The price of gold is rising. What to expect in the near future?
2023-01-11
By 2023, the price of gold has increased by about 15% compared to the beginning of November last year. November 3, 2022 the price of gold on the exchange was about 1600 USD/Oz, and already in 2023 on January 3, the price of gold reached 1838 USD/Oz. Although the price of gold has not yet reached 2022. at the level of March when gold cost as much as $2034/Oz, but it is likely to reach a similar price soon if it rises at this pace.
As the economy of the world's major countries slows down and inflation continues to grow, it is a bit strange to see that in 2022 the price of gold decreased more than it increased, and only started to increase at the beginning of November. One can form the opinion that the price of gold is somehow artificially prevented from increasing.
From information on the Internet, you can find out that both professional investors and ordinary people buy both gold and silver in bulk. Recently, bullion trading companies do not always have investment silver bullion or the most popular investment gold bullion in stock. This suggests that bullion buyers are currently more active than sellers.
According to information from the website scrapprice.com, the most expensive scrap gold is bought in Germany and the UK at the beginning of 2023. 24 carat gold scrap can be sold for as much as EUR 56 per gram to gold scrap buyers in these countries.
We can only guess what will happen in the near future with the price of gold, but we believe that gold should become more expensive, and that e.g. 2000 USD/Oz gold price will certainly not be the highest in the coming years.
As the price of gold rises in the stock exchanges, the prices for buying scrap gold also increase accordingly. Should you sell your scrap gold today, there is probably no right answer. Everyone who owns gold decides for himself when it is best to sell it. No one can tell for today what will happen in the near future, but we would be inclined to think that today is a better day to buy gold than to sell it.