Spot gold price drop – The biggest one-day drop in the last 2 years!

The spot gold price dropped around $74.50 per ounce today, April 22nd, 2024.

This represents a decrease of roughly 1.66% compared to yesterday’s price. This huge one day price drop is really surprising when one considers that gold remains one of the best investments so far in 2024!

Spot Gold Price Drop

Spot Gold Price Drop

Well, I guess you really have to step back from the price action and consider that the spot gold price has been moving up had a tremendous rate recently and topped out at over $2,400 per ounce. So, with any big move like this there’s always a usual consolidation. Plus, one has to consider that just a couple of days ago it looked like we were on the brink of World War III, and now although the Middle East is still very tense, luckily missiles and attack drones are not in the skies.

Today, gold futures dropped approximately 2.5% to around $2,350 per troy ounce. The biggest daily loss in the spot price of gold since June 13th 2022. Spot gold prices now are about 4% below their all-time high they reach just a couple of days ago, but they remain up about 14% so far this year. This increase in the price of gold far outperforms the standard and Poor’s 500 which showed about a 5% return for the same time.

Also today the price of silver fell about 5% to around $27.50 per ounce, and it too remains up about 15%, so far year to date.

One Financial Analyst talking about today’s big gold price declined set” geopolitical shocks with limited fundamental implications should be bought, not sold.”

As far as investing in gold goes one should keep in mind that gold prices have been up more than 50% since February 2020 which was just before the full onset of the covid-19 pandemic. Also the price of gold has been up approximately 20%. just in the last 2 months!

Spot Gold Price Drop

High Grade Silver Ore Slab

silver slab – example only

Nice sawn vein specimen of fresh, unaltered high grade silver ore from the world-class Cobalt Ontario deposits. Sawn on one side only.  The deposit was described in Mineralogical Record, Volume 43, Number 6.  In general, veins are predominantly composed of carbonates (calcite and/or dolomite) with arsenides and sulpharsenides of Co, Ni and Fe with native Ag and Bismuth.  Most of this material has been squirreled away in collections by now, although specimens do occasionally come to market.

There are a few of these silver slabs available. The very bright silver really makes this piece stand out, but, unfortunately makes it all so hard to photograph. As an example the one pictured above is 66 grams for $45.

Silver, Bornite

There are a few of these beautiful native silver w bornite specimens available. Here is a 2 inch x 1 inch, Apx. 17.5 grams – Native Silver on Bornite thumbnail specimen from San Martin, Mexico. As an example the one pictured above is 17.5 grams for $60. 

Avon Gold Rush Collectible stein

1987 8 1/2” tall  San Francisco Gold Rush Handcrafted in Brazil for Avon. Each one of is individually numbered (#32017) this is the last one. $35.

For further information on these: seo711@gmail.com

All the items shown here are very limited and subject to prior sale without notice.

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Also see the most expensive type of gold nuggets, the Crystalline Gold Nuggets

Crystalline gold

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