Gold spot will stay near the 1, 700$ USD
Gold spot price is consolidating a solid 1, 725 USD/tr. Oz for gold on this Tuesday June 16th 2020, a confirmation for most investors that the price will not drop back anywhere near the 1, 400 USD/tr. Oz seen last year in 2019.
After falling back under the 1, 700 USD mark, the price of gold took back some steady gains sky rocketing half way to the 1, 800 USD next benchmark and milestone incoming for the gold price if the steady rise of demand on the market keeps going. Even with the stock market prices on the rise, this has not meant a decline for gold paper investments, a good sign for people who have been accumulating the physical precious metal.
The physical gold market was recently tested in late May when the orders for gold bullion products has gone upscale of what had been seen for years. Most precious metal dealers online were simply out of inventory for most of their offered products. Absolutely more and more signs showing that gold will take the main actor role in the wealth transfer that will occur in the next market recess.
The global buyers of gold are now assured that their predictions since the last epic crash of 2008 had some thoughts into it.
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