Home News Gold Prices Strengthening on Global Cues

Gold Prices Strengthening on Global Cues

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Gold prices are strengthening for deliveries as early as February. This is attributed to the overall stabilization of various political issues around the world. Queen Elizabeth made a public appearance for the first time since she came down with a heavy cold before the start of the new year. President-elect Trump’s inauguration is coming up soon, which some are saying is going to be the start of a building boom in the United States.

Global Price

Currently, the price of gold is up approximately .14 percent. This sets the price at $1,173.80 per ounce based on the price in Singapore. It is expected that the price is going to continue inching upward as long as global events remain fairly stable. Some fluctuation might be near because of the upcoming inauguration in the United States.

Price in India

Watching how gold is faring in India is a good idea if you are considering investing. The news coming out of New Delhi right now looks promising for investors.

The price for delivery in February is up, which is a welcome development for many who have gotten accustomed to the bearish state of gold. Gold futures for February are currently set at RS 27,904 per 10 grams. This is an increase of RS 17.

The price for far-month April delivery is also up, per the Multi Commodity Exchange. The .10 percent increase of RS 28 sets the current price for this delivery span at RS 27,920 per 10 grams.

Pulling It Together

The fact that the increase for April futures is greater than the February delivery price shows that gold is certainly trending in the right direction. This also signals that now is the time to jump onboard with gold because as the price increases, the potential profit won’t be as great.

How to Trade Gold Online

The Price of gold is constantly on the move. Take advantage of the daily price changes in gold with an online trading account. Some brokers offer bonuses of up to 30% on your first deposit (Terms and conditions apply). Open Gold Trading Account Here

The broker trading platform will also provide you with numerous charting tools and the ability to trade other commodities and currencies in addition to gold CFD’s. You might also want to begin trading with a demo account before attempting to risk any of your own money. That way you can practice trading with virtual money on the demo platform first.

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