Spot Gold Price Over $2,600

Well, after today’s move I would say that there’s a distinct possibility we might see gold spot price at over $3,000 per ounce by the end of the year!

Besides World tensions affecting the price of gold, tomorrow might be the first of a series of Federal Reserve interest rate cuts. It may turn out that interest rate cuts drive down the value of the dollar and thereby increase the value of gold. (more…)