Spot Gold Price 2010
The Spot Gold Price 2010 will start above $1000 an ounce for the new year. The beginning of the month of December say the spot price of gold was near $1225 an ounce. But by the end of the month, it went down to $1091 on December 29 and was still falling.
Since 1971, the price of gold has risen and fallen but since breaking the $200 mark around 1979, it has stayed above it. Since 2001, gold has been on a steady increase with just a few small bumps along the way.
The end of December is seeing gold futures edging lower but a weak dollar has helped keep prices up. Uncertainty still remains in the minds of most investors. The recent financial fiasco from Abu Dhabi is just another reason for worry. With no true measure to track the direction of the world’s economies, uneasy investors are still relying heavily on gold for a solid investment. This has been shown with a rise in the value of gold by 24% in the year 2009 alone.
This has been the trend for the past decade. Since December 30, 1999 with the price of gold at $289, investors have seen solid gains. At the end of December the chairman of GFMS Ltd in London, Philip Klapwijk, has predicted that gold prices will drop to about $970 an ounce in the new year due to a strengthening dollar.
The American dollar is the key to which way the gold market will go. The Spot Gold Price 2010 will follow it closely. The stronger the dollar, the lower the price of gold will be.
Tags: gold, gold prices, investing, money, precious metals, spot gold
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