- Posted in: Precious Metals Reports
Gold Nears $1,300 and Silver Approaches $18!
Today has proven exactly how stellar tangible commodities, like gold and silver, can be for your investment portfolio and proves that there will always be a demand for precious metals. Nearing $1,300 per ounce: Gold is experiencing a 15-month high, coming out of the slump which occurred when the spot price dipped below $1,200.
Now at $1,292.80, the price increase comes from safe-haven buying caused by a nervous outlook for the world stock markets as we head into the weekend.
Kitco news reports, “After hitting a session high of $1,299 an ounce, gold prices are holding on to most of their gains Friday and are preparing to close the week with gains of more than 4.7%, their highest percentage move since early February. With gold’s latest strength, there is strong optimism in the marketplace that prices could surprise $1,300.”
Tied almost directly to Gold, Silver is experiencing its own 15-month record high and surpassed the $18 an ounce mark earlier today. Now the precious metal is priced at $17.92 and is expected to end the week off on a strong note once the market closes.
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