and conditions are just right for more.
For those of you who have been following this blog for some time, the headline above will be of no surprise. Yet it will be very exciting nevertheless.
Yes – it has happened. The gold spot price has broken the previous intraday high of $US1,923.70 per ounce set in August 2011.
At this time of drafting this blog post, the gold spot price is $US1,46.92.
With unprecedented levels of money printing; geo-politics tensions; political and civil unrest; coronavirus; and social media warfare – the environment seems to be just right for a growing gold price. And this could be the case for many, many months to come.
So hold onto those gold coins.
And for the silver stackers – don’t feel left out. For the silver spot has just rocketed past $US24 an ounce – following a few days of resistance at $US23.
For the reasons outlined above – safe haven demand for these monetary precious metals is HOT, HOT, HOT, right now. Congratulations to the prepared.
For more information about the investment potential for gold see the following Goldsmith Money blog articles.