Monthly Archives: May 2011

Gold and Silver Prices Take a Nosedive This Week, As Predicted

On May 4th, 2011, gold reached an all time high of $1541 per troy ounce, along with silver skyrocketing to a recent high of $48.70 per once. After a traumatic week for the precious metals markets, gold has fallen almost 5%, while silver has driven off a cliff, dropping by a staggering 30%.

Lots of factors go into global commodities prices, so it is difficult to be sure what exactly drove the price down so sharply. However, it is clear that the market has responded to events in recent news. Perhaps investors are regaining faith in the U.S. government due to the capture of Osama bin Laden.

You may have missed the peak of the market, but not the boat! It’s not too late to sell your broken and unwanted jewelry before the bottom of the market.

Gold and Silver Prices Stall with Bank Holiday

The spot price is used all over the world for buying and selling gold, silver and other precious metals. The most commonly used version of the spot price, is the London PM Fix. For example, sets our buy price daily, based on the London PM Fix.

The United Kingdom is celebrating a national holiday in observance of the Royal Wedding of Prince William and Kate Middleton. Congratulations to the Duke and Duchess.

We are expecting gold prices to gap down when the markets return from the bank holiday.

Top dollar for gold

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