Gold Investors Split over Dollar, Bargain-Hunting Posted by Brian Ford on April 13, 2015
The gold spot price fell $12.20 on Monday morning due to the U.S. Dollar Index’s 1% increase. The gold price rebounded around midday, however, and, as of 1pm EST, gold was trading at $1,201.40 per ounce. Gold market analysts attributed the afternoon rebound of the gold price to bargain-hunting.
Long gold positions have increased three weeks in a row, and gold has consistently found support above $1,200 per ounce for the last three weeks. Additionally, the U.S. Mint has reported that 16,000 ounces of gold coins have been sold in the last two weeks, including 6,000 American Eagle gold coins this week alone.
In other precious metal news, the silver spot price fell to $16.30 today, a $0.19 per ounce loss. Platinum fell $20.00 per ounce to $1,152. For regular updates on the gold, silver and platinum markets, subscribe to our mailing list below, or call (800) 300-0715 to request your free gold and silver investing guide.