The price of gold is likely to fall for a 2nd year in a row, the first time since 1998. At the beginning of 2014 Gold was around $1,201 an ounce; and it will be trading below that mark by the end of the year. At the time of the publishing of this article gold will be trading around $1185 an ounce, which is lower than where it started.
The good sign is the U.S economy is strengthening and analysts are seeing this as the reason for the fall in gold price. At one point in 2014 gold was near $1400 an ounce, but the price fluctuated often so we refer to it as a Roller Coaster.
It wasn’t a terrible year for gold when we compare it to 2013 when we saw around a 28% decline in price. The decline was sharp, sudden and the first since beginning its bull run in 2000.
Predictions for next year are coming in mixed. Most of them saying it will stay flat or have modest gain. Some even say that gold will dramatically fall, possibly even lower than $1000 an ounce. We will wait and watch and keep you all updated.
Happy Gold Buying