How High Can Gold Go?
For months, gold has been finding resistance at the $1,900-1,960 range, and then retreating and trying again. The risk-averse sentiment in the market has been helping to maintain the bullish momentum that kicked off over a year ago. Volatility from the upcoming presidential election is likely to trigger another investor retreat to the safe haven of precious metals, but gold prices aren't quite ready yet to make the next step up.
Gold spot prices lingering in a sideways trading pattern is actually a great benefit for both wealth protection and investment. While it’s still here, now is the time to take advantage of lower prices in preparation for gold's expected continued rise. Take a look at the gains from the last two gold bull markets:
Bull Market 1971 to 1980
Low on 1/4/1971 - $37.44
High on 1/21/1980 - $850.00
Gain – 2,170%
Bull Market 2001 to 2011
Low on 2/20/2001 - $256.25
High on 9/5/2011 - $1,921.17
Gain – 650%
Today’s Bull Market Dec 2015 to ???
Started 12/2/2015 - $1,055.40
Today - $1,929.33
Gain – 83%
As you can see, gold is nowhere near the highs we expect to see based on historical gains. Considering most gold bull markets last about a decade, there is still plenty of time to get in as the market picks up momentum. To that end, we encourage investors to take advantage of the current relatively low spot prices with popular gold bullion at an affordable premium.
Ever popular, pure gold Canadian Maple Leaf Coins are available. Give us a call at 1-800-831-0007 or email us to add to your portfolio while gold is still trading in this current range. Gold today is over $400 more per ounce than it was this time last year, and we believe gold prices are just starting to rise.
*Prices subject to change based on market fluctuation and product availability. Prices reflected are for cash, check, or bank wire. Minimum order is 1 oz. gold. Free shipping, handling, and insurance are available for gold purchases of 10 oz. or more. Offer expires Friday October 16, 2020, or while supplies last.