November 1 Morning Market Update - Gainesville Coins News
No Minimum order! We accept Pay with Credit Card
Call Us: (813) 482-9300 Mon-Fri 9:00AM-6:00PM EST
Login or Register
Log into your account
About Gainesville Coins ®
Billions Of Dollars Bought And Sold A+ BBB Rating 10+ Years No Hidden Fees Or Commissions All Inventory Ships Directly From Our Vault

November 1 Morning Market Update

blog | Published On by
November 1 Morning Market Update

Welcome to November, traditionally the most active month for gold!  This year seems to be no exception, especially with the economic factors we're looking at. In addition to the Indian holiday season, which seems to be picking up after a weak rupee suppressed demand, and the normal Christmas season in the West, we're seeing a unique confluence of factors that are putting pressure on gold: The German move to repatriate their gold reserves, which has sparked similar movements in other nations; the amazing amount of gold reserves being accumulated by Russia and China; and the continuing "allocated gold account" scandal.  As more and more people wonder if their allocated gold accounts actually have physical gold in them, and speculation that gold reserves in New York and London may not be accurately reported, the value of having actual possession of your gold investment grows even more apparent.

After a brief blip this morning that took spot gold over $1,725/oz, gold is down just slightly, bobbing around the $1,720 mark. Silver is trading slightly higher at 45 minutes after the bell, hitting the $32.50.oz mark and rising. -by David Peterson

This site uses cookies for analytics and to deliver personalized content. By continuing to browse our site, you agree that you have read and understand our Privacy Policy.