The price of gold decreased slightly at the beginning of 2024
2024-01-05
At the beginning of 2024, the price of gold surprised again with a negative change. During the first few days of this year, the price of gold fell by 2% and on January 3rd. was down almost to $2,032 per ounce.
By the end of December 2023, the price of gold had reached more than 2,088 US dollars per ounce. It seems that a record price of gold has been reached. However, such a jump in the price of gold was instantaneous and the price later returned to its previous level. Hardly anyone could name the specific reason for such a price jump, because the price of gold is influenced by many factors, starting with the markets of individual countries and ending with the geopolitical situation. There will be different opinions, but it's probably more than just speculation. The price of gold has remained
more or less at the same level for the last four years, but with large price changes. The lowest gold price in 2023 was at the end of February 2023 and reached about $1810/oz.
You can find information on the Internet that the most expensive gold is bought in Germany in the retail market. When the price of gold increases, the number of people who want to sell gold also increases. It's natural. The amount of people willing to sell their gold items depends mainly on the economic situation and the standard of living in the country. After talking with representatives of pawnshops, it can be concluded that the number of gold sellers who use pawnshop services is constantly increasing. Of course, the number of people who want to use the services of a pawnshop always increases before the holiday season. The purchase price of gold depends somewhat on the buyer's pricing policy, but it is mostly influenced by the price of this metal on the exchanges. All gold buyers closely monitor the price of gold and adjust it accordingly. With frequent changes in the stock exchanges, the price of gold also changes accordingly in pawnshops or at other buyers.
It is difficult to say what gold price trend will prevail in 2024, but we will try to guess that the gold price will increase.
According to scraprice.com, the highest gold purchase price in the US in the first days of 2024 was about $62.75/g (buyer: Mid-States Recycling & Refining), and in the UK about £50.02/g (buyer: Lois Bullion)