Price of gold live updates May 2019
It’s a known fact that the price of gold can fluctuate very frequently on the market. Indeed, there are many reasons behind the constant price changes in gold. Gold works like any other market with a change in supply and demand making it either more valuable or not. Recent numbers have shown that gold is doing very well this month.
1) Increase of gold price in may
The gold market has been prospering with great results these past weeks. Indeed, data shows that the value of gold has increased making it more valuable. Indeed, at the beginning of the month, you could expect around 973 £ for an ounce of gold, now you can expect around 1037£ for the same quantity of gold. The price of gold in GPD has been only been increasing over the course of the month. This showcases a big growth from the beginning of May. There are a few reasons as to why that is. In fact, the intense talks between the US and China have spiked an increase in the gold price. Both were threatening to change the tariffs accords by making them higher and therefore more expensive.
This will ultimately make trading, doing business and exchanging goods between the two countries much harder. In this case, you can see how governments have a direct impact on our global economy and various markets including the gold market. However, by benefiting the gold price those political tensions have impacted the value of their own currencies. Indeed, the value of the US dollar and the Chinese Yuan have slightly dropped from those discussions. Another reason as to why the gold price increased would be the Brexit situation. The promise of the prime minister to leave has certainly benefited the gold market. Therefore, this climate of uncertainty very much benefits the gold price.
2) This is the moment to
invest in gold
The gold market remains healthy and very stable. Like we’ve mentioned before, its value keeps on growing to make it very desirable. Indeed, the demand has been increasing over the past few months not only in the UK but also in the world. Moreover, many countries such as India, China, Russia or even Switzerland have also invested in gold. This highlights how popular and powerful gold truly is. So if you selling your gold we would advise to do so now to get a high price
Looking into the current market climate and how the gold as improved, we would recommend you to sell gold. This would be the perfect time to do so as the price remains very high and you can easily get a great return on your investment. The demand is big and there are many ways for you to sell gold quickly, efficiently and easily. You can start by getting a quote and then selling gold at the best price to get the most out of your jewellery