Gold in November 2019 has traded limply in the global market at the rate of 1470 dollar range. It seems like the traders are waiting for the result of the trade talks. Gold is trading at 1470 dollar mark, more than 4 dollars since the last month while silver, on the other hand, is trading at 17.10 dollars. Gold is rising even with the chaos in the precious metals market; 14.8 percent higher than the last year and 11 percent higher in the silver market.
Short term and Long term Gold report
As far as the short-term future trend of the gold market is considered, analysts and predictors are divided due to the current economic and market situations. Some analysts predict that gold prices are going to be in the same range for the future. On the other hand, some foresee that getting higher and higher and waiting for a certain event to happen. Our Gold price calculator will help you to anticipate the changes.
For the long-term future trend of the gold price, Thomas Martin, Manager at First Eagle Investment Corporation, has presented his standpoint during an interview for the famous gold website. According to him, gold is treated as the best method to secure your money and its value. It offers us some unique combinations of risks and rewards that allow the storage of value in a longer period of time. He said that gold is mostly used for hedging purpose and its price must not be speculating about its price. He postulated that it is not plausible to foresee the future price or future trend of gold and in fact, all the prices of the asset backed investment. That is why they are treated as a hedge.
Gold prices updates November: Prices will increase
But in our opinion, it must be kept in mind that gold prices have always increased unavoidably especially when dollar value is devalued. Now Gold price is almost 1500 dollars while it was used to be just 40 dollars in the year of 1960. So it is quite implied here that in the long term, gold prices are going to increase as well.
Why is the gold price Volatile in November ?
The price of gold is showing volatility this month. This is partly because the rate of return on Treasuries that is rising and the equity market showed a healthy start as well. But investors are mostly skeptical about the future prices of gold and other valuables due to the US-China trade war. Moreover, they are keeping track of the news about the impeachment case of the president and the UK Elections focused on Brexit deal. It is quite evident that both of these cases will determine the future prices of precious metal and many other equity based assets. We as well as all the other investors hope that whatever the outcome of these events, the market remains stable and even grows.