Just take a look at this latest chart from Kitco:
Isn’t that interesting? Over $200 climb in that six month period.
But what about proof gold? Did you know that it is over $2000 now?
Of course, the better proof gold, such as MS-70, has a premium price as well.
Individually, the prices vary based on the specific type of coin and its corresponding grade.
One dealer speculates that proof gold will be trading over $2200 an ounce by the end of the year. That’s a $200 spread in less than two months.
As one of our dealers commented at the Sunday show, “It’s much easier to sell gold right now than it is to buy it.”
The demand for physical gold continues strong. That adds to the age old supply and demand problem. The supply gets tougher to find as the demand increases causing the prices to increase as well.
For those of you who invest in the stock market and who invest in gold “paper,” you may consider it time to become a little paranoid. If physical gold is difficult to find, are you sure that gold “paper” has any physical gold behind it? In other words, is your investment safe? Does it have real value?
With the various and sundry dirty deeds by investment types increasing, are you confident that your gold investment on paper really exists?
Sometimes, when the economy gets tough, gold that you can touch, hold and keep safe yourself is better than an unseen and perhaps imaginary investment.