Why the Price of Gold Could Reach a Five-Year High of $1,500
July 11, 2019 at 17:51 PM EDT
Just 30 days ago, gold was still trading below $1,340, and yet gold bugs were enamored. Today, there are many indications the price of gold is ready to soar well beyond the $1,400 mark. Gold certainly could sense when the Fed was about to telegraph its potential return to easing through lower rates. In the first half of June, the price of gold had already moved up by $60, or 4.7%, from $1,280 to $1,340. Since then, gold has re-tested the $1,400 level as traders have been taking profits. What was once the ceiling for gold price is quickly becoming the floor. Read more... Tags: Gold To get full access to all Money Morning content, click here About Money Morning: Money Morning gives you access to a team of ten market experts with more than 250 years of combined investing experience – for free . Our experts – who have appeared on FOXBusiness, CNBC, NPR, and BloombergTV – deliver daily investing tips and stock picks, provide analysis with actions to take, and answer your biggest market questions. Our goal is to help our millions of e-newsletter subscribers and Moneymorning.com visitors become smarter, more confident investors. Disclaimer: © 2019 Money Morning and Money Map Press. All Rights Reserved. Protected by copyright of the United States and international treaties. Any reproduction, copying, or redistribution (electronic or otherwise, including the world wide web), of content from this webpage, in whole or in part, is strictly prohibited without the express written permission of Money Morning. 16 W. Madison St. Baltimore, MD, 21201. The post Why the Price of Gold Could Reach a Five-Year High of $1,500 appeared first on Money Morning - We Make Investing Profitable .