need To Know To Sell Gold Online

Gold Prices Down Slightly Bulls Still Confident

by Michael Locklear

IMF HQ September 25, 2012 – Gold market today still remains in flux as consolidation continues. Since reaching a high last week of $1787.20 an ounce gold has retreated to the current spot price today of $1764.38 per ounce. September have seen gold prices rise nearly 5% this month. This trend is expected to continue with gold going higher as investors are encouraged by recent moves by the Federal Reserve to improve the housing market, reduce unemployment numbers and keep interest rates low, increasing the flow of credit.

Gold investors have seen an excellent return on their money over the last six weeks which may account for recent selloffs in the market as it reaches a new order. Analyst still believe that the only place for gold goes up, as weekend closer toward the $1800 per ounce mark and higher. The euro continues to move up against the dollar as US housing prices failed to reach expected gains in the July report.

On another scene global central banks are continuing to move towards increasing their holdings of gold signaling further concern over the stability of the global paper currencies. A wide range of nations are increasing their gold reserves according to reports from the International Monetary Fund.

Nations such as South Korea, Paraguay, Turkey, and Russia continued to increase their stockpiles of the precious metal along with China. One country, Venezuela has reduced its holdings this month. These actions are expected to add further fuel to the gold market and continue to push prices up in the fourth quarter of this year. Standard Bank analyst Walter de Wet has said that he sees gold going to $1900 per ounce soon.

The real question on everyone’s mind is how high will gold prices actually go. Different analysts, from different sources within the banking and financial industries have made predictions ranging from $1800 per ounce to as high as $2400 per ounce by 2014. Needless to say this market is very anxious to discern what to do next. Of course there are a lot of conditions that investors and analysts are eyeing to determine what their next course of action should be.

Several experts believe that we are in a process of global currency transformation and that perhaps in the near future confidence in paper currency will reach a devastating level where individuals will prefer to use gold as a currency. Virtually every currency in the world has some sort of instability issue and this only serves to increase fears among investors. The likelihood is that the number of investors who will seek shelter in gold will only increase in the near short-term.

Gold is considered to be a very low-risk asset and there is little doubt that far more people that are currently in the market today are sitting back and watching and considering their options in gold is on the top of their list. There still remains anxiety among investors as to whether or not the Bulls are right. They will continue to watch to see how the economies of the Euro Zone, the United States and China play out over the coming months. The current fluctuations of gold prices are an indication of concerns from individuals who are doubtful that the price of gold will continue to rise in the near future. They’re taking this as an opportunity to take profits, just in case.

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