Early September 2017 Gold rates went above $1,300 mark and had been steadily raising. Due to the recent rises in the precious yellow metal, there has been tension between the United States and North Korea in the market place. United States stock market experts are predicting for gold rates to increase shortly. The stock market experts of the U.S. say that there are many reasons for the growth of gold rates. They include the hedge fund buying and the political uncertainty in the two countries. If the two countries political circumstances do not improve, this could lead the precious yellow metal prices rising even more.
Gold Rates Skyrocket Overnight
A strategist at the Widom Tree Nizam Hamid said in a statement on Thursday that gold buyers have good news on the way with the political uncertainty. Later in his report, Nizam Hamid said at the current price of gold rates is not a sure deal. It still can either increase or decrease. He did say that there is room for more change. The mainstream gold investors are hoping for the precious yellow metal prices to continue to go up.
The current gold rate is exchanging for around $1,340 per ounce. This is an almost three-percent increase in just this week. In 2017 the gold prices have gone up and down. Even so, there has been a sixteen percent higher than last year in 2016. Spectators tend to move into a place of refuge resources, for example, gold, Swiss Francs and the Japanese yen in the midst of vulnerability and turmoil as common resources, for example, stocks and bonds could turn out to be an unstable venture.
The recent purchasing activity of gold stocks has had long time investors and even more now with the sixteen-percent increase since the beginning of 2017. The trading in the beginning of September sold over a half of a million ounces of gold. This brings it up to 5.33 million ounces to now almost mid-September 2017.